{"id":150751,"date":"2020-09-30T23:58:06","date_gmt":"2020-10-01T06:58:06","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=150751"},"modified":"2021-02-11T03:23:21","modified_gmt":"2021-02-11T11:23:21","slug":"5dimes-forfeits-46m-to-the-feds-as-sportsbook-seeks-legal-path-to-us","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/5dimes-forfeits-46m-to-the-feds-as-sportsbook-seeks-legal-path-to-us\/","title":{"rendered":"5Dimes Settles with Feds, Forfeits $46 Million as Offshore Sportsbook Seeks Path to US Legitimacy"},"content":{"rendered":"

The US Department of Justice announced Wednesday it reached an agreement with 5Dimes, the offshore sportsbook. The company agreed to forfeit more than $46 million to settle a federal criminal investigation that began in 2016.<\/p>\n

\"5Dimes
William McSwain, the US Attorney for Pennsylvania’s Eastern District, claimed victory in reaching an agreement with offshore sportsbook 5Dimes. (Image: WHYY.Org)<\/figcaption><\/figure>\n

Shortly after the feds release was issued, 5Dimes produced one of its own announcing what had been anticipated for most of this month. The Costa Rican book made the deal in an attempt to position itself to legally enter the US market. It already has filed incorporation papers in Delaware.<\/p>\n

Along with a team of trusted advisors, I am exploring how we might relaunch 5Dimes as a legal sportsbook and casino in the legal, regulated US market to continue serving our many loyal customers,” said Laura Varela, widow of 5Dimes founder<\/a> William Sean \u201cTony\u201d Creighton.<\/p><\/blockquote>\n

Creighton established 5Dimes in 1999 in the Latin American country. Over the years, he got scores of US bettors to create accounts with the illegal offshore book. Federal authorities said 5Dimes use of third-party payment processors allowed US bettors to make deposits and hide the true nature of the transaction. They also claim he laundered money through the purchase of gold bullion, coins, and rare and expensive sports cards.<\/p>\n

Creighton led 5Dimes until kidnappers abducted him two years ago. His body was found a year later. Varela eventually took responsibility for 5Dimes, but did not have a managerial role with the sportsbook.<\/p>\n

Widow Initiated 5Dimes Settlement Talks<\/h2>\n

Both parties said Varela took it upon herself to resolve the matter with the feds, contacting the US Attorney\u2019s Office in Pennsylvania\u2019s Eastern District, which initiated the investigation in 2016.<\/p>\n

\n

In all, 5Dimes and Varela agreed to surrender goods and money totaling more than $46.8 million for violations of wire fraud, money laundering, and transmission of gambling information. In return, the feds agreed to neither pursue criminal penalties or seek a civil suit for any crimes committed before Wednesday.<\/p>\n<\/div>\n

The lone exception to that is possible corporate tax violations, which are out of the US Attorney\u2019s office\u2019s purview.<\/p>\n

In a statement, US Attorney William McSwain said the settlement is a victory for the country, as it stops a company that was conducting several crimes, including a “sophisticated money laundering” scheme.<\/p>\n

McSwain’s office was assisted by the Department of Homeland Security, Homeland Security Investigations (HSI), the Philadelphia Police Department, and the Pennsylvania State Police.<\/p>\n

\u201cThrough our 5Dimes investigation, Homeland Security Investigations illuminated a massive global network of criminals whose profession was to launder proceeds for drug cartels, kleptocratic regimes, illegal mining operations, and fraudsters,\u201d said Brian A. Michael, HSI\u2019s special agent in charge for its Philadelphia office.<\/p>\n

How Bettors Can Get Their Money<\/h2>\n

On Sept. 21, 5Dimes suspended US accounts<\/a> from being able to wager on the site. On the 5Dimes website, the sportsbook said that decision was a \u201cdirect result\u201d of the agreement between it and the US Attorney\u2019s Office.<\/p>\n

\u201cWe recognize that the timing was less than ideal, but it was out of our control,\u201d<\/strong> the sportsbook\u2019s statement read.<\/p>\n

In addition, Sunday was the last day for US customers to request payouts. The sportsbook is processing those requests and said in the Wednesday post that customers should have their payments \u201cwithin the next seven days.\u201d<\/p>\n

US bettors who did not submit their withdrawal request in time now have had their funds transferred to a third-party claims administrator. Starting Thursday, 5Dimes customers can go to PlayerRefund.com and learn more.<\/p>\n

\u201cWe look forward to relaunching 5Dimes as a sportsbook and casino in the legal, regulated US market and bringing the same great experience to all our customers,\u201d 5Dimes statement read.<\/p>\n","protected":false},"excerpt":{"rendered":"

The US Department of Justice announced Wednesday it reached an agreement with 5Dimes, the offshore sportsbook. The company agreed to forfeit more than $46 million to settle a federal criminal investigation that began in 2016. Shortly after the feds release was issued, 5Dimes produced one of its own announcing what had been anticipated for most […]<\/p>\n","protected":false},"author":45,"featured_media":150752,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60,1074],"tags":[],"acf":[],"yoast_head":"\n5Dimes Settles with Feds, Forfeits $46 Million as Offshore Sportsbook Seeks Path to US Legitimacy - Casino.org<\/title>\n<meta name=\"description\" content=\"The US Department of Justice announced Wednesday it reached an agreement with 5Dimes, the offshore sportsbook. 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