Tuesday, May 15, 2007

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BetonSports founder pleads not guilty

By Christopher Hunt

The St. Louis Post-Dispatch reports Gary Kaplan, founder of online gambling company BetonSports.com, pleaded not guilty to racketeering, fraud and tax evasion charges yesterday in U.S. District Court.

One of 11 people indicted in July 2006 for taking sports bets over the phone and Internet from American customers, Kaplan was arrested in March in the Dominican and extradited to St. Louis, where the charges had been filed.

He has been custody since then - along with former BetonSports CEO David Carruthers, who was arrested shortly after the indictment came down - while BetonSports legal representatives negotiated civil settlements and a repayment scheme for more than $4 billion in betting profits.

Appearing before a U.S. Magistrate yesterday, Kaplan acknowledged he understood the charges against him and entered his plea of not guilty.

He'll be held in custody until May 25, when a detention hearing will decide if he'll be released on bail.

Related Articles:

Possible Plea Arrangement for BetonSports
BetonSports Skips Another Hearing
BetonSports Plc. Reaches Preliminary Agreement
Former BetonSports, Plc. Exec Out on Bail

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