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The US Justice Department out of Oklahoma City filed a 96-page indictment against one of Central America’s oldest US-facing bookmaking operations. Legends Sports and 34 individuals connected to the lucrative wagering business were charged with running an illegal sports betting ring, a story first broke by Gambling911.com.
Charges were brought against individuals in various states working as operatives, including agents, for Legends Sports (www.betlegends.eu). The indictment itself is one of the most detailed of any handed down against a bookmaking business thus far, even going as far as to specifically illustrate how, on a particular date, a trash bag full of money wrappers were tossed disposed of from proceeds believed to have been used for “illegal gambling”.
The US Government is looking to seize approximately $1 billion they claim Legends Sports has earned over the past decade. There is, however, a big difference between “looking to seize” and “seizing”.
Late Wednesday evening Legends Management advised SBRForum.com that there is no reason for users to be concerned about their funds and, as SBR noted, history shows in most cases user balances and day to day operations are unaffected.
Gambling911.com, like SBR, has known the folks behind Legends Sports for nearly 15 years with the owner among the most respected in the industry. Legends runs a state-of-the-art three story gambling facility in beautiful Panama City, Panama.
It is doubtful any of this came as a huge shock as Spiros Athanas (AKA “The Greek”), named in the indictment as a “business partner” in Legends Sports, had stopped accepting US customers at his own book TheGreek.com nearly two years ago.
Likewise, offshore bookmaking businesses with exposure to credit betting in the US have come under increasing fire from local law enforcement agencies leading to a Monopoly effect in which a growing number of agents are becoming cooperative witnesses.
One of the biggest offshore gambling businesses, Pinnacle Sports, was named in a US indictment late last year while Canadian authorities aggressively cracked down on the credit betting business, Platinum SB.
Prosecutors said they are seeking forfeiture of at least $1 billion in the form of real estate, bank accounts, brokerage and investment accounts, certificates of deposit, a Sabreliner aircraft, a gas lease, an individual retirement account, domain names and vehicles. It is widely believed that the majority of Legends Sports assets are located outside the United States.
Legends employs over 100 individuals in Panama City.
- Chris Costigan, Gambling911.com Publisher
