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Online casinos executive denies that his company is holding up payment to players

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 court.

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 Carruthers.

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.

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