Following 2009 plea agreements in an illegal online gambling service case, the Swiss Justice Ministry says that the assets involved in the service are now to be split between the United States and Switzerland. Almost $50 million will be divided between the two countries with BetOnSports executives facing several charges including racketeering.
According to the Ministry, the funds had been placed in Swiss banks and were unfrozen and sent to the United States Treasury as part of the plea deal. The Treasury then sent half of the 50 million Swiss francs, which amounts to around $49 million in US dollars, to the Swiss government for their cooperation in the matter.
In 2006 the Costa Rica based BetOnSports ceased operations. The business offered sports wagering but falsely portrayed themselves as a legal gambling company which reportedly caused their customers to lose money, in the millions.