Investors Consider Suit Against Bet On Sports

Investors of Bet On Sports are considering legal action against the gambling company.

The stock shares fell after the Bet On Sports Chief Executive Officer, David Carruthers, was detained by the US authorities as he was waiting for a transit plane to Costa Rica.

Over 2.3 billion UK Pounds was lost from the value of the companies stocks after the indictment of Carruthers.

Fuming investors are likely to sue Bet On Sports company including its advisers. The investors claim that they should had been informed before they bought their share of stocks that founder, Gary Kaplan, has been indicted on gambling charges in 1993.

Analysts say they have been flooded by frightened investors whose shares in the online company were frozen.

The biggest investor in the company, New Star, said they are not ruling out the possibility of suing Bet On Sports.

According to the statement of New Star, they are following the developments of the case and will give precise details in the next few weeks.

Kaplan was no longer the director, but he is still a paid consultant and still holds fifteen percent equity.

Carruthers along with eleven others, invluding Kaplan, are facing charges of racketeering, fraud and tax evasion.

The US Department of Justice made it clear that all forms of online gambling are illegal in the United States.