BetOnSports founder remains jailed

jail

BetOnSports Plc founder Gary Kaplan is going nowhere.

The New York Post reported that on Saturday Kaplan lost his bid to be freed on bail as he awaits trial. U.S. District Judge Carol Jackson in St. Louis federal court denied Kaplan's request to be released. Initially he was denied by a federal magistrate in July.

"There is no condition or combination of conditions of release that would reasonably assure the defendant's appearance," Jackson was quoted as saying in the ruling.

BetOnSports was a huge player in the online gambling industry in the early 2000 and was making billions of dollars a year.

In July 2006 the company was indicted by U.S. authorities on charges of racketeering, mail fraud and tax evasion. All this took place before the Unlawful Internet Gambling Enforcement Act went into effect. Several of the executives who were indicted remain in U.S. custody although no date for trial has been set.

Later that month CEO David Carruthers was arrested in Dallas while returning from the company's AGM in Costa Rica. Carruthers remains under house arrest in Missouri while awaiting trial.

The company has since terminated Carruthers and agreed to stop taking U.S. customers.

In March 2007 Gary Kaplan was arrested in the Dominican Republic. Kaplan had large sums of various currencies of countries where extradition is difficult, a detailed plan to win diplomatic protection in Nicaragua outlined in a notebook and passports with different names and places of birth.

Kaplan has offered to pay for a security detail to guard him and volunteered to wear electronic monitoring equipment.

The trial date is still pending.

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