Shillong teer previous result

Yesterday was the latest in a long line of bad news for Morning Teers and other sportsbook platforms.

First, sportsbook firm was hit with a massive $2.3bn fine for its role in a massive online betting fraud scheme.

Next, US sportsbook operator Sportsbet was accused of facilitating illegal bookmakers to use its platform to sell online poker machines.

Then there’s Morningstar, the UK’s largest sportsbook platform.

The company has been under fire for its shady dealings in recent years, and today the company is under further scrutiny after its CEO was arrested in Australia on suspicion of fraud and money laundering. 

On Friday, Morningstar was fined $3.7m by the US Securities and Exchange Commission (SEC) after it failed to report $15m of profits from its bookmaking service to regulators.

The SEC announced that the company had not adequately disclosed that it had made $3m in bookmaking commissions, but the firm is appealing the fine. 

Earlier this week, Morningstars CEO Mark Schafer was arrested and charged with tax evasion and money-laundering.

The investigation came after he was accused by former employees of selling $500,000 worth of his stock and $20m in shares in the firm.

Last week, the company was accused again of money- laundering after the New York attorney general said that it was responsible for helping a company known as Paddy Power get a US passport by running a multi-billion dollar online poker operation that allegedly offered $5 million in cash incentives to US players.

The company said in a statement that it has always done everything it can to help US players and that the US authorities are “not going to be satisfied until they see the truth”. 

Earlier in the day, the US Treasury Department charged PaddyPower with helping Paddy to circumvent the Foreign Corrupt Practices Act (FCPA), which prohibits companies and individuals from making money from the sale of foreign contracts.

The US government said the company “was part of an international operation that was allegedly used to facilitate transactions for the purchase of US government contracts”.

It is not clear if the charges will lead to criminal charges against the firm, but if they do, it will be the largest criminal case in US history. 

In a statement to CNBC, Paddy’s legal team said that the firm had been in discussions with the SEC to resolve the matter and that “the matter will be resolved as soon as possible”.

“We are grateful for the quick action of the US government, and look forward to continuing our work together with them and their team,” the statement read.

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