Online Gambling Guru
Agrees to Forfeit $300 Million
 December
17 - Anurag Dikshit, a co-founder of PartyGaming, one of
the world's most successful online gambling companies, has
agreed to forfeit $300-million as part of a deal struck recently
in the U.S. District Court in Manhattan to help keep him out of
prison.
The 37-year-old Dikshit - who is based in the online
gambling-friendly jurisdiction of Gibraltar - pleaded guilty in
court to charges that he violated the U.S. federal wire act,
which says that it is illegal to transmit interstate and foreign
wagering information over the Internet.
The massive $300-million fine or restitution that the
Indian-born online gambling pioneer has agreed to pay, should
keep him out of prison for the maximum two year sentence that
the charge carries. Dikshit signed a cooperation agreement with
state prosecutors, that should result in leniency when
sentencing.
In a news release, U.S. prosecutors accused Dikshit of
developing a proprietary online gambling software platform and
running PartyGaming's technical operations from 1998 to October
2006, while he was still a principal shareholder of the online
gambling giant.
Dikshit's bail was set at $15 million, but Dikshit was not
required to post any cash or property. This prompted the Judge
Jed Rakoff to inquire as to what incentive Dikshit had in
staying in the United States and attending future court dates.
His legal team responded by pointing out that Dikshit had shown
his desire to cooperate with U.S. authorities by already paying
$100-million to the U.S. Treasury and pledging to pay an
additional $100-million within three months and the final
installment of $100 million by September 30th next year.
While $300-million sounds like a lot of money, Dikshit is
estimated to be worth up to $1.6 billion, making him the 618th
wealthiest person in the world. PartyGaming owns and operates
PartyPoker, the world's
largest and most popular online poker room.
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