Feds Indict Fugitive Online Betting Operators - InformationWeek
IoT
IoT
News
News
5/18/2006
12:09 PM
50%
50%
RELATED EVENTS
Moving UEBA Beyond the Ground Floor
Sep 20, 2017
This webinar will provide the details you need about UEBA so you can make the decisions on how bes ...Read More>>

Feds Indict Fugitive Online Betting Operators

The Department of Justice has filed a dozen money-laundering charges against the fugitive owners of an online gambling Web site.

The Department of Justice on Wednesday announced a dozen money-laundering charges against the fugitive owners of an online gambling Web site who walked away with a quarter of a billion dollars.

"This indictment underscores the Justice Department's commitment to attacking illegal Internet gambling concerns by using federal anti-money laundering laws," the DoJ said in its statement.

William Scott and Jessica Davis laundered some $250 million raked in by their Internet betting site, which they sold in 2003 to an Australian company, Betcorp.

The pair, who have been on the lam since a separate 1998 criminal indictment in New York, walked off with their site's $250 million in profits. The government has attempted to freeze numerous bank accounts, but has been only partially successful; according to the DoJ, in 2003 it seized some $7 million out of $10 million Scott had in an account in Guernsey, a small island off the coast of France.

Scott and Davis have been charged with 12 counts of conspiracy, money laundering, and failure to disclose foreign financial accounts. The IRS is involved in the investigation because of the latter charge.

Scott, 65, remains in Antigua and Barbuda, a two-island Caribbean country east of Puerto Rico. Scott previously served time in federal prison for convictions on extortion, conspiracy, and racketeering charges.

Although Congress has considered legislation to ban online gambling, it has failed to move a bill. Opponents have argued that laws cannot stop Internet betting, since it can easily jump national borders.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
IT Strategies to Conquer the Cloud
Chances are your organization is adopting cloud computing in one way or another -- or in multiple ways. Understanding the skills you need and how cloud affects IT operations and networking will help you adapt.
Video
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll