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Bet On Sports gets fined $5000 per day

Posted by: yorktown (Moderator)

Date: February 6, 2007 01:17PM

From Jackpot.co.UK
http://www.jackpot.co.uk/online-casino-news/betonsports-fine-060207.html

A federal judge in St. Louis has ordered London-based gambling company, Betonsports, to pay $5000 per day until it responds to criminal charges it has previously ignored.

Before Betonsports was targeted by US authorities as one of the first victims in the crackdown on internet gambling, the company took $1 billion in bets from US customers, according to federal prosecutors.

Since then, the company has shut down its US facing operations following a civil settlement that Betonsports hoped would cause authorities to ease up on them. However, the company is yet to fully refund money owed to customers or hand over all the documents that prosecutors have demanded.

Betonsports reportedly failed to turn up for a February 2 court hearing relating to criminal charges, including money laundering.

Following that no-show, US District Judge Carol Jackson said Betonsports, “without just cause or excuse” ignored court orders and was in contempt of court. As a result, the company has to pay the $5000-a-day fine from February 2, the date of the court hearing.

Editor, Jackpot.co.uk - 2007-02-06 11:22@#$%&

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Re: Bet On Sports gets fined $5000 per day

Posted by: JerryG (---.69.29.4.pldt.net)

Date: February 7, 2007 11:41AM

"However, the company is yet to fully refund money owed to customers or hand over all the documents that prosecutors have demanded."

The article should have mentioned that paying these refunds would put them in violation of another court order from Antigua.

Global Gaming News

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Re: Bet On Sports gets fined $5000 per day

Posted by: Marlon (---.racsa.co.cr)

Date: February 8, 2007 06:45AM

Clive Archer is such an idiot - he dererves everything that is coming to him...he should have never shut down the sites because it lost any leverage they had.

If you want to blame anyone for the iGaming meltdwon, it is Clive...

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Re: Bet On Sports gets fined $5000 per day

Posted by: JerryG (---.69.31.223.pldt.net)

Date: February 8, 2007 08:30AM

I did a lot of work with Clive back when he was at Gaming Club, and had nothing but positive experiences with him.

I do not know exactly what went into the decision making process to shut down BoS. I do know that Clive is only one person on the Board of Directors, so it is hard for me to place all the blame on him entirely. My guess is that this was a decision that was made based on the advice of a team of attornies, not to mention that the ultimate decision on what to do would have ultimately been given to Kaplan and Norman, who were probably in a hurry to get out of the country.

Global Gaming News

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Re: Bet On Sports gets fined $5000 per day

Posted by: offshore (200.122.153.---)

Date: February 8, 2007 08:49AM

I think you are partially correct.

The decision was made by MORE than one individual.

Unfortunately, the decision was probably made under the counsel of US Attorneys.

Needless to say, the counsel any US Attorneys would provide would be biased and incomplete to say the least.

Their concept is that online gaming is ILLEGAL, and as such any advice they would provide is flawed from the outset, as it only pertains the the fascist fifedom of the USA

Unfortunately many people do not understand the narrow minds of most USA Attorneys, and limitations placed on all USA Attorneys by the laws that govern them in the USA.

One would expect that BOS, or any "global" business, domiciled OUTSIDE the USA to have a more global attitude and mindset.

Obviously in this instance, that was not the case.



----
[offshoreXplorer.com]
Fast, Safe, Private and Professional Offshore Services since 1997

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Re: Bet On Sports gets fined $5000 per day

Posted by: Marlon (---.racsa.co.cr)

Date: February 9, 2007 07:49AM

ah...no.

1 - I was there. My office was "across the street", and I knew the executive very well. (to the point of them providing me with a BoS Employee Pass, so I could visit)

2 - "ultimate decision on what to do would have ultimately been given to Kaplan and Norman" - not even close. They were so far out - G had no decision making anymore.

3 - Dalton fought his ass off to keep the sites up, while Clive scittered about like a frightened mouse. At one point he walked into the marketing department and told his son to get out of the country immediately. Did he pull him aside? Nope...really instilled some fear in the rest of the employees.

4 - The Board was split on the issue, with the non-executive disinterested directors swaying the vote. Clive never spoke up once - he honestly looked frightened, and has the leadership qualities of a Do-Do Bird.

5 - The lawyers were told what to do by Clive and Richard Creed, not the other ay around. Clive and Richard blame the entire fiasco on David and visa versa.

6 - BoS still hasn't paid out a penny to customers, and still owes ex-employees money. This is while Scott Waller goes and takes all the servers to start up a new software company. Nice. And I'll tell you, Clive, Richard and Craig Lapsey aren't suffering.

7 - David thinks he is not going to be convicted. He will get 5 years and do 2.

8 - You don't pour gasoline on a fire, yet the Board thinks that the case will disappear. Kinda like ostriches.

9 - Lesson learned - when you take a company public, don't hire a board of directors because the city likes them. Keep founders and major shareholders in control.

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Re: Bet On Sports gets fined $5000 per day

Posted by: SR (---.uk.thecloud.net)

Date: March 15, 2007 09:25PM

clive and richard are the two niicest men i have ever met.

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