A Bahamian offshore bank was allegedly used by an illegal sports betting operation to launder a substantial percentage of some $10.662 million in proceeds that it hid from the US authorities, The Tribune can reveal.
Court documents lodged in the US District Court for the western district of Wisconsin on October 22, copies of which have been seen by The Tribune, revealed that a Florida based attorney, David Hampton Tedder, allegedly established two bank accounts at Surety Bank & Trust in the name of shell corporations for Gold Medal Sports, an offshore sports book incorporated in Curacao.
The indictment alleges that Mr. Tedder assisted Gold Medal Sports operations by establishing shell corporations and offshors bank accounts for its subsidiaries, for the purpose of developing Internet gaming software, including products for sports betting.
It claimed: “These shell corporations included Research Technology and Global Access. The offshore bank accounts were set up at Surety Bank and Trust in The Bahamas.”
There is nothing to suggest that Surety bank & Trust or its staff have done anything wrong or knew that the funds were from a sports betting operation that violated US law.
The indictment further alleged: “It was further part of the conspiracy that defendant David Hampton tedder opened two offshore accounts for Gold Medal Sports in The Bahamas at Surety bank & Trust.
“Tedder caused one of the Gold Medal accounts to be put in the nominee name of Corpus Harem. Defendant Tedder used these bank accounts to assist Duane Pede and Jeff D’Ambrosia [Gold Medal Sports’ majority shareholders] in transferring profits to an offshore location. He then assisted Mr. Pede and Mr. D’Ambrois in spending these profits on various expenditures.”
Source: Neil Hartnell, The Tribune
