BetOnSpots Gets Fine and Probation
December 12, 2009
Talk about beating a dead horse? The United States has literally beat the online gambling site BetOnSports to a bloody pulp, and then kept on beating them. They have already levied fines against the company that they cannot pay, yet they have just taken the online gambling site to court again and told them that they have to pay more. The company says that they couldn’t pay the other fines, what makes them think that they are going to be able to pay these?
The online gambling site got in trouble for offering bets to United States’ residents. They had reached a settlement with the US in 2006, but then were forced to plea guilty to racketeering charges the next year. This really was the nail in the coffin for the online gambling site. This latest order from the courts says that the online gambling site has to pay $28.2 million, and they have another $8 million that they owe that they cannot pay.
The founders have already forfeited their accounts for the company to pay off some of the debt that they owe, in addition to the various liabilities that they have which are in excess of any assets that they might have. On top of all of this they lost about $40 million when they government seized the bank accounts of their players.
Gary Kaplan, the founder, has already pleaded guilty in court which ended up with him giving up $44 million and 51 months in jail. His brother and sister have also taken felony conviction in addition to $6 million and ten months house arrest. The online gambling site keeps getting more fines levied against it, but there truly isn’t anything left to take.
