Click Now!

Prosecution Asks for More Time in Online Casino Case

The prosecution in the case of BetonSports asked the U.S. court to expand its order over the online casino company’s employees and assets in order to complete their full investigation into the matter. BetonSports’ executive was arrested and all of the online casino operator’s assets and company belongings were froze in an operation by the Department of Justice. The online casino operator is charged with offering Americans online gambling services while avoiding tax payments to the United States.

This will be the second extension of the original court order. The prosecution is seeking to finish their case and have a solid and accurate report for the court, and for that, they need more time. The online casino company is based outside of the Untied States, and is listed in the London Stock Exchange Market, what makes it difficult to gather information and analyze it quickly. There are many people involved in the online casino operation, and the prosecution wants to be sure that everyone that committed a crime will be linked to the case.

The online casino operator is currently facing charges of tax evasion that reaches $3.3 billion in wagers. Another reason for the prosecution’s request to extant the court order for the online casino company, is to have more time to clear a bureaucratic technicality that aroused during their investigation, and has to be answered before trail begins. The online casino groups was focusing on the United States market with more than 80 percent of its revenue coming form Americans practicing online gambling. With their U.S. business down, the future of the company, company is unclear.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

COMMENTS

comments