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David Carruther, CEO of BetOnSports Fired

The Board of Directors of BetOnSports has announced that it has fired David Carruthers as CEO of the embattled company. The company said that the action was taken as a consequence of Carruthers continued detention by US authorities.

"Clearly, while he remains in the custody of the US Government he is unable to perform his duties. Further the company has been unable to speak directly with Mr. Carruther," the company said.

A warrant also has been issued for the arrest of BetOnSports founder Gary Stephen Kaplan, 47, who is charged with 20 offences including tax evasion and conspiracy.

The company said today that since the time of its public listing, the Board believes it has operated in accordance with the standard expected of a UK Plc which is publicly quoted on AIM on the London Stock Exchange. The Board said it wishes to make absolutely clear that none of the founders of the original business has any continuing role within the Company.

As disclosed in the AIM document, the original founder has a consulting agreement with the Company under which his role is non-management related which was an absolute requirement of the Board for the float and thereafter.

On Tuesday, the company sought to distance itself from Kaplan, saying that he has no managerial role with the firm and worked only as a consultant. The US government claims BetOnSports fraudulently took bets from US residents by phone and internet and failed to pay excise taxes.