666Bet director arrested in £21m fraud investigation – report

A director at online betting operator 666Bet has been arrested in connection with a £21 million (€28.7 million/$31.1 million) fraud and money-laundering investigation, according to the Independent on Sunday newspaper.

As reported by iGaming Business, 666Bet last week had its licence suspended on an interim basis by the UK Gambling Commission (UKGC) regulatory body.

It has now been reported that one of the company’s directors was also arrested at London Heathrow Airport as part of a joint investigation by Her Majesty’s Revenue and Customs and the National Crime Agency.

The newspaper said that six other people were also arrested, 13 properties were raided and £1 million in cash was seized as part of Operation Bannock, which is being supported by investigators on the Isle of Man and the Channel Islands.

In an email responding to the arrests, 666Bet head of brand Neil Andrews said that the inquiry has “nothing to do with the day-to-day running of 666Bet”.

Paul Bell, a former stockbroker who is now an investor, was also re-arrested by police in the Isle of Man despite having been released earlier the same day.

Bell is reported to have interests in various markets, including 666Bet within the gaming sector.

Documents from the Isle of Man Financial Crime Unit list Bell as an individual who is “part of an active criminal investigation”, although a source said that the investor “vigorously denies any wrongdoing”.

The documents also names three other individuals in addition to 25 firms that are currently under investigation as part of the wider probe.

The UKGC is yet to comment on the case, but last week confirmed it had begun an investigation into the 666Bet and Metro Play brands, with the licences of both operators suspended until further notice.

In the wake of the suspension, English League One third-tier football club Leyton Orient also opted to terminate its sponsorship deal with 666Bet.

Related articles:

Leyton Orient terminates 666Bet sponsorship deal

666Bet licence suspended by the UK Gambling Commission

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