This week federal prosecutors in Florida indicted three men on wire fraud, bank fraud, illegal money laundering, conspiracy, and illegal money transmitting charges related to processing payments for an illegal sportsbetting website.
The men indicted in the case are David Stewart of the United States as well as Jason Neiman and Tom Freeborn from Canada. Stewart ran the companies DiamondPayTV and Web Pay TV Inc., which are alleged to be a front for processing payments for the sportsbetting site BetOnline. Freeborn is accused of processing money through the firm eGoldwallet, and Neiman ran a processing firm Doughflow. The trio is suspected of moving more than $4.2 million through their operation in roughly two years.
The indictments occurred in Florida after authorities conducted a sting operation in which an undercover officer posed as a potential investor and gathered information about how the ring operated.
Casino Listings will update this story as more developments arise.