BVI company involved in violation of US money-laundering statutes by Antigua gambling websites
BVI companies like any other offshore companies are used both in "white" offshore business and in ambiguously "white" business. The information below is about Antigua based gambling business where in complete business structure one BVI IBC is also involved.
Two operators of an Antigua-based Internet gambling site were announced to be indicted on charges of violating US money-laundering statutes.
The Justice Department stated that the indictment of the operators of WorldWide Telesports, Inc. charges two companies and two physical persons connected with laundering of approximately USD 250 million in Internet wagers. One of the charged was a 65-year-old American William Scott, who renounced his US citizenship and had been living in the tiny Caribbean nation of Antigua and Barbuda. Another one was a 35-year-old US citizen Jessica Davis Dyet having authority over various bank accounts of the operation. Both persons engaged in a money laundering conspiracy are fugitives indicted on similar charges in 1998.
US officials froze about USD 7 million in profits held on the island of Guernsey (semi-autonomous British territory in the English Channel known for its offshore banking).
The indictment also mentions a sports-betting operation WWTS and a "shell" company in the British Virgin Islands Soulbury Ltd.
The US government claims any Internet gambling involving US residents to be a crime. It promises to prosecute the people involved in the sites.
As to Antigua, it announced that the US ban on Internet gambling consitutes was unfair trade barrier and won a surprising victory against Washington last year at the World Trade Organization.
Of course, this means that the argument between the USA and Antigua on gambling issues is not finally solved and the current conflict can be just one step in this fight.
Two operators of an Antigua-based Internet gambling site were announced to be indicted on charges of violating US money-laundering statutes.
The Justice Department stated that the indictment of the operators of WorldWide Telesports, Inc. charges two companies and two physical persons connected with laundering of approximately USD 250 million in Internet wagers. One of the charged was a 65-year-old American William Scott, who renounced his US citizenship and had been living in the tiny Caribbean nation of Antigua and Barbuda. Another one was a 35-year-old US citizen Jessica Davis Dyet having authority over various bank accounts of the operation. Both persons engaged in a money laundering conspiracy are fugitives indicted on similar charges in 1998.
US officials froze about USD 7 million in profits held on the island of Guernsey (semi-autonomous British territory in the English Channel known for its offshore banking).
The indictment also mentions a sports-betting operation WWTS and a "shell" company in the British Virgin Islands Soulbury Ltd.
The US government claims any Internet gambling involving US residents to be a crime. It promises to prosecute the people involved in the sites.
As to Antigua, it announced that the US ban on Internet gambling consitutes was unfair trade barrier and won a surprising victory against Washington last year at the World Trade Organization.
Of course, this means that the argument between the USA and Antigua on gambling issues is not finally solved and the current conflict can be just one step in this fight.
posted by Brian Obvi, Offshore Analyst | 4:45 PM
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