Federal Prosecutors to End Criminal Investigations on Gambling Site ‘5Dimes’

5Dimes is a Costa Rica-based online gambling site that took bets from the US clients illegally. Prosecutors had been investigating the business for two years, but now they have come to a nonprosecution peaceful agreement. 

The US Justice Department has allowed the company to enter the legal sports betting market of the country. Prosecutors in the Eastern Pennsylvanian District and 5Dimes announced the deal on Wednesday. Owner, Laura Varela, is now clear of the wrongdoing charges and the organization’s troubles are resolved now. The company has been operating offshore for more than two decades and accepting bets from US clients. 

The Justice Department was investigating for the company’s illegal betting, wire fraud, money laundering, and other crimes. It is for the first time that the US Supreme Court has agreed to end investigations and allow the accused to legally operate in the country. 

Offshore sportsbook 5Dimes has reached a settlement with federal prosecutors to end a criminal probe. It’s forfeiting $46M, winding down US operations and looking to potentially reopen as a legal US operator in the near future. w/@katherinesayre https://t.co/tLwmFE6ZSo

— Byron Tau (@ByronTau) September 30, 2020

5Dimes will pay more than $46 million as penalty in assets that include cryptocurrency, cash, sports cars, and sports memorabilia. The federal prosecutor, William McSwain, said that it is a victory for the US efforts to cease crimes like money laundering. 

After the death of the former owner, William Sean Creighton, Ms. Varela became the owner and immediately contacted the US Justice Department to end the investigations.

Read about the UK gambling commission and the impact at New Rules by the UK Gambling Commission and Their Impact