Online gaming firm, BetOnSports, submitted a guilty plea to a federal court in Missouri to charges of money laundering and racketeering. Its founder, Gary Kaplan recently denied the same charges.

The London-based company will now faces fines of up to $500,000 (£251,880), plus billions of pounds in forfeitures and the return of money held on behalf of US account holders. BetOnSports will also supply witnesses and evidence in the continuing case against its founder Mr Kaplan and former CEO David Carruthers as part of the agreement to avoid further criminal prosecution.

Both men remain under arrest pending trial.

US attorney Catherine Hanaway stated that the plea “should put an end to the BetOnSports illegal gambling empire.”

According to the lawyer representing BetOnSports, Jeffrey Demerath, the firm will now cease operations and be wound up.
Tags: Bet on Sports, Gary Kaplan, David Carruthers

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