Newt Utopia: Internet Gaming
Internet Gaming.
Insider Talking: June 30, 2001
The First International Bank of Grenada loaned $30,000 to the wife of Grenada's then chief regulator, Michael Creft, so that she could buy a car and another $50,000 to the then President of the Grenada Bar Association, Reynold Benjamin, according to a document sent to OffshoreAlert; Dean Cantrell and Marcel Deinnet snap up domains in names of countries in the Bermuda-Caribbean region, fraud complaint filed against 'offshore banker' Douglas Castle, 72-year-old convicted fraudster is back in business, SEC continues trend of failing to menaingfully punish accused fraudsters, First Ecom.com Inc. acquires half of First Ecommerce Data Services Ltd. that it did not already own, Antigua gaming outfit World Sports Exchange Ltd. sues County Savings Association over three checks that allegedly bounced, First American International Bank becomes latest offshore bank to be operated in Nevis without a license by Global Dominion Financial Services, and Latvia-based Paritate Bank appears to be in financial trouble.
US government brings test case against offshore gaming operators
In what is being seen as a test case, the U. S. Government has charged 14 owners and managers of six sports betting companies headquartered in the Caribbean and Central America with conspiracy to transmit bets and wagers on sporting events via the Internet and telephones. The cases are the first federal prosecutions of sports betting over the Internet and they will be watched closely by offshore centers that have embraced gambling as a way of earning much-needed foreign currency.