According to widespread reports in the Malta mainstream media, a Greek national working on the island of Malta as an executive with online sportsbook and casino company Gold Victory Limited was arrested over the weekend on allegations of misappropriation of Euro 500 000 from customer accounts.
In a bail hearing Dimitros Drosos (42) pleaded not guilty to misappropriating the funds from Gold Victory, a company which is registered in Malta and operates the Gold Victory website.
Police decided to first investigate and then prosecute Drosus after being asked to intervene in the case by the Lotteries and Gaming Authority of Malta – the regulating authority for online gambling.
Drosos was granted bail by Magistrate Edwina Grima against a deposit of Euro 70 000 and a personal guarantee of Euro 5 000. The court also ordered that all his assets should be frozen.
One report is that Drosos was not immediately able to meet the bail requirements and was therefore held in custody, but was later moved to a local hospital for medical reasons.
Drosos is charged both personally and as company director and legal representative of the gaming company and was defended by Dr Stefano Filletti.
The criminal investigation is being led by Inspector Ivan Cilia of the Malta police.
Gold Victory.com is a sportsbook and casino using Arland Technologies software licensed in Malta.
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