Convicted Sports Bookie Saddled With $37M Tax Debt

Law360, New York (March 13, 2014, 6:14 PM EDT) -- The U.S. Tax Court said the Internal Revenue Service can collect almost $37 million in back taxes from the former owner of one of the world's largest foreign gambling companies, ruling Thursday that the convicted felon’s plea agreement left the door open for tax collection.

When crafting his plea agreement with prosecutors in 2009, Gary Kaplan, former owner of BetOnSports, agreed to a $43 million forfeiture and a four-year prison term in exchange for the government's dropping all criminal charges, but the agreement said nothing about...
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