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PartyGaming Names
New CEO
PartyGaming - the
largest IPO of 2004
on the London Stock
Exchange - has
wasted little time
in appointing a new
CEO.
The
online poker and
betting company firm
said on Thursday
that Jim Ryan would
be its new chief
executive,
succeeding Mitch
Garber who leaves
the company on May
16.
Garber will remain
available as part of
the handover process
until July 31, the
company said in a
statement.
Founders of
PartyGaming have
been in negotiations
with the United
States government
though no
indictments have
been issued against
them or the company.
Still, the US wants
blood. They
want founders Ruth
Parasol and her
husband to serve
alternating
sentences in order
that one will always
be available to care
for their small
children. In
addition to the jail
sentences (rumored
to be maxed out at 5
years each), reports
have the US
Government is
demanding hundreds
of millions in
fines.
Sources close to
Gambling911.com have
said that neither
Ruth nor her husband
will accept prison,
even if it's for a
day. The two
sides are still
talking. Ruth
Parasol became one
of four online
gambling
billionaires in
2006.
Parasol's attorney
is the same man who
defended former US
President Bill
Clinton during the
Monica Lewinsky
scandal.
PartyGaming's
PartyPoker is the
4th largest online
poker room.
----
Christopher
Costigan,
Gambling911.com
Publisher
CCostigan@CostiganMedia.com
Originally published
May 15, 2008 11:17
am EST
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