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LGA nails online gambling exec

Discussion in 'Casino Industry Discussion' started by jetset, May 18, 2009.

    May 18, 2009
  1. jetset

    jetset Ueber Meister CAG

    Occupation:
    Senior Partner, InfoPowa News Service
    Location:
    Earth
    ONLINE GAMING EXEC ARRESTED IN MALTA

    Misappropriation charges pending

    According to widespread reports in the Malta mainstream media, a Greek national working on the island of Malta as an executive with online sportsbook and casino company Gold Victory Limited was arrested over the weekend on allegations of misappropriation of Euro 500 000 from customer accounts.

    In a bail hearing Dimitros Drosos (42) pleaded not guilty to misappropriating the funds from Gold Victory, a company which is registered in Malta and operates the Gold Victory.com website.

    Police decided to first investigate and then prosecute Drosus after being asked to intervene in the case by the Lotteries and Gaming Authority of Malta - the regulating authority for online gambling.

    Drosos was granted bail by Magistrate Edwina Grima against a deposit of Euro 70 000 and a personal guarantee of Euro 5 000. The court also ordered that all his assets should be frozen.

    One report is that Drosos was not immediately able to meet the bail requirements and was therefore held in custody, but was later moved to a local hospital for medical reasons.

    Drosos is charged both personally and as company director and legal representative of the gaming company and was defended by Dr Stefano Filletti.

    The criminal investigation is being led by Inspector Ivan Cilia of the Malta police.

    Gold Victory.com is a sportsbook and casino using Arland Technologies software licensed in Malta.
     
    3 people like this.
  2. May 18, 2009
  3. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    It's good seeing them take action against illegal activities, especially since they seem to be sloth-like when dealing with player issues.
     
    1 person likes this.
  4. Jun 4, 2009
  5. LetitRoll

    LetitRoll Dormant account

    Occupation:
    Hedge Funds
    Location:
    Boston
    Yep - I agree
     
  6. Jun 5, 2009
  7. vinylweatherman

    vinylweatherman You type well loads CAG MM

    Occupation:
    STILL At Leisure
    Location:
    United Kingdom
    Mixed - a bit like closing the stable door after the horse has bolted.

    Players with the company must be wondering whether the LGA carried out proper due dilligence on this operator in the first place, since it is all well & good he got arrested, but it's too late for those customers who put their faith (and Euros) in an LGA License, and got stung. At best, they will have to wait an unspecified length of time to see money that should never have been in the hands of this kind of operation in the first place.

    I would be worried as a player that there might be other questionable operators sheltering under the perceived credibility of an LGA License.

    If the LGA want PLAYERS to have more faith, they should have a proper dispute resolution service in place, not the current one where a player can hear nothing back for months, and even when they do, progress seems so slow.
     

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