CHINESE COMPLICATIONS FOR BETEX
4 May 2007
Frozen bank accounts and arrested company
employees in a confusing situation
It's been almost two weeks since the Betex group
announced that three of its employees were arrested by
Chinese authorities, and this week the company issued a
further statement that if anything adds more confusion
on what is legal and what is illegal in the Asian
country.
Legal information reaching Betex, it appears, indicates
that the detained employees face allegations of
“involvement in the crimes of ‘gambling’ and ‘illegal
operations’”. A senior staff member was detained in his
capacity as the legal representative of Betex’s Chinese
software consultancy operating company Beijing Lottery
Technology Company (BLTD).
A more junior BLTD employee was detained, too along with
an agent contracted to BLTD.
Police authorities have apparently frozen two BLTD bank
accounts connected with the operation of the software
product but there have been no restrictions placed on
the company’s other accounts.
Betex added: “The lawyers’ opinion issued to the company
is that neither the staff member acting in the capacity
of the legal representative of BLTD, nor BLTD itself,
will be convicted of the crime of gambling. The lawyers
have confirmed that under the Chinese Criminal
Litigation Law there is no claim against the company
arising from the investigation into BLTD.”
If you can understand all of that, you're doing better
than we are!
Footnote: As we went to press this week news was coming
in that Betex has again postponed the publication of its
preliminary results for 2006, citing continuing
uncertainty.
Online Casino News courtesy of InfoPowa
More news here.
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