casinos executive denies that his company is holding up payment
The ongoing tragedy of an
online casinos decline (as recently reported in online casinos
news articles and online casinos press releases) continued
recently as assertions and denials went back and forth regarding
payouts to online casinos players as ordered by a US federal
Following Department of Justice prosecutions and a restraining
order from a federal court, the embattled casinos group has had
to close its online casinos site to all US players, a move that
slashed some 80 percent of its online casinos business off the
books. The order also required the online casinos company to pay
deposits back to players, something an online casinos spokesman
for the firm said it could not do owing to a suspension in its
contracts with e-cash processing companies.
This week, in an exclusive interview with an online casinos news
site, the Vice President of a top e-cash processing firm for
online casinos flatly denied his eProcessing company is
preventing monies from being transferred by the troubled online
casinos firm to its customers.
"(Our firm) is not holding any funds from (the troubled online
casinos firm) and thus has not frozen or held any reserve funds
from this company." Andrew Gilchrist, the VP of Corporate
Development and Communications said.
Gilchrist went on to tell the online casinos news website that
his firm halted all transfers to the troubled online casinos
firm following the indictments by the US Department of Justice
against certain related companies and individuals but has
continued to allow transfers from the company to facilitate
member payouts. Transfers to and from another company’s
Asian-facing wallet are operating as usual.
Adding more fuel to the fires of player and investor discontent
were reports in a news site that advertising venues have been
asked to refund money back to the firm via a dormant company
owned by the firm’s dismissed CEO David Carruthers, who has just
been released on bail but remains confined to a DoJ approved
hotel in the city of St. Louis, Missouri pending charges under a
22 count grand jury indictment.
The news site reports that investigations by a top online gaming
publication have shown that advertising venues were asked to
send refund credits due to the firm to World Answer LTFD, run by
Both sites are seeking lawyers.
Earlier, the British newspaper The Observer reported on moves
being considered by disgruntled investors, saying: "Shareholders
in (the troubled firm) PLC, the British internet gaming group
that has been targeted by a US crackdown on online gambling, are
considering taking legal action against the company's advisors
Evolution Securities and Baker Tilly. They are unhappy that the
history of the company's founder Gary Kaplan was not made clear
at the time the company floated two years ago."
Over the weekend, reports started to surface that that all
previous firm related phone numbers had been disconnected
without advising increasingly impatient players and investors of
new contact addresses and channels.