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Online Casino Mogul Takes US Plea Offer
ST. LOUIS, MISSOURI --
Gary Kaplan, the online casino entrepreneur who has been sitting in US prison for two years, agreed to a plea arrangement with the US Department of Justice. In return for confessing to committing crimes and paying $43.6 million in forfeitures, Kaplan's sentence in his sports betting case should be no more than 51 months, minus time served.
Kaplan founded online sports betting site BetOnSports in 1995. He testified that, because his servers were located in Antigua and Costa Rica, he believed his actions were legal, until he ran into difficulties taking his company public. Nevertheless, he kept operating.
BetOnSports eventually did go public, on the London Stock Exchange. Kaplan stayed on as a consultant after the stock divestiture.
Kaplan estimated that at iits peak, BetOnSports handled over 10 million bets annually, with a total value over a billion dollars. Prosecutors say Kaplan misled players into thinking they were using a legitimate service.
Kaplan was indicted in 2006, and was finally arrested in Puerto Rico in 2007after he had scrambled to find a place safe from US prosecution.
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Recent Comments
| Posted by Online Casino on 08/19/2009 05:30:19 AM EST |
| I feel that Kaplan broke the US laws for online casino gambling service in US. But if the government approved the online casino site to do the business according to the norms then there is no issue. |
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