The parent company of Antigua-based BetonSports has pleaded guilty to federal racketeering charges, US Attorney for the Eastern District of Missouri, Catherine L. Hanaway announced on Thursday.
In a statement published last week, the US Department of Justice revealed that:
"BetonSports, PLC, admitted today to its involvement in a racketeering conspiracy. As part of the plea agreement, the US Attorney for the Eastern District of Missouri agreed that as long as the company lives up to its obligations under the plea agreement, including supplying witnesses and evidence in the pending cases against co-defendants, no further criminal prosecution will be brought in this District relative to its participation in the Kaplan Gambling Enterprise between July 2004 and the present date."
“This plea, combined with the terms of the civil junction, should put an end to the BetonSports illegal gambling empire,” added Hanaway.
She continued:
“BetonSports, PLC is presently the corporate parent, based in the United Kingdom, of the companies comprising the vast illegal internet gambling operations described in the indictment. BetonSports, PLC had been failing to appear and answer the criminal charges in the indictment and Judge Jackson had imposed sanctions against the company. This plea constitutes a submission by the company to the US justice system.”
According to the DoJ, by pleading guilty to the racketeering conspiracy charge, BetonSports admits that it conducted an enterprise through a pattern of racketeering acts, including repeated mail and wire fraud, operated an illegal gambling business, laundered money and admitted to multiple state gambling felony charges.
The company faces a fine of up to $500,000 or more, as the maximum fine can be double the financial gain from or loss caused by the enterprise. It also faces possible forfeitures, and is subject to a permanent injunction, which requires it to repay money received from US gamblers held by the company as of June 1, 2006.
As noted in the plea agreement, at the present time there is no intention to charge any past or present individual BetonSports PLC director, other than those already charged. Sentencing has been set for October 19, 2007.
No trial date has been set for the remaining co-defendants.
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