BusinessCompany NewsCFO chases £100,000 from betting company

CFO chases £100,000 from betting company

Investors considering legal action

Richard Ainsworth-Morris, former chief financial officer at Costa Rica-based
Betonsports, is still seeking £100,000 in unpaid fees and share options from the
internet gambling company, nearly five years after leaving the company.

Ainsworth-Morris was chief financial officer at the company for six months in
2001 and was assigned the task of preparing the firm for flotation in the UK.

He claims he was given options, which were never materialised.

His allegations emerge as Betonsports’ British chief executive David
Carruthers was arrested last week with company currently being investigated by
the FBI.

The news sent online gambling firms’ share prices tumbling.

According to reports, investors are considering taking legal action against
the company.

A spokesman for Evolution Securities, the adviser for Betonsport’s in London,
claimed the company had satisfied all questions posed by the London Stock
Exchange and the Alternative Investment Market, The Observer reported.

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