Telegraph | Business | US clampdown on gaming hits banks
US clampdown on gaming hits banks
US prosecutors investigating illegal online gambling have ordered investment banks including Credit Suisse, Deutsche Bank, HSBC and Dresdner Kleinwort to hand over documents connected with internet gaming clients.
According to one source, subpoenas were issued three weeks ago by the Southern District Court of New York to 16 banks which will force them to hand over e-mails, telephone records and other documents.
Following a series of arrests, PartyGaming and other high profile internet gaming companies withdrew from the US
The requests for information are also thought to have been sent to law firms and accountants. British advisers will be central to inquiries, as London was used as a fundraising centre for a number of online gaming companies.
Firms such as PartyGaming, BetonSports and 888 Holdings chose to list in London, fuelling an investment boom which enriched their founders and generated substantial fees for advisers.
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