Canadian firm to pay $9.1 million in Internet gambling case
- By Patrick St. Kitten
- Published 06/6/2008
- Gambling
- Unrated
A Canadian processing
company has decided to pay $9.1 million in order to drop the charges for
illegal Internet gambling by processing money transfers between
U.S Federal prosecutors expressed
that a subsidiary of the Canadian company ESI Entertainment Systems handled over
$2 billion in transfers from American gamblers in a period of four years. The
company suddenly stopped all gambling movements and started collaborating with the
U.S prosecutors after several high executives from another Canadian processing
company (Neteller PLC) were held in custody after stepping on
ESI Entertainment Systems has
agreed a deal that will close the case and stop a possible court litigation, as
part of the deal, ESI has declared itself guilty of criminal wrongdoing and will
return a percentage of the profits made during 2003 and 2007 and will put into
practice supervising procedures to block its for gambling and gaming purposes.
The case implicates
electronic payments made by and to offshore gambling websites used primordially
by American customers. Players were able to
transfer money to accounts managed by ESI used to fund online sportsbetting
wagers and other activities. ESI Entertainment Systems stated that its revenues
have been drastically reduced after Citadel Commerce Corp. renounced to do
business with
