|It has been reported that former BetOnSports chief executive David Carruthers will finally be released from prison later today, following his party’s success in raising the required $1 million dollars to make bail. |
As part of the bail requirements, Mr Carruthers has been ordered to stay in St Louis, Missouri, and will be fitted with an electronic tag to monitor his movements during the course of the trial.
Reports suggest that Carruthers is likely to finance his own legal defence, although BetOnSports has claimed that it will provide the funding for his attorneys. This is despite the company’s decision to withhold the payment of deposits to its customers, with many claiming to be owed five figure sums. US Attorney Catherine Hanaway has ordered all customer deposits be paid immediately, implying that further actions may be taken against the company.
Last Friday the firm announced it was closing down its US business, which resulted in the loss of around 800 jobs as well as raising doubts over the long-term viability of the company.