BetonSports
From Wikipedia, the free encyclopedia
BetonSports plc is a British online gambling company. The company was one of the biggest players in the United States online gaming market, drawing in several billion US dollars in wagers in the early 2000s.[1] In June 2006 US authorities indicted the company and a number of its executives on RICO, mail fraud, and tax evasion charges arising from its supplying online betting to customers in the United States (the alleged crimes took place before the adoption of the Unlawful Internet Gambling Enforcement Act of 2006). No date for trial has been set; several of those indicted remain in US custody or on bond.
In July 2004[2] the company was floated on the Alternative Investment Market of the London Stock Exchange with the ticker symbol BSS.LN. [3]Although listed in London, the majority of its operations were in several Caribbean locations (principally Aruba, Antigua, and later Costa Rica[4]) and almost all of its customers were within the United States.[1]
In July 2006 the United States District Court for the Eastern District of Missouri issued a sealed indictment[5] of the company and a number of people related to its operations. The indictment was unsealed later that month when CEO David Carruthers was arrested in Dallas while returning to Costa Rica after attending the company's annual general meeting in London;[6] Carruthers is under house arrest in Missouri awaiting trial[7] - he and his co-accused have entered "not guilty" pleas.[8] Shortly after Carruthers' arrest trading in the company's stock was suspended.[9] At that time BetonSports employed around 1000 workers in Costa Rica.[10] The company later terminated Carruthers and agreed to discontinue its US business.[7]
In March 2007 founder Gary Kaplan was arrested in the Dominican Republic and was extradited to the US.[7]
[edit] References
- ^ a b "U.S. permanently bans BetOnSports" ZDNews, November 10th 2006
- ^ "BetOnSports PLC Shareholders May Sue the Company"
- ^ "Quote for BETonSPORTS PLC (BSS.LN)", Wall Street Journal online share price service, URL retrieved 31st March 2007
- ^ "Significant cases: BETONSPORTS PLC" United States Attorney's Office of the Eastern District of Missouri's page on its ongoing civil and criminal prosecution of BetonSports and related parties.
- ^ Text of the indictment (PDF file)
- ^ "BETonSPORTS plc CEO arrested in Dallas"
- ^ a b c "Founder of Betonsports arrested" BBC News
- ^ "Several defendants enter not-guilty pleas in BetonSports, Plc. case", Sarah Polson, Pokerlistings.com, July 31 2006
- ^ "Gaming shares hit by US charges" BBC News 18th July 2007
- ^ "BetonSports PLC needs a wing and a prayer...and a miracle from God", Gambling911.com, 19th July 2006
[edit] External links
- BETonSPORTS.com, the company's former online gambling portal. The site now displays information for customers whose funds are affected by the ongoing legal action.
