In light of the US Department of Justice indicting more online gambling operators last week, BetEd.com has folded as a result. They were forced to cease trading as they had to no way to continue processing payments.
Rumours are that their main headquarters in San Jose, Costa Rica was now shut after the US Department of Justice seized their bank accounts and domains. As a result, BetEd.com was and are unable to pay their players or receive funds.
As reported earlier this month, the Homeland Security Investigations in Baltimore, Maryland created and operated an uncover payment processor in the name of Linwood Payment Solutions. The US DoJ revealed in their indictments that Linwood Payment Solutions had been processing payment transactions for BetEd since 2009.
The two BetEd.com representatives were named in the indictment as Canadian guys, Darren Wright and David Parchomchuk. They operated under the company name ThrillX Systems. The 2 accused transferred money using Linwood Payment Solutions to a Credicorp bank in Panama. These accounts were swooped by the Department of Justice disabled BetEd.com to continue operating.
As a result, many BetEd.com players have lost their account balances as the US facing sportsbook disappeared and went offline. The sportsbook was quite small and is the only direct casualty of the Department of Justice indictments.