Resolution of BetOnSports civil case may be near

[johnny1212]

By Robert Patrick
ST. LOUIS POST-DISPATCH
10/16/2006

A resolution of the civil action filed by federal prosecutors against BetOnSports should be finalized by next week, lawyers said in court this morning.

Jeffrey Demerath, a lawyer for BetOnSports, told U.S. District Judge Carol Jackson that the company received a proposed consent order from prosecutors Thursday night and couldn't get everyone from the company board of directors together over the weekend to review the document.

Assistant U.S. Attorney Michael Fagan told Jackson that there was no substantive disagreement over the proposed order but a week's delay should allow both sides to come to an agreement.

"We're confident that a week… will make that possible," Demerath said.
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Federal prosecutors from St. Louis and Washington, D.C. filed civil and criminal charges this summer against the company, which at the time was one of the largest online gambling companies in the world, as well as employees and associated companies and employees.

Prosecutors also won a temporary restraining order that barred the company from accepting bets from U.S. customers. BetOnSports announced Aug. 11 that it no longer would accept U.S. bets and would refund money in customer accounts when it became available.

About $4.6 billion was wagered with BetOnSports from 2001 to 2005. Most of the almost 10 million bets placed in 2005 came from the U.S.

The lawyers did not release any details of the proposed order today. The initial restraining order asks the company to forfeit $4.5 billion and other property and hand over business records.
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