Is it true that Gary Kaplan was not listed in the BOS anual report

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Other sites are reporting BOS did not list him in their anual report of shareholders with over 5% ownership. They do list some Boulder company as the biggest shareholder.

The DOJ says he owned 15%.

If the DOJ is right, the guy must really have a lot of old legal issues for BOS to hide him from the market. If BOS does not want to recognize their own owner, there might be very good reason the DOJ wants him...

-Sean
 

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THat 15% figure is probably not this year. Don't know how it is done in Europe but in the US a independent Tranfer agent handles stock ownership issues not the company. The rules in the US are if you own a certain % of stock you must notify the SEC, no idea what the rule is in europe but I Doubt BOS hid anything when it came to G's ownership.
 

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Yes Sean, you are correct. With that said, I read the Annual this morning and there were 3 entities listed. 2 were corporations that Kaplan could have partial ownership. The other was Fidelity.

Hal
 

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Net betting firm's float was queried by the LSE
By Dominic Walsh and Martin Waller

EVOLUTION SECURITIES, the stockbroker that advised BetOnSports on its flotation on the Alternative Investment Market in 2004, was closely questioned by AIM regulators about the online betting company’s suitability as a public company, The Times has learnt.

BetOnSports was indicted in the US on Monday on a range of charges including racketeering and money-laundering, forcing the company to withdraw its “US-facing” services.

A spokesman for Evolution confirmed yesterday that it had been questioned on BetOnSports’s AIM listing by the regulators. “They had full and open discussions with AIM and they seemed happy with the details provided,” he said.

The stockbroker, formerly known as Evolution Beeson Gregory, rejected suggestions that it should have disclosed the chequered past of its fugitive American founder, Gary Kaplan, in the share offer prospectus because he was not a director of BetOnSports but merely a consultant and 44 percent shareholder.

The spokesman added: “Did Evolution fulfil their obligations in terms of disclosure? Absolutely.”

The prospectus made clear the regulatory risks of running an internet and telephone betting business that targets Americans, a practice that it admitted was “in violation of US federal laws”. But the only reference to Mr Kaplan was his appointment as a consultant to BetOnSports’s Antiguan subsidiary for an annual fee of $150,000 (£80,000). It did not mention that Boulder Overseas Corporation, the Panama-registered firm floating BetOnSports, is controlled by Mr Kaplan.

The London Stock Exchange confirmed that it was up to a company’s nominated adviser to decide on the level of disclosure beyond the basic listing requirements, and AIM regulators would become involved only if they had particular concerns. The adviser would then be asked to make extra checks to ensure proper disclosure.

The Times has learnt that at least one other investment bank declined to become involved with BetOnSports’s flotation, because of concerns over Mr Kaplan’s background and the fears that, even after the flotation, he might exert undue influence on the way the company was run.

The US indictment also says that Mr Kaplan, who was first arrested for his gambling activities in 1993, failed to pay excise taxes on more than $3.3 billion of bets.

* Evolution is known for being accident-prone. In November 2004 it was fined £500,000 by the FSA for market abuse after short-selling shares in a quoted shell company, Room Service Group. Last year the broker achieved notoriety with its involvement in Regal Petroleum, a client, for which it raised £44.8 million in a placing just three weeks before the shares collapsed.<!-- google_ad_section_end --><!-- / message -->
 

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