{"id":7355,"date":"2024-06-17T00:39:04","date_gmt":"2024-06-17T00:39:04","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/06\/17\/entain-faces-100-million-compensation-payout-over-turkish-bribery-scandal\/"},"modified":"2024-06-17T00:39:04","modified_gmt":"2024-06-17T00:39:04","slug":"entain-faces-100-million-compensation-payout-over-turkish-bribery-scandal","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/06\/17\/entain-faces-100-million-compensation-payout-over-turkish-bribery-scandal\/","title":{"rendered":"Entain Faces \u00a3100 Million Compensation Payout Over Turkish Bribery Scandal"},"content":{"rendered":"
\n

Entain may owe over \u00a3100 million ($127 million) in compensation to investors due to its failure to disclose issues related to bribery and corruption in its former Turkish operations, according to The Guardian.<\/p>\n

Legal firm Fox Williams is leading the action following Entain\u2019s settlement agreement<\/a> to pay nearly \u00a3600 million ($765 million) to HM Revenue and Customs (HMRC). Finalized in December 2023, this settlement ranks among the UK\u2019s largest financial penalties, stemming from a bribery investigation.<\/p>\n

Entain, the parent company of Coral and Ladbrokes, saw its shares drop nearly 50% since announcing in May 2023 that it faced a substantial penalty to settle with HMRC.<\/p>\n

In August of last year, Entain set aside \u00a3585 million ($746 million) in anticipation of the investigation settlement. The deal concluded in November included a financial penalty and \u201cdisgorgement of profits,\u201d where funds from illegal acts are surrendered. Additionally, Entain agreed to donate \u00a320 million ($25.5 million) to charity and pay \u00a310 million ($12.8 million) towards HMRC and Crown Prosecution Service costs.<\/p>\n

The investigation, launched by HMRC in 2019, examined \u201cpotential corporate offending\u201d by Entain\u2019s Turkish-facing online betting business from 2011 to 2017. It also scrutinized activities of third-party suppliers and former employees. Entain, then known as GVC, was accused of lacking adequate procedures to prevent bribery benefiting the business.<\/p>\n

\n
\n
\n
\n