October 1, 2020 Sports Betting, Legal

5Dimes settles case with DOJ, seeks US regulation

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Offshore sports betting company 5Dimes has settled a criminal investigation with the Department of Justice, opening the door for US regulation.

5Dimes will forfeit $47m in gamblign proceeds to the US Attorney’s Office of the Eastern District of Pennsylvania. In exchange the company expects to be cleared to apply for legalization in legalized US markets. 

5Dimes owner and operator William Creighton ran the company in Costa Rica until kidnapping and murder in 2018. His widow, Valera Creighton, assumed responsibility of the company upon her husband’s death. 

Valera Creighton worked with US prosecutors to settle a federal criminal investigation including charges of illegal gambling, money laundering and wire fraud. Prosecutors did not find any evidence that she participated in any crimes. 

Creighton said, “It has been a very difficult two years for me and my family. But today marks a pivotal turning point and a fresh start for me and the 5Dimes brand, as well as a milestone for the legalization of sports gaming in the U.S. My husband’s death was tragic, but he loved 5Dimes and all of its loyal customers. Now his spirit will be able to live on as the 5Dimes brand begins this new chapter.”

The agreement with prosecutors required 5Dimes to stop servicing US customers by 30 September, and the company encouraged users to transfer their balances by 25 September. 

5Dimes is seeking licensing in New Jersey according to The Wall Street Journal.

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