Per TOW, BOS resuming business, cut a "deal?" (Retracted)

ppeter · Jul 19, 2006

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TOW News
</TD></TR><TR><TH vAlign=top align=left>7/19/2006
BETonSPORTS strikes deal with DoJ

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Publicly traded BETonSPORTS attorneys reached an agreement with the US Department of Justice yesterday night, TheOnlineWire.com learned. The agreement is aimed to allow BETonSPORTS to return to business by the end of this week.
The DoJ wants Gary Kaplan and his direct partners. Kaplan, 47, was charged with 20 felony violations of federal laws including: the Wire Act, Racketeer Influenced and Corrupt Organizations (RICO) Conspiracy, interstate transportation of gambling paraphernalia, interference with the administration of Internal Revenue laws and tax evasion.
David Carruthers and Peter Wilson are the only two remaining individuals within the BETonSPORTS organization that had close ties with Kaplan. They will probably leave the company to ensure the DoJ that BETonSPORTS is now completely free of ties with the past.
A hearing to decide the fate of BETonSPORTS and its Costa Rica based operations will be held within 48 hours. Management is cautiously optimistic on the outcome of the hearing that might allow the company to resume operations which were discontinued yesterday in abidance to the DoJ requests. Operations may resume as early as next Friday.
BETonSPORTS.com CEO David Carruthers was detained by US federal authorities while changing flights Dallas en route from the United Kingdom to Costa Rica last Sunday.
He appeared in Court at the Federal Court House in Fort Worth, Texas, Monday where he was indicted on Racketeering, Conspiracy and Fraud charges.
Carruthers remains in custody at least until a detention hearing can be held Friday in Fort Worth.
This positive news may also allow BETonSPORTS to resume trading its shares on the London Stock Exchange. Trading on the AIM was suspended Tuesday per the company's Board of Directors request.
While this may represent refreshing news for the publicly traded sports betting giant and its shareholders it could also confirm that Gary Kaplan, Norm Steinberg and all their associates may face serving time. Kaplan, Steinberg and Carruthers may serve up to 20 years if found guilty on all counts.
Originally published on July 19 2006 – TheOnlineWire.com Exclusive Reports - All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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xpanda · Jul 19, 2006

Sounds like there's some weight to the theory that it's less about internet gambling than we thought.

Interesting commentary by Kyl and others, in light of that fact.

wilheim · Jul 19, 2006

A hearing to decide the fate of BETonSPORTS and its Costa Rica based operations will be held within 48 hours.

That is what I was informed yesterday and then posted at top of this forum at the time.

wil..

ppeter · Jul 19, 2006

wilheim said:
That is what I was informed yesterday and then posted at top of this forum at the time.

wil..

Yes, but the statement that is most interesting is: "The agreement is aimed to allow BETonSPORTS to return to business by the end of this week." That would seem to imply the DoJ is consenting to lift the injunction or is at least taking no position regarding the injunction staying in place. Then again, TOW is not exactly the AP so not sure how reliable the reporting is. Nevertheless, kudos to Roberto (and Wil) for staying on top of this situation.

Makers · Jul 19, 2006

Reuters
No BETonSPORTS deal with US prosecutor: source
Wednesday July 19, 6:48 am ET
LONDON (Reuters) - Online gaming group BETonSPORTS (London:BSS.L - News) has not reached a deal with U.S. prosecutors over charges against the company and its chief executive, a source close to the situation said on Wednesday.
Shares in online gaming companies had earlier rallied after a gaming news Web site published a report saying the U.S. Department of Justice had reached a deal with BETonSPORTS allowing it to resuming trading by the end of the week.
"No deal has been done between BETonSPORTS and the Department of Justice," the source told Reuters

xpanda · Jul 19, 2006

Makers said:
Shares in online gaming companies had earlier rallied after a gaming news Web site published a report saying the U.S. Department of Justice had reached a deal with BETonSPORTS allowing it to resuming trading by the end of the week.

A pseudo-pump 'n' dump???? Tsk tsk, Roberto!

(Kidding! :>Grin>)

RxRook · Jul 19, 2006

xpanda said:
Sounds like there's some weight to the theory that it's less about internet gambling than we thought.

Interesting commentary by Kyl and others, in light of that fact.

What comments by Kyle and others?

xpanda · Jul 19, 2006

RxRook said:
What comments by Kyle and others?

Kyl and Goodlatte both heralded the arrests as moves to improve their chances of anti-gambling legislation being passed by Senate.

http://www.abcnews.go.com/Politics/wireStory?id=2208114

Sportsrmylife · Jul 19, 2006

xpanda said:
Kyl and Goodlatte both heralded the arrests as moves to improve their chances of anti-gambling legislation being passed by Senate.

http://www.abcnews.go.com/Politics/wireStory?id=2208114

The thing that Kyle and Goodlatte are failing to realize about this case is that it has more to do with illegal bookmaking and not with the online gambling. BoS had buses set up in the US at sportsing events and took bets which is totally illegal in the USA. Kyle and Goodlatte are trying to show that they are getting pinched because of the internet.

I wonder if the charges are going to seperate the two? I see this like a mom who is protesting for MADD and then there is a story about someone getting arrested for an open container on a street corner and saying that it is the reason to ban alcohol everywhere...except at weddings, graduations, and XMas parties.

Concorde · Jul 19, 2006

Wall Street (1986)

Starring: Charlie Sheen, Michael Douglas, Tamara Tunie.
Director: Oliver Stone.

aceduecetrey · Jul 19, 2006

when was the last time TOW was right about anything?

orbit · Jul 19, 2006

Ha ha Ha Ace! You got that right!! ... he was probably salivating over breaking a BIG story and then once again looks like an idiot.

O.

red007 · Jul 19, 2006

We're very pleased that the Justice Department is taking action here with the laws they have available," Goodlatte told Reuters. "We join with them in trying to make it clear that the law covers all forms of gambling."

yeah, like horse racing you hypocritical bastard

Sugarbear · Jul 19, 2006

Sportsrmylife said:
I wonder if the charges are going to seperate the two? I see this like a mom who is protesting for MADD and then there is a story about someone getting arrested for an open container on a street corner and saying that it is the reason to ban alcohol everywhere...except at weddings, graduations, and XMas parties.

Astute observation right there my man. That would be fun to see and likely to happen.

TTinCO · Jul 19, 2006

I'm going to add "retracted" to this title since the article has been pulled.

Buzzsaw · Jul 20, 2006

You should add "retarded" too. :icon_conf

Woody0 · Jul 20, 2006

red007 said:
yeah, like horse racing you hypocritical bastard

Ah, the sport of Kings.

...and lotteries, the taxation of peasants.

Polaris · Jul 20, 2006

A lot of good comments in this thread, a couple of them real funny too.

Even though I am in Canada and a complete square, I am concerned too.

Suppose I deposit for NFL in Pinnacle in September, and by October US government was able to get it's hooks into that organization. My funds are at risk.

This whole episode has at the moment limited by choice of books of where to desposit. Lower juice is threaten too.

Canbet, SIA, the UK books, I don't think the US DoJ can screw them over. But that is not a very long list of choices to deposit funds, unlike all the choices before.

Lets hope BoS, althought it is a shit book by reputation, is allowed to operate again soon. If it is allowed to re-open for business, then this whole episode may not be a serve as it looks at the moment.

Okay fellow degenerates, we need a group prayer!!!

I figure ... 8-5 that it could work ...
:smoker2:

Per TOW, BOS resuming business, cut a "deal?" (Retracted)

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