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BETonSPORTS plc CEO arrested in Dallas

Posted by malcolm on Tuesday, July 18th, 2006 at 9:48

David Carruthers, CEO of AIM-listed BETonSPORTS PLC has been arrested at Dallas airport while changing planes for Costa Rica. A federal grand jury has issued indictments against Carruthers, Betonsports plc and 11 other individuals on charges of racketeering, conspiracy and fraud.

Carruthers was returning to the company’s Costa Rican headquarters from the company’s AGM in London.

American laws ban interstate gambling and Carruthers was a vocal opponent of legislation currently before Congress to ban credit card companies and banks from processing internet gambling payments.

Betonsports PLC has a market capitalisation of approximately £120m and says it employs about 2,000 staff. Shares fell 24.5p to 122.5p yesterday on news of Carruthers’ arrest and were suspended before start of trading today, following the company’s request and on news of the seriousness of the charges. Shares in other online gaming companies fell at the start of trading today.

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