British company BetonSports has pleaded guilty to a number of charges and in turn has made a deal with US Department of Justice. The charges that BetonSports were up against included, racketeering, money laundering, fraud and illegal gaming. In the early 2000’s BetonSports was absolutely one of the biggest competitors in the lucrative online gaming market in the US with revenues up to £800 million per year. But all came to an abrupt halt when in 2006 the US went forth with a major crack down against online gaming in their country.
In July 2006, the then Chief Executive Officer of firm, David Carruthers was arrested at an airport in Dallas Texas. And earlier this year, the founder of BetonSports, which is a publicly traded company on the London Stock Exchange, Gary Kaplan was arrested in his home in the Dominican Republic the FBI and extradited to the US. A number of others were also detained.
The guilty plea by BetonSports leaves them with a $500,000 fine. The company has also agreed to help the Department of Justice prepare their case against their former CEO, Carruthers.
"This plea, combined with the terms of the civil junction, should put an end to the BetonSports illegal gambling empire," said prosecuting lawyer Catherine Hanaway in the Missouri court.
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