Ex-Ladbrokes leader indicted for bribe-taking and deceit by the Crown Prosecution Service

In a significant development for the gambling sector, the Crown Prosecution Service (CPS) has announced charges against several individuals, including former executives of Entain, a FTSE 100 group that owns well-known betting brands like Ladbrokes and Coral.

The charges, which stem from GVC's Turkish-facing operations during a period when online betting was restricted in the jurisdiction, are in connection with activities that allegedly took place between 2011 and 2018. Eleven individuals, including Lee Feldman, GVC's former non-executive chairman, and Kenny Alexander, the former CEO of GVC Holdings (now Entain), are facing criminal charges.

The offenses include bribery, conspiracy to defraud, fraudulent trading, cheating the public revenue, evasion of income tax, acting as a director of a company when undischarged bankrupt, and perverting the course of justice. If committed for trial, the case will be heard in the Crown Court.

Entain, which emphasizes that it is not a defendant in the proceedings, has previously reached a deferred prosecution agreement with the CPS in 2023 regarding historic bribery offenses in Turkey. As part of the agreement, the company paid a financial penalty and agreed to enhanced compliance measures.

The investigation, which was a complex and international one, according to Richard Las, director of HMRC's fraud investigation service, has seen close collaboration between the CPS and officers of HM Revenue and Customs (HMRC). Prosecutors allege that senior figures were involved in fraudulent activity and bribery to sustain the business before GVC eventually sold its Turkish assets in 2017.

The defendants, including Alexander and Feldman, are no longer holding positions at the company. If successful, the prosecution would represent a significant application of the Bribery Act 2010 in the context of online gambling services.

The case is likely to be closely watched across the gambling sector and beyond. The defendants are due to appear before Westminster Magistrates' Court on 6 October. The CPS has declined to comment further, citing the ongoing nature of the criminal proceedings. The search results do not provide information about the other ten individuals charged alongside Alexander and Feldman, nor the exact charges against them.

Ex-Ladbrokes leader indicted for bribe-taking and deceit by the Crown Prosecution Service