BetonSports Executive Richard Creed Joins Leisure & Gaming

Wednesday May 14, 2008

For anyone owed money from BetonSports looking to get paid, look no further than British betting firm, Leisure Gaming Plc, which this week hired one of the BoS executives, Richard Creed.

Creed, 52, was formerly finance director of BetonSports Plc and a partner with Casson Beckman, now part of Baker Tilly. He is a qualified accountant who has extensive gaming industry and corporate finance experience, according to a presser from the company.

But BetonSports owes millions of dollars to customers. Close to a dozen executives from that firm were indicted by the US Government. Nobody seems to no where any of the money has gone. And being that Creed was finance director... well, you can all do the math.

The Online Wire reported last year that its sources allege Richard Edward Creed was the mastermind behind the alleged embezzlement of US $17,000,000 from World Health Network N.V., a corporation of the Netherland Antilles belonging to the WHN for which Creed worked as Director since 1997.

Sources provided evidence according to which Richard Edward Creed signed off on cash amounts he unlawfully received from WHN N.V.

Leisure Gaming Plc's main operations consist of online and retail sports betting service Betshop Sportsbook, the pan-European online sports betting, casino and poker business BetShop, mobile and online football information service GoalsLive.com, and online casino Acropolis Casinos.

The group's focus is on emerging markets, particularly Italy and Central and Eastern Europe. Its operating subsidiaries have offices in the UK, Italy, Cyprus, Greece and Romania.

BetonSports founder, Gary Kaplan, and former CEO, David Carruthers, are currently being held in St. Louis awaiting trial on various charges including money laundering and tax evasion. Some of the charges against Mr. Kaplan have been dropped in recent weeks.