Update: Former Worldspreads Head Pursues Other Plans

Foley holds an 80 percent stake in a new business The latest reports regarding the founder and former chief exec of disgraced financial spreadbetting company Worldspreads (see previous InfoPowa reports) Conor Foley, who remains silent on the company issues, involve news that he has turned to another gambling venture. Namely, it appears that Foley is the biggest shareholder (with some 80 percent) in a new high-end, Dublin-based bookmaking business branded Sports Circle, which focuses on high-rolling sports punters. He resigned his position at Worldspreads shortly before it went into administration with a GBP 13 million shortfall in its funds, claiming that his departure is not connected with the company's financial problems and irregularities, and that those were only discovered after he resigned. What's interesting is that Worldspreads former business development manager, Conall McSorley, holds the other 20 percent in the newly formed company. It is stated on the Sports Circle website that it was founded by McSorley and backed by substantial business figures from Dublin and London.