|The Canadian authorities have finally reached a settlement with Starnet Communications International, a subsidiary of World Gaming. The settlement came after Starnet pleaded guilty to a single charge of a violation of Section 202 (1) b of the Canadian criminal code.|
This action by Starnet brought the investigation of the business operations, for the period ending in August 1999, of the company by the RCMP to a close.
Starnet were ordered to pay a $100,000 CDN fine and a further $15,000 CDN victim surcharge. The company has also consented to a forfeiture of $3,925,000 US.
Authorities retain approximately $7.6 million US of the company’s funds under restraint, after Fridays decision approximately $3.6 million US of this will be returned.
Michael Aymong, CEO of World Gaming said of the decision, “This conclusion allows us to shed the past and move forward towards the kind of exceptional growth and success this company is capable of achieving.” He went on to explain the company’s strategy for the future. “World Gaming is operating under an entirely new management team, business direction and operational structure. As we go forward, we do so with a strong commitment to compliance and a constructive relationship with governments here in Canada.”