More Problems for BetOnSports and Associates

15 August 2006

It’s been reported that shareholders of BOS are considering legal action against BOS advisors based on the fact that they (advisors) did not mention any unfavorable background on Gary Kaplan, previous owner of the company prior to the the stock offering. It’s rumored that Kaplan has left Costa Rica for parts unknown but the middle east is suspected. He was included in the indictment against BOS for, among other charges, fraud and racketeering. Apparently, the advisors, Evolution Securities and Baker Tilly, felt there was no obligation to report any Kaplan history of previous gambling offenses since he was no longer associated with the company. However, some shareholders believe this information was critical in making sound investment decisions and should have been made available.

Mention should be made here that David Carruthers, the former CEO of Betonsports, who was arrested and held on a $1 million bond over a week ago is now counting his release in hours. It’s been reported that friends and family have raised the necessary money and arranged for housing and other stipulations as required for release on bond.

Meanwhile, BOS was busy firing David Carruthers and 800 other employees of BOS and announced they were out of the US market. They look to Asia to bolster their coffers but Asia is comparably a much smaller market and observers don’t believe this will be the cure, or even an effective bandage for the ailing company.

Related News

  • 23 June 2009

    Betonsport's Founder to face Trial

    It’s been awhile, but you should remember this situation very well, especially if you live in America. Gary Kaplan, the founder of the online sportsbook Betonsports,  and 10 other defendants were indicted 3 years ago in St. Louis for accepting sports wagers over the Internet and via phone, which was in direct violation of the age-old USA wire act which prohibits such activities.

    Read full article
  • 17 July 2006


    David Carruthers was detained in Miami yesterday and held in an undisclosed location awaiting court today, Monday, July 17th. It has been reported that Carruthers’ detention is no likely to be related to the online gambling ban approved by the House last week, but is related to the federal investigation of the former owner of BETONSPORTS, Gary Kaplan. Federal investigators believe Carruthers has information that could lead to an indictment of Kaplan.

    Read full article
  • 17 July 2006


    David Carruthers was charged with conspiracy in offering bets on college and professional sports to U.S. residents and that BetonSports took wagers via internet and lelephone line. He’s being held without bail at this time. Federal prosecutors requested that no bail be set until David is sent to Missouri to face charges. The judge allowed David be held without bail at least until Friday, when the detention hearing is scheduled.

    Read full article