Neteller Executive Denies That His Company Delays Payments

On the heels of a Department of Justice prosecution and restraining order, the embattled online gambling group, BetonSports, closed its site to US players, slashing 80% of its business. The order also required the company to refund deposits. A spokesman said this was impossible owing to a suspension in its contracts with e-cash processing outfits like Neteller.

The Vice President of Neteller flatly denies his eProcessing company is preventing monies from being transferred to its customers by BetonSports. “Neteller is not holding funds from BetonSports.com and has not frozen any reserve funds from this company. Neteller halted all transfers to BetonSports.com following the indictments by the US Department of Justice against certain related companies and individuals, but has continued to allow transfers from the company to facilitate member payouts.”

Adding fuel to the fire are reports in Gambling911 that advertising venues have been asked to refund money to BetonSports. CEO David Carruthers has been released on bail but remains confined to a DoJ approved hotel in St. Louis, Missouri pending charges.

Investigations by online gaming publication TheOnlineWire.com have shown that advertising venues were asked to send refund credits due to BetonSports to World Answer LTFD, run by Carruthers.

The British paper, The Observer, reported on moves being considered by disgruntled BetonSports investors: “Shareholders in BetonSports PLC, are considering taking legal action against the company’s advisors Evolution Securities and Baker Tilly. They are unhappy that the history of the company’s founder Gary Kaplan was not revealed when the company floated two years ago.” The publication also reported the shocking news that an unidentified executive of BetonSports subsidiary Easybets.com had offered to provide information on events at BetonSports for an undisclosed price

Over the weekend, reports surfaced that that all previous BetonSports related phone numbers had been disconnected without advising players and investors. Observers reported that new numbers would likely not be in the company’s traditional Costa Rica region but would probably be moved to the UK where the directors continue to reside.

Gambling911 reported that up until the lines closed down, company employees had been answering enquiries and were able to verify balances and target dates for payments ranging between 30 to 90 days.

Back to Lastest Gambling News
Back to Gambling News Archive
Back to Gambling News - August 2006 Archive