Almost one month after his July arrest, David Carruthers, former BetonSports, Plc. chief executive, was released on bail today after being indicted for racketeering and fraud charges.
Carruthers was released on a $1 million bond and must remain in the St. Louis, Mo., area until his trial. He had paid his bond and was supposed to be released Tuesday, but the complete conditions for his release had not yet been met.
According to his bail conditions, Carruthers must have a dedicated phone line installed where he will be staying in St. Louis. The phone line hadn't been installed yet, so he had to spend an extra night in jail while it was installed.
He will be living in a hotel while he awaits trial and won't be allowed to leave the hotel except for court appearances, meetings with his attorney, and medical emergencies. Carruthers will also have to wear an ankle bracelet to monitor his location at all times.
Another stipulation of his release was that Carruthers' bond money couldn't come from the treasury of BetonSports, Plc. His attorney didn't say how the money was raised but that it was raised through legal means.
Carruthers was arrested July 17 at the Dallas airport while on a layover. He and several other defendants connected to BetonSports, Plc. are facing fraud and racketeering charges in connection with sports bets the company took from U.S. customers.
The defendants have all entered not guilty pleas and are awaiting trial.