Ex-GVC executives face charges of bribery and defrauding financial institutions

806     0
Ex-GVC executives face charges of bribery and defrauding financial institutions
Ex-GVC executives face charges of bribery and defrauding financial institutions

British betting company Entain’s ENT.L former CEO and other senior directors appeared in a London court on Monday charged with bribery and fraud connected to gambling in Turkey.

Kenny Alexander, chief executive of the company formerly called GVC until his departure in 2020, is charged with conspiracy to bribe and conspiracy to defraud between 2011 and 2018.

Alexander, 56, led the company from 2007 and turned it from an upstart gambling firm into a FTSE 100 business, orchestrating the 4 billion-pound ($5.37 billion) acquisition of Ladbrokes Coral announced in 2017.

GVC’s former non-executive chairman Lee Feldman, 57, and ex-CFO Richard Cooper, 64, are also charged with conspiracy to bribe and conspiracy to defraud.

The conspiracy to defraud charge alleges Alexander, Feldman, Cooper, and others conspired to defraud financial institutions or those performing financial monitoring or compliance functions by concealing the source of money made from gambling in Turkey.

None of the defendants were asked to enter a plea to any of the charges and were granted bail until their next court appearance at Southwark Crown Court on November 3.

A lawyer for Alexander was not immediately available for comment, but he previously told the Financial Times that the case would be “vigorously defended”.

Entain said in a statement when the charges were announced in August that neither Entain nor any current employees had been charged.

Editorial Team

David Wilson

Politics Editor

Richard Cooper, FTSE 100, Lee Feldman, Entain’s ENT.L, Kenny Alexander, Turkey, Fraud, Gambling, Southwark Crown Court, London Court

Read more similar news:

05.02.2023, 07:00 • Finance
Think twice before ordering drinks on tab - it could put your money at risk
05.02.2023, 07:00 • Finance
O2 issues warning over phone call and text that could drain your bank account
06.02.2023, 10:08 • Finance
Woman loses £14,500 after falling for man on Facebook group in romance con
08.02.2023, 12:15 • Investigation
'I was scammed by Tinder Swindler - never share your password with your partner'
09.02.2023, 08:00 • Crime
Conman Clint Canning, master of multiple fake identities, is back behind bars
16.02.2023, 06:31 • World
Fake doctor duped NHS £1.3m using forged qualifications to pursue 22-year career
18.02.2023, 07:30 • Crime
Cunning fake priest 'swindles millions from churches to buy premium llamas'
23.02.2023, 16:34 • Crime
Hapless burglar accepted brews from victims then left his DNA at crime scene
27.02.2023, 14:09 • Crime
'Despicable' case as woman in Scotland tricks mum out of nearly £50,000
28.02.2023, 16:13 • Crime
Fake psychiatrist who worked for 20 years under fake documents is jailed