BETonSPORTS Indictment Rocks Online Gaming Industry
The $12 billion-a-year online gambling industry was shaken this week after a grand jury in St. Louis indicted BETonSPORTS and some of its executives.
The indictment of the BETonSPORTS executive for racketeering should add momentum to U.S. legislation that aims to ban broader type of Internet gambling, two Republican backers said on Tuesday.
"This recent indictment of online gambling executive strengthens the need for legislation to ban Internet gambling," Sen Jon Kyl, an Arizona Republican and bill backer, said in a statement.
"I am hopeful that legislation I intend on moving through the Senate this year will provide the Justice Department with the tools necessary to continue aggressively pursuing those that wish to circumvent the rules and engage in this sort of illegal activity."
The U.S. House of Representatives overwhelmingly approved a bill earlier month that would prohibit most forms of Internet gambling and make it illegal for bank and credit card companies to make payments to online gambling sites.
A similar bill is pending in the U.S. Senate, where supporters are scrambling to win passage before an August recess.
The high-profile case is being prosecuted by a newly appointed U.S. Attorney in St. Louis, Catherine Hanaway, and accuses Kaplan of taking bets from undercover federal agents. The government said in court documents it could seek forfeiture of more than $4.5 billion and other assets from the company and its executives.
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