Tuesday, July 25, 2006

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BetonSports, Plc. fires jailed exec

By Sarah Polson

BetonSports, Plc. announced today it was terminating David Carruthers' employment as the chief executive of the company because of his detention by U.S. authorities.

"Clearly, while he remains in custody of the U.S. government, he is unable to perform his duties," the sports betting site said in a statement. "Further, the company has been unable to speak directly with Mr. Carruthers."

Carruthers and 10 others, including the founder of BetonSports, Gary Kaplan, were named in a 22-count indictment that accuses the company of taking sports bets from U.S. residents by phone and Internet, which is illegal in the United States. The company is also accused of failing to pay excise taxes.

Carruthers was arrested last week at the Dallas airport. He is still in custody while waiting for a bail hearing.

Since Carruthers' arrest, the company has suspended trading of its shares and been forced to shut down its Web site while the legal issues are being sorted out.

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