WWTS FOUNDER FORFEITS ALMOST $7 MILLION

Thursday January 17, 2013 : WWTS FOUNDER FORFEITS ALMOST $7 MILLION
 
Sports betting industry Bill Scott also handed 3 years’ probation on Wire Act and money laundering charges
 
Bill Scott, a veteran industry businessman and founder of the offshore sports betting firm World Wide Tele Sports paid dearly for contraventions of the US Wire Act and money laundering regulations when he was sentenced on January 7 after living in exile for fifteen years in the Caribbean.
 
Scott surrendered himself to US authorities last September after being indicted for Wire Act and money laundering offences, and has since been convicted and sentenced to 3 years’ probation and the forfeiture of $6,786,935 retrieved from proceeds traced to the Royal Bank of Scotland International (Guernsey).
 
His company was based in Antigua and ultimately merged with Betcorp, an Australian group, before being bought by the Bodog group.
 
Details of the case can viewed here: http://www.fbi.gov/newyork/press-releases/2012/department-of-justice-forfeits-nearly-7-million-in-proceeds-of-unlawful-offshore-gambling-and-money-laundering-following-guilty-plea-by-william-paul-scott