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Sportingbet Predecessor in Contempt of Court: Must Pay Millions
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A federal judge ruled this week that Andris N. Pukke, former head of bankrupt Germantown credit counseling agency AmeriDebt, is in contempt of court and ordered him to turn over about $40 million worth of disputed assets, including interests in an Internet gambling venture, a Belize development project and a California mansion.
Pukke testified in a Greenbelt federal court last month that he was not hiding assets, as charged by a court-appointed receiver. It was the first time Pukke has testified in court in the case alleging he defrauded thousands of clients, which was initially filed by the Federal Trade Commission in 2003.
Last year, the parties agreed to set up a restitution fund of up to $35 million, but so far only about $10 million has been turned over, according to court documents.
In an email dated April 27, 2005, Mr. Pukke requested Colin Medhurst to email Hansabanka wiring instructions for Dolphin. Mr. Pukke had not provided any information to the Receiver about this account at Hansabanka
On May 22, 2006 the Receiver conducted a deposition of John Pukke, Mr. Pukke’s father. John Pukke produced bank account statements at Hansabanka. John Pukke asserted that he owned these bank accounts. Among other items reflected on the bank statements are receipts from Sportingbet.
The Receiver’s Third Report discussed Andris Pukke’s ties to internet gambling interests. John Pukke testified he made a $45,000 investment in 1998 in Internet Opportunity, a company purportedly formed by his godson. Internet Opportunites was a predecessor company to Sportingbet Plc. John Pukke also testified this investment was to provide start up capital and he acquired 1.75% of the company. He was not able to produce any document evidencing this investment.
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Christopher Costigan, Gambling911.com
Originally published March 15, 2007 10:42 pm ET
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A federal judge ruled this week that Andris N. Pukke, former head of bankrupt Germantown credit counseling agency AmeriDebt, is in contempt of court and ordered him to turn over about $40 million worth of disputed assets, including interests in an Internet gambling venture, a Belize development project and a California mansion.
Pukke testified in a Greenbelt federal court last month that he was not hiding assets, as charged by a court-appointed receiver. It was the first time Pukke has testified in court in the case alleging he defrauded thousands of clients, which was initially filed by the Federal Trade Commission in 2003.
Last year, the parties agreed to set up a restitution fund of up to $35 million, but so far only about $10 million has been turned over, according to court documents.
In an email dated April 27, 2005, Mr. Pukke requested Colin Medhurst to email Hansabanka wiring instructions for Dolphin. Mr. Pukke had not provided any information to the Receiver about this account at Hansabanka
On May 22, 2006 the Receiver conducted a deposition of John Pukke, Mr. Pukke’s father. John Pukke produced bank account statements at Hansabanka. John Pukke asserted that he owned these bank accounts. Among other items reflected on the bank statements are receipts from Sportingbet.
The Receiver’s Third Report discussed Andris Pukke’s ties to internet gambling interests. John Pukke testified he made a $45,000 investment in 1998 in Internet Opportunity, a company purportedly formed by his godson. Internet Opportunites was a predecessor company to Sportingbet Plc. John Pukke also testified this investment was to provide start up capital and he acquired 1.75% of the company. He was not able to produce any document evidencing this investment.
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Christopher Costigan, Gambling911.com
Originally published March 15, 2007 10:42 pm ET