• Betex Execs Resign Over Possible Chinese Prosecution

    27 May 2007

    Following the arrest in April of three of Betex employees by China for allegedly being involved in illegal gambling, Peter Greenhill and Stuart Barker, the chief executive and finance director at Betex, resigned after failing to receive assurances from the Chinese authorities that they would not be arrested if they entered the country. Non-executive director Philip Goodmaker has also resigned according to eGaming Review.

    In April the specialist Chinese lottery company announced that three of its employees in China had been arrested over allegations of involvement in illegal gambling. No charges against the employees have yet been brought by the Chinese authorities.

    “…Greenhill said the company had heard rumours that his and Barker’s names had come up in the Chinese investigations and that it had been impossible to ascertain whether or not the pair could be in danger of being arrested should they enter the country. “It was too much to ask, perhaps, for proper assurances,” he said. “It is better for the company is someone else takes over.”

    “Betex has appointed chief operating officer Jeremy Longley as the new chief executive. He will be supported by present executive chairman Johnny Hon and company secretary Simon Spector. Meanwhile, Alexander von Franckenstein has been appointed as a non-executive director to replace Goodmaker. Greenhill added that the employees who have been detained are yet to be released.”

    In a statement accompanying the announcement, Johnny Hon added “(Greenhill and Barker) feel that they are unable to perform their roles as they would like to, and to the best effect for the company. The board would like to take this opportunity of thanking (them) for their efforts.”