Online Gambling Money Processors Indicted In Florida

Published Tuesday, December 08, 2015 - Online-Casinos.com
Online Gambling Money Processors Indicted In Florida

Based in Panama City Panama the BetOnline online gambling firm has been connected to the indictment of three individuals in Florida for illegal processing of financial transactions. The US Attorney for the Middle District of Florida, Orlando Division alleges that David Stewart, Jason Neiman and Tom Freeborn broke a few laws such as wire and bank fraud, illegal money transmitting, money laundering and conspiracy in dealing with online gambling sites based offshore.

The authorities planted an undercover law enforcement officer as an investor in the scheme. The three individuals created an account with the undercover client on behalf of the accused with credit card processor Elavon, a subsidiary of U.S. Bancorp. This action sealed the proof for indictment in the case. BetOnline is the sole site specifically identified in the indictment. BetOnline.com operates out of Panama City, Panama, has been referred to as "the banking capital of Latin America". BetOnline has been in operation since around September of 2004 and is a privately held online gambling company offering sports betting, casino games, and punting on the horses.

The three men indicted didn’t realize how well the authorities in the USA keep track of suspicious gambling activities online and how they do not tolerate this kind of activity. David Stewart is an American living in Florida, who is alleged to have formed shell corporations that were used to open accounts at US-based banks. Tom Freeborn is a Canadian living in Canada, who allegedly engineered online gambling payments through one of Stewart’s firms, eGoldwallet. Jason Neiman another Canadian living in Costa Rica is alleged to have created the firm DoughFlow, which processed payments on behalf of online gambling sites. DoughFlow is a privately held company based in San José, Costa Rica and it appears to still be in business. DoughFlow says on its web site that their extensive fraud controls, data scrubbing and transaction tuning are second to none.

 

 

 

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