Serious problems at Purple Lounge

[Dinahnana]

Interesting to see that the joint administrator for Jason Drummond's Gametech UK Limited company, Matthew Wild, was also the joint liquidator for Purple Lounge Limited. Hopefully Gametech customers will have a happier ending than Purple Lounge players did.

Going by what they did in the past I highly doubt it.

 

[jjpmusketeers]

Update, what did the LGA know?

There is an update on the

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site concerning the Malta Gaming Authority (then known as the Lotteries and Gaming Authority of Malta). The update quotes the Media Corporation Finance Director saying that the LGA knew about a deficit in Purple Lounge player funds in 2010 but was okay with it when Media Corporation showed them their own cash balances. I wonder what cash balances the LGA were looking at when they accepted Purple Lounge (Malta) Limited's request to terminate its licenses in 2012?

 

[Jono777]

Following the excellent opportunity above....

I think Purple Lounge have relaunched also, planning to pay all player debts first then launch an "every provider possible" type platform

 

[dunover]

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What the fuck has this got to do with Purple Lounge you spamming moron?

 

[$97 All in.]

Gambling Commission pulls Jason Drummond's license.

Regulatory Censure for Jason Drummond

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Page 3 of 24
Licence Holder Jason Drummond

PML Revoked (had the Licensee not surrendered the licence)

22 August 2017

On 16 May 2017, the Gambling Commission (the Commission) commenced a licence review of the Personal Management Licence (PML) issued to Mr Jason Drummond. On 20 July 2017, the Commission wrote to Mr Drummond to inform him that it was minded to revoke his PML on the grounds that Mr Drummond was no longer suitable to carry on the licensed activities. It was not necessary for the Commission to exercise its regulatory powers as the PML was surrendered. However, the Commission considered that had the PML not been surrendered it would have been revoked.

The facts found included that Mr Drummond had been a PML holder at Gametech (UK) Limited (‘Gametech’) who held a Combined Remote Operating Licence. Gametech had breached licence conditions which included failing to report key events and the segregation of customer funds. At the time of his tenure as a PML Mr Drummond was aware that Gametech did not have adequate resources available for the purpose of carrying on the licensed activities. Mr Drummond allowed Gametech to use customer funds to cover its operating costs. When asked by the Commission about this activity Mr Drummond provided misleading information to us. In addition he also breached a condition of his licence requiring him to carry out responsibilities in relation to licensed activities in a way ‘which does not place the holder of the operating or any relevant premises licence in breach of their licence conditions’

 

[deucebag]

Regulatory Censure for Jason Drummond
Mr Drummond allowed Gametech to use customer funds to cover its operating costs.

Why isn't this investigated as a crime?

 

[dunover]

Why isn't this investigated as a crime?

Possibly because it took place before the UKGC defined their criteria for separation - if not, then it should be as there was clear fraud and mismanagement here.