December 22, 2008

PartyGaming co-founder pleads guilty to Wire Act charges, sentencing set for 2010

PartyGaming co-founder Anurag Dikshit pleaded guilty in New York yesterday to charges under the Wire Act and to operating an “internet gambling business which offered casino and poker games, among other games of chance, to customers” in the US from around 1997 to October 2006 and to using communications “wires to transmit bets and wagering information in interstate commerce”.

Dikshit posted bail on a US$15m personal recognisance bond, his travel will be limited to his main residence of Gibraltar and New York but he may also be able to travel to India and the European Union.

He has agreed to forfeit US$300m to the US authorities and has already paid US$100m of the amount, with another US$100m to be paid in three months and the final US$100m prior to his sentencing on 16 December 2010 or on September 30 2009.

According to the Financial Times, the two-year gap between his hearing and sentencing means he will be able to show he is co-operating with the US authorities and will be unlikely to face a jail term of up to two years.

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