BetonSports Pleads GuiltyCompany Faces Fines Possibly in the Millions |
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One chapter of the saga between offshore online gambling companies and the U.S. Government concluded in St. Louis in May when BetonSports pleaded guilty to the racketeering and conspiracy charges that were brought against it by the U.S. Attorney General's Office.
According to U.S. Attorney Catherine L. Hanaway, who represents Eastern District of Missouri where the charges were filed, the guilty plea "constitutes a submission by the company to the U.S. justice system."
The racketeering and conspiracy charges stem from laws that have been on the books since the 1960s. The rules of Unlawful Internet Gambling Enforcement Act, which was signed into law in October, have nothing to do with this case. In fact, the UIGE Act doesn't go into effect until July.
The company is facing stiff fines that could soar to multimillions - up to double the amount of the financial gain the company made by breaking the laws as of June 1, 2006. Sentencing has been set for Oct. 19, 2007.
The fact that no more members of BetonSports can be charged with any wrongdoing in relation to this case, other than the ones already charged, had to have been a major consideration for the company. The U.S. already charged 11 BetonSports employees with the same as it levied against the company. As part of the plea, the company agreed to supply evidence, including witnesses, in the pending cases.
No trial date has been made for the remaining defendants.
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