Results 1 to 7 of 7
  1. #1
    The Buzz's Avatar
    The Buzz is offline GPWA Gossip Hound
    Join Date
    February 2007
    Location
    Newton, MA
    Posts
    3,847
    Thanks
    345
    Thanked 1,629 Times in 988 Posts

    Default 5Dimes reaches $46.8 million settlement with US government

    5Dimes has reached a $46.8 million settlement with the U.S. government following a federal money-laundering investigation, according to a settlement agreement obtained by ESPN on Wednesday.

    5Dimes agreed to pay $15 million in cash, forfeit more than $30 million in assets and stop accepting wagers from U.S. customers while operating out of Costa Rica, according to the settlement agreement reached with the U.S. Attorney's Office for the Easten District of Pennsylvania. Earlier this month, 5Dimes suspended US operations.

    From ESPN:

    The settlement also absolves Laura Varela, the widow of 5Dimes owner William Sean Creighton, of any criminal conduct alleged against the sportsbook. Varela assumed responsibility for 5Dimes' assets after her husband was kidnapped in September 2018 and found dead a year later, but she did not have "day-to-day authority" over its operations, according to the settlement.

    "The investigation was a complete success from our perspective," Michael Lowe, assistant U.S. Attorney for the Eastern District of Pennsylvania, told ESPN. "There was gambling going on, but we discovered it, we put a stop to it."
    The non-prosecution agreement allows 5Dimes and Varela to pursue opportunities in the expanding American sports betting market. Varela, who fully cooperated with the investigation, made "significant changes" to 5Dimes's operations that make it "suitable for participating in lawful gaming operations across the world," according to the settlement agreement.

    "We achieved the objective, which is, she is compliant with U.S. federal law right now," Maria M. Carrillo, assistant U.S. Attorney for the Eastern District of Pennsylvania, told ESPN. "What that means for her is she is not operating in violation of U.S. law, and she is not actively taking bets from U.S. bettors.

    "Whether she's positioned well for regulators, that's up for the regulators to decide," Carrillo said. "She certainly is no longer in violation of federal law."

    In an interview with ESPN, Varela said she is " very, very happy and very excited about what the new chapter of 5Dimes can be."
    Read the article here: https://www.espn.com/chalk/story/_/i...ettlement-feds

    Here is the press release from the U.S. DOJ:https://www.gpwa.org/article/5dimes-to-pay-$46-8-million-in-proceeds-to-resolve-criminal-investigation-237165
    Last edited by The Buzz; 30 September 2020 at 5:00 pm.

  2. The Following 2 Users Say Thank You to The Buzz For This Useful Post:

    drifter8 (30 September 2020), Sherlock (30 September 2020)

  3. #2
    Sherlock's Avatar
    Sherlock is offline Public Member
    Join Date
    December 2013
    Location
    WC
    Posts
    4,359
    Thanks
    1,292
    Thanked 3,403 Times in 1,903 Posts

    Default

    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

  4. #3
    Malikbhai is offline Public Member
    Join Date
    September 2017
    Posts
    620
    Thanks
    162
    Thanked 333 Times in 212 Posts

    Default

    Tony's kidnapping and then mysterious murder is beginning to make a lot of sense now.

  5. The Following 2 Users Say Thank You to Malikbhai For This Useful Post:

    mymobilecasinos (30 September 2020), Sherlock (30 September 2020)

  6. #4
    Malikbhai is offline Public Member
    Join Date
    September 2017
    Posts
    620
    Thanks
    162
    Thanked 333 Times in 212 Posts

    Default

    Also, after this, nothing is going to stop others from going legit. Ultimately, the money wins. Pay the fine, and go dine.

  7. #5
    Sherlock's Avatar
    Sherlock is offline Public Member
    Join Date
    December 2013
    Location
    WC
    Posts
    4,359
    Thanks
    1,292
    Thanked 3,403 Times in 1,903 Posts

    Default

    bad actor + 46.8 M + dead actor = good actor + stupid affiliates
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

  8. The Following User Says Thank You to Sherlock For This Useful Post:

    -Shay- (2 October 2020)

  9. #6
    econfox is offline Private Member
    Join Date
    October 2017
    Location
    las vegas
    Posts
    264
    Thanks
    11
    Thanked 112 Times in 68 Posts

    Default

    "The non-prosecution agreement allows 5Dimes and Varela to pursue opportunities in the expanding American sports betting market. Varela, who fully cooperated with the investigation, made "significant changes" to 5Dimes's operations that make it "suitable for participating in lawful gaming operations across the world," according to the settlement agreement."


    If they do come to the US and run the affiliate program the same way they did when they were offshore then it might workout. The US affiliate programs by Fanduel, Draftkings and William Hill are a joke compared to what they offered.

  10. #7
    MJM
    MJM is offline Private Member
    Join Date
    November 2010
    Posts
    848
    Thanks
    160
    Thanked 521 Times in 300 Posts

    Default

    Quote Originally Posted by econfox View Post
    "The non-prosecution agreement allows 5Dimes and Varela to pursue opportunities in the expanding American sports betting market. Varela, who fully cooperated with the investigation, made "significant changes" to 5Dimes's operations that make it "suitable for participating in lawful gaming operations across the world," according to the settlement agreement."


    If they do come to the US and run the affiliate program the same way they did when they were offshore then it might workout. The US affiliate programs by Fanduel, Draftkings and William Hill are a joke compared to what they offered.
    Affiliates in the USA need to be licensed, and revenue share licensing is both difficult and expensive to achieve. 5D may be settling with the DOJ - but I can't think of a single state regulator that would possibly deem them licensable.

    The only thing that makes sense here - in my opinion, is they are paying the penalty in order to make them saleable to deeper pockets in the regulated market. Some buyer will get dated tech and a customer db full of AOL email addresses

  11. The Following 3 Users Say Thank You to MJM For This Useful Post:

    AceHigh Pino (1 October 2020), drifter8 (1 October 2020), universal4 (30 September 2020)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •