bet on sports plc

2007-11-14T10:43:00.000-08:00

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

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BetOnSports Plc announces office closure, U.S. withdrawal, Update. The Board of Directors of BETonSPORTS plc announced that in the light of the Temporary Restraining Order issued by the United States District Court for the Eastern District.
LINX Public Affairs » BETonSPORTS plc CEO arrested in DallasDavid Carruthers, CEO of AIM-listed BETonSPORTS PLC has been arrested at Dallas airport while changing planes for Costa Rica. A federal grand jury has issued indictments against.
BetonSports CEO Detained in US. UNITED STATES – As reported by Bloomberg: "Betonsports Plc, a London-based Web gambling company licensed in jurisdictions including Antigua, said Chief Executive Officer David.
Betonsports Plc to close their US based operations Business NewsBetonsports Plc to close their US based operations Betonsports Plc is one of the British online bookmakers who are now finding themselves in trouble with US.