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Former BETonSPORTS CEO Carruthers freed on bond

Online GamblingOnline Gambling: Former BETonSPORTS CEO Carruthers freed on bond

David Carruthers, the former chief executive of indicted online gaming company BETonSPORTS Plc, was freed on Wednesday on $1 million bond with strict curbs on his movements.

Carruthers, 48, must wear an electronic monitoring device and remain confined to a St. Louis residence except for special circumstances until his trial on racketeering and fraud charges, according to the court-ordered terms of his bond.

BETonSPORTS fired Carruthers after his July 16 arrest during a layover at a Texas airport and last week announced it had shut down its operations in Costa Rica and Antigua serving U.S. bettors. The company and a dozen executives, several from related Florida companies, are the subject of a 22-count federal indictment in St. Louis.

The indictment against the London-based company, which charges it with failing to pay billions of dollars in excise taxes, sent a shudder through the burgeoning online betting industry — for which the United States is a key market.

Analysts say U.S. authorities want the courts to make online betting illegal based on an application of the 1961 Wire Act.

A judge in St. Louis has enjoined the company from taking bets from the United States through at least Sept. 1 and ordered BETonSPORTS to repay bettors from their outstanding accounts.

BETonSPORTS, which has pledged to make good on its debts, has yet to offer a defense to the U.S. charges, or even to have a lawyer present in court.

Trading in its shares has been suspended for more than three weeks.

Reuters

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4 comments. Last comment 10 years ago by EXCALIBUR.
Page 1 of 1

United States
Member #16612
June 2, 2005
3493 Posts
Offline
Posted: August 17, 2006, 12:08 am - IP Logged

Will Mr. Carruthers go back on trial? I hope so. I hope this company get out of business of trading shares.

    LOTTOMIKE's avatar - cash money.jpg
    Tennessee
    United States
    Member #7853
    October 15, 2004
    11338 Posts
    Offline
    Posted: August 17, 2006, 4:31 am - IP Logged

    will mr. carruthers go back on trial.

    I HOPE NOT.

     

    i guess your against betslips and prime time too huh????

     

    i don't think too many people here at the post wouls share your opinion on this matter.we are gamblers here........

      Todd's avatar - Cylon 2.gif
      Chief Bottle Washer
      New Jersey
      United States
      Member #1
      May 31, 2000
      23260 Posts
      Offline
      Posted: August 17, 2006, 8:31 am - IP Logged

      Lottomike,

      I have tried asking him why he keeps posting anti-gambling stuff on the forums, and I have never gotten an answer.  I have gotten to the point where I just stop asking.  I don't even want to fathom a guess what the issue may be.

       

      Check the State Lottery Report Card
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      Sign the Petition for True Lottery Drawings
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        Avatar

        United States
        Member #2460
        October 7, 2003
        766 Posts
        Offline
        Posted: August 18, 2006, 1:57 am - IP Logged

        Yes, I don't know why antigamblers would be and stay here for so long also, we are not going to change, no matter what he or anybody else says.

        As I have said many times before, "Who-Ever gives the best service also gets the most business"

        And those offshore online gambling sites pay more, to me that is giving much better service.

        So they deserve more to get my business than the state lotteries.

        Down with any and all monopolies, even lottery ones.

        There is nothing wrong with gambling, mankind has always done this in one way or another.

        EXCALIBUR is no more that "Handle" is dead, gone.
        Maybe sometime in the future I might come back as LANTERN again, but maybe not, if I don't come back as LANTERN in the future then I won't come back at all, but as I said there is no more EXCALIBUR.