Update: Pinnacle Sports Busts See 25 Persons Arrested

The US media issued new reports regarding the arrests of 25 Americans across 5 different states on Oct. 24 due to their alleged connections with illegal sports betting, stating that three persons among the arresteds, Brandt England of Las Vegas; George Molsbarger of Santa Monica, California; and Stanley Tomchin of Montecito, California have ownership interests in the offshore online sports book Pinnacle Sports.

Therefore, they were charged with enterprise corruption, money laundering and conspiracy. In addition to these, England will also face charges related to the promotion of gambling.

According to federal prosecutors the arrested persons are all part of World Wide Wagers, an enterprise which took bets on horse races, pro and college football, basketball, hockey and baseball, with global clientele and tens of millions of dollars in US turnover alone. It was stated by the Queens district attorney's office that a single 18-month period saw the gambling operation take in $50 million in profit thanks to computer servers in gambling-friendly countries and complex financial structures that it used to try and hide dealings with U.S. gamblers.

The action involved not only investigators from the New York Police Department which led the case, but multiple state, municipal and federal law enforcement agencies that conducted the arrests in New York, New Jersey, Pennsylvania, Nevada and California, it was further revealed.

However, the prosecutors should be prepared for a fierce fight, as England's legal representative already announced vigorous contesting of the charges, and Pinnacle Sports also denied any involvement.

In its statement, the company assured the public that 'Regarding the recent allegations surrounding the individuals allegedly affiliated with Pinnacle Sports, please be reassured that no Pinnacle Sports employees have been arrested or charged, and Pinnacle Sports itself was not charged in the indictment,' adding that its [offshore] activities remain uninterrupted.

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