Prosecutors to seek extradition in stalled Bodog prosecution in Maryland

[The Buzz]

It's been more than two years since a federal grand jury in Maryland indicted the online sports-betting giant Bodog Entertainment Group and four Canadians, including Bodog founder Calvin Ayre, for illegal gambling and money laundering.

Today, the status of the case was made clear, with the docketing of a letter sent by assistant U.S. Attorney Richard Kay to the judge presiding over the case, U.S. District Judge Catherine Blake: Kay and the defendants "intend to continue to try to find a resolution that will not require extradition of the defendants," Kay wrote, but "in the meantime, I am pursuing extradition."

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[TheGooner]

Interesting because the article states the facts without sermonising - including Bodog's response that the operation is legal under international law.

The "money laundering" charges seem bogus - the article states that even the Feds say Bodog sent the money into the US to pay betting winners and advertisers (gasp!) ... a betting site that pays it's bills ?! What a horrendous crime!

[MichaelCorfman]

The "money laundering" charges seem bogus - the article states that even the Feds say Bodog sent the money into the US to pay betting winners and advertisers (gasp!) ... a betting site that pays it's bills ?! What a horrendous crime!

Money laundering under U.S. law is different than what folks might assume. Certainly it includes the commonly understood tactic of converting the proceeds of criminal activity into ostensibly legitimate money or other assets. But that common understanding of what it means is only part of what is covered under U.S. law.

As I understand it, any situation where money is paid to someone through in intermediary in an attempt to hide who is making a payment to someone in the US is considered money laundering under US law. I think pretty much every overseas business that is not licensed in the US but accepts bets from US citizens tries to hide their involvement in fund transfers through the use of intermediaries that do not properly report the nature of the transactions.

Michael