BetOnSports Pleads Guilty to Racketeering
Online gaming operator BetOnSports has submitted a guilty plea to a federal court in Missouri (where Gary Kaplan had denied the same charges), to charges of money laundering and racketeering.
The London-based company will now faces fines of up to $500,000 (£251,880), plus billions of pounds in forfeitures and the return of money held on behalf of US account holders.
BetOnSports will also supply witnesses and evidence in the continuing case against its founder Mr Kaplan and former CEO David Carruthers as part of the agreement to avoid further criminal prosecution.
Both men remain under arrest pending trial.
US attorney Catherine Hanaway stated that the plea “should put an end to the BetOnSports illegal gambling empire.”
According to the lawyer representing BetOnSports, Jeffrey Demerath, the firm will now cease operating and be wound up.
The London-based company will now faces fines of up to $500,000 (£251,880), plus billions of pounds in forfeitures and the return of money held on behalf of US account holders.
BetOnSports will also supply witnesses and evidence in the continuing case against its founder Mr Kaplan and former CEO David Carruthers as part of the agreement to avoid further criminal prosecution.
Both men remain under arrest pending trial.
US attorney Catherine Hanaway stated that the plea “should put an end to the BetOnSports illegal gambling empire.”
According to the lawyer representing BetOnSports, Jeffrey Demerath, the firm will now cease operating and be wound up.
posted by Gamble Pro at
7:35 PM
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