As reported by The Times, the stockbroker that advised BetonSports on its floatation on the Alternative Investment Market in 2004 was closely questioned by AIM regulators about the online betting company’s suitability as a public company.
The share offer prospectus did not mention that Boulder Overseas Corporation, a Panamanian company that controlled 44 per cent of BetonSports, was owned by Gary Kaplan, a convicted fugitive.
The Times also reported that at least one other stockbroker declined to become involved with BetonSports’s IPO, because of concerns over Kaplan’s background and the fears that, even after the floatation, he might exert undue influence on the way the company was run.
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