Citadel Commerce Reaches Settlement Agreement with US PDF Print E-mail
Sunday, 08 June 2008

Citadel Commerce, as part of Entertainment Systems (ESI), announced yesterday that it had reached a settlement agreement with US authorities after the government began a clampdown on all companies associated with the online gambling industry. Citadel announced that the $9 million seized by the US Department of Justice last year would settle the case against the company, as long as Citadel agreed to fully cooperate with the authorities in ongoing investigations.

 

“This agreement resolves the USAO’s investigation relating to the Company’s former US Internet gaming payment processing activities. We believe that this settlement is in the best interests of ESI and its shareholders,” said Tony Greening, CEO of ESI. “Our customers, employees and shareholders have all patiently waited for this resolution and we are pleased we can now begin to refocus our efforts on building and strengthening the ESI business.”

 

 
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