In the midst of American vacillation over the online gambling industry, U.S. authorities have reported taking down an offshore online gambling ring that was valued at approximately $2.5 billion.  Two indictments have been made as of yet, charging William Scott and Jessica Davis for money laundering that was in direct violation of the infamous Wire and Travel Act.  With so much hype in the media regarding the Wire Act, as well as relative inaction by the U.S. government in response to a recent dispute with the government of Antigua and Barbuda, the news of the bust came as a surprise to some.

The twelve-count indictment against Scott and Davis states the two participated in a money laundering scheme that encouraged American bettors to send funds over the internet (to Antigua) for wagering on sporting events and possibly online casino games.  Scott was specifically charges with failing to report an international bank account to the Internal Revenue Service.  In actuality, Scott "buried" his company's profits through a shell company called Soulbury Limited (pun intended).

WorldWide Telesports Inc. was the company that online bettors would go through - which they most certainly did, betting $2.5 billion since 1998.  However, it was a smaller sum ($7 million worth) that U.S. investigators used to track down Scott.  With the assistance of the government of Guernsey (which is an independent state located directly off of the the coast of France), authorities were able to track down $7 million in online gambling proceeds that was in Scott's account.  And while all was good with foreign officials, the U.S. felt this case was of enough profile to tackle.

Considering that WorldWide Telesports brought in as much revenue as they did, the company's online gaming host government is now is also seeking compensation in the amount of $250 million, which would cover fees surmounted by the defendants.  And depending how all goes in the court case, they may very well receive what they feel they are entitled to.