Tuesday, July 18, 2006

ONLINE GAMBLING ARREST -- "In a sharp escalation of their crackdown on Internet gambling, United States prosecutors said yesterday that they were pressing charges against the chief executive of BetOnSports, a prominent Internet gambling company that is publicly traded in Britain, and against several other current and former company officers." See also WSJ Law Blog.

And the fallout for his company: "Shares of Betonsports Plc were halted in London after the U.K. Internet gambling company and its chief executive officer were indicted in the U.S. on criminal charges. Stock in PartyGaming Plc and Sportingbet Plc slid."