Capital Conservator » Gaming

MALTA RANKS HIGHLY IN GLOBAL “SECRECY INDEX”

Thu, 12 Nov 2009 13:28:09 +0000

A global secrecy index compiled by the TJN (Tax Justice Network) has placed Malta as 22nd most secretive jurisdiction in the world. Malta achieved an opacity score of 83 out of 100 for opacity and was judged “a long way from offering financial transparency”. Despite not appearing on many blacklists, Malta still maintains a high degree of secrecy within its banking transactions.

http://www.maltatoday.com.mt/2009/11/08/t8.html

MAXIMUM SENTENCE FOR BETONSPORTS FOUNDER GARY KAPLAN

Wed, 04 Nov 2009 12:34:56 +0000

Gary Kaplan, the founder of the offshore gambling firm BetOnSports, has been given the maximum prison sentence of 51 months for “conspiring” to break racketeering laws in the US, among other violations. Kaplan has been in jail since March 2007, and has already agreed to hand over around $44 million to US Authorities which the Justic Deparment calls “proceeds” from his gambling activities.

http://www.reuters.com/article/internetNews/idUSTRE5A24IS20091103

MALTESE MINISTER PROMISES COUNTRY WILL NOT BECOME ”ONE BIG CASINO”

Thu, 08 Oct 2009 12:20:36 +0000

As reportes by Times of Malta: Finance Minister Tonio Fenech said yesterday the government did not want Malta t become ”one big casino”. It would be reconsidering gaming legistlation to prevent “being caught in a grey area” during court proceedings and would seek to enfore laws with greater strength. Speaking during the first parliamentary sitting after the summer recess, Mr Fenech outlined various actions under the Lotteries and Other Games (Amendment) Bill. Licences would be issued for periods of 12 months, renewable only if there were no pending court proceedings against the owner at the time of renewal.

http://www.casinocitytimes.com/news/article/minister-promises-malta-would-not-become-one-big-casino-179851