[tacomax]

Betonsports admits racketeering

London-based gaming website Betonsports has pleaded guilty in the US to charges of money laundering and racketeering.

The internet gambling firm and its top executives were indicted on criminal charges relating to their US operations last June.

Betonsports' founder Stephen Kaplan and former boss David Carruthers are both under arrest and await trial.

Charges were filed using a 1960s-era law banning bets over the phone, part of a US crackdown on online gaming.

By pleading guilty, Betonsports has admitted mail and wire fraud, operating an illegal gambling business and money-laundering, US attorney Catherine Hanaway said.

The company now faces fines up to $500,000 (£251,880), billions of pounds in forfeitures and the return of money held for US account holders.

Betonsports will also supply witnesses and evidence in the case against Mr Kaplan and Mr Carruthers as part of the agreement with the prosecution to avoid further criminal prosecution.

The plea was submitted to a federal court in Missouri, where Mr Kaplan pleaded innocent to charges of racketeering, fraud, tax evasion and conspiracy earlier this month.

He is one of 11 people accused of illegal activities relating to the US operations of internet gaming businesses based overseas, which includes Betonsports, and was arrested in the Dominican Republic in March.

Mr Carruthers was arrested by US authorities as he passed through a Texas airport in July and was sacked shortly afterwards by the company, which subsequently shut its lucrative US-facing arm.

President George W Bush signed the Unlawful Internet Gambling Enforcement Act last October, which in effect, makes it illegal for firms to collect money there.

As a result a number of firms, including 888.com, Sportingbet, and Partygaming have had to change their focus to make up the lost revenue.

[Mudcat]

This is the kind of informative post that makes you so respected IMO.

[The Prick]

Carruthers thrown under the Bus, G is next....big surprise from BoS.

[WWTSblows]

What are the odds BoS players are ever paid a dime?

[Estevens]

Don't you love it Betus was part of this from the begining and now they are in shit as well, do you think they can last much longer even though they are saying they where not personally indited because the dip shits up stairs where not named yet. damn if I was one of the big boys I would be out the door in a hurry, or has a tempory money blinded them into thinking they will be ok or if it goes down I will be ok because I'm a tico. Just for them hope the TLC does not get passes because if it does 25 years in jail will suck.