BetonSports: The world is yours

David Carruthers improbable rise to the top of an online gambling firm with roots in Brooklyn have made the world sit back and take notice, but more so because of what could be the climatic ending.

Carruthers along with 10 of his peers from BetonSports.com, including the firm's colorful founder, Gary Kaplan, were indicted last Monday on various felony charges stretching the gamut from the Wire Act violation, Racketeer Influenced and Corrupt Organizations (RICO) Conspiracy, interstate transportation of gambling paraphernalia, interference with the administration of Internal Revenue laws and tax evasion.

When David Carruthers was arrested last Monday night at Dallas Airport, panic spread through the online gambling industry and those industry moguls who once thought they were beyond reach of US government officials as a result of their nationality suddenly learned otherwise.

Flamboyant and outspoken Canadians the likes of Calvin Ayre announced the abrupt cancellation of his company's much anticipated conference to be held in Las Vegas starting today. Execs from British gaming firms, including Sportingbet, were thanking their lucky stars having been in the United States at the time of Carruthers arrest, fortunate enough to leave for Europe without incident.

More than Ј600m was wiped from the value of the sector as investors took fright.

And now word of a potential class action suit by investors against the online gambling giant, BetonSports.

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