SportsAlive.com go bust

Written by BrainBetting Team Thursday, 01 December 2011 08:27

Gambling News - Sports Betting News

According to reports in the Sydney Morning Herald, the police have been asked to look into the affairs of the now insolvent & defunct Sports Alive online bookkeeping firm, which operated out of Melbourne.

Sports Alive was licensed by the ACT Gambling & Racing Commission, & the regulator requested the assistance of the police when it appeared that the company had operated for two years before its ultimate collapse, despite being technically insolvent.

ACT Gambling & Racing Commission chief executive Greg Jones told the Sydney Morning Herald: "They [the police] are considering the information we have given them to see if it is worthy, or if there is significant evidence for a criminal investigation".

Sports Alive, which has been in the hands of the liquidators since late August, stands accused of not segregating player funds from operating capital.

Players are among the creditors that are owed a total of A$ 13million, with many unlikely to see satisfaction, the newspaper reports.

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