to 51 months in prison. It was the maximum sentence allowed for under a complicated plea agreement that his lawyer struck with federal prosecutors.
The millionaire founder of the now-defunct offshore gambling operation known as BETonSPORTS
has been in federal custody since his arrest in March 2007 and may receive credit on his sentence for time already served.
Kaplan and his cohorts were the subjects of a 2007 RFT
feature story, "Double Down."
His co-conspirators, including two siblings, will be sentenced
later this month and in January.
Here's the U.S. Attorney's Office take on the illegal offshore gambling operation:
"BetOnSports was highly successful and attracted a large number of U.S. customers. By 2004, the BETONSPORTS organization's principal base of operations in Costa Rica employed approximately 1,700 people. During the year ended January 31, 2004, BetOnSports had close to 1 million registered customers, accepted over 10 million sports bets in a cumulative gross amount that exceeded one billion dollars. In mid-2004, Kaplan made a successful public offering of the stock of BetOnSports on the London Alternative Investment Market that netted him over $100,000,000. Those funds eventually found their way into various Isle of Jersey trusts which invested the funds in Swiss bank accounts."
Kaplan has forfeited more than $50 million to the Department of Justice.
U.S. District Judge Carol Jackson has sentenced