Friday, December 29, 2006

BetonSports Clients Still Don't Have Their Money

Shades of Refco in this collapse. The US gov't has no incentive at all to help - consider it the cost of disobeying a too powerful State:

BetonSports PLC, the London-based Internet gambling company barred from doing business in the U.S., owes money to at least 4,863 customers and cannot repay any of them because of an Antiguan court order, its lawyers say.

Betonsports can't comply with a November directive by U.S. District Judge Carol Jackson in St. Louis that it return the money because the funds are controlled by the company's Antigua subsidiary, which is subject to the authority of courts in that Caribbean nation, attorney Jeffrey Demerath said in papers filed with Jackson Wednesday

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