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11 Charged In Web Gambling Crackdown

Published:

Last Edited: July 18, 2006, 5:16 pm

"11 Charged In Web Gambling Crackdown

BetOnSports CEO, Others, Arrested For Conspiracy, Fraud, Racketeering

(Page 1 of 2)FORT WORTH, Texas, July 18,
(CBS/AP) Federal officials on Monday charged 11 people, including the CEO of a big gambling Web site, alleging they committed conspiracy, racketeering and fraud in taking sports bets from U.S. residents.

The Justice Department is seeking the forfeiture of $4.5 billion, cars and computers from the defendants, including BetOnSports PLC and three other companies.

BetOnSports Chief Executive David Carruthers and four other defendants were arrested over the weekend. Carruthers was being prevented from boarding a flight Sunday from Texas to Costa Rica, where the company has operations.

The 22-count indictment was unsealed Monday in St. Louis, where a federal judge also ordered BetOnSports to stop accepting bets placed from within the United States.

Several of the defendants live outside the United States, which will make them hard to catch, said U.S. Attorney Catherine Hanaway in St. Louis.

"This is a tough crime to prosecute," she said.

"...It's very, very difficult to enforce United (States) law in jurisdictions that don't respect United States statutes," Rep. Jim Leach, R-Iowa, who's leading a push for tougher laws, told CBS News in April.

Among those who live abroad is Gary Stephen Kaplan, the founder of BetOnSports, which is incorporated in the United Kingdom and listed on the London Stock Exchange.

Trading of the company's shares was suspended in London on Tuesday. Shares of BetOnSports fell as much as 24 percent Monday following news of Carruthers' arrest, but they recovered to close 17 percent lower at $2.24.

In the fiscal year ending Feb. 5, BetOnSports reported a 65 percent gain in operating profit on continuing operations to $20.1 million. The company said it handled $1.77 billion worth of bets for the year, up 25 percent.".........................

http://www.cbsnews.com/stories/2006/07/18/national/main1812590.shtml

Entry #454

Comments

1.
time*treatComment by time*treat - July 19, 2006, 7:04 pm
If the U.S. statutes (and those that put them in place) were not chock so full of dung, perhaps more jurisdictions would "respect" them. No one burns the Swiss flag.
2.
konaneComment by konane - July 19, 2006, 7:15 pm
The US was respected before the leftist biased press made sure to systematically tear us down in the eyes of the world. Revisionist re-education at its finest.

Repeat a lie long enough and it becomes the truth to all those who do not question the source.

I maintain there is more percolating beneath the surface than there appears to be which may take months to get to the bottom of it as far as public information.

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