An Indian millionaire who owns an Internet gambling company has pleaded guilty to violating American laws and has agreed to forfeit $300 million as part of the deal.
The 37-year-old Anurag Dikshit who is co-founder of the Gibraltar-based UK company PartyGaming appeared in the Southern District Court in New York, and read a statement expressing regret for his actions.
Dikshit faced charges of using internet to transmit inter state and foreign betting information, a charge which carries potential prison term of two years, Financial Times reported.
"I pleaded guilty as I came to believe there was a high probability that the companys business was illegal under US laws," Dikshit said.
His company offered casino and poker games for the American clientele and the case had been going on in the district court for the last two years. Judge Jed Rakoff set his sentencing date for two years.
Dikshit agreed to cooperate with the prosecution and prosecutors indicated that they may submit a plea to the judge asking leniency for him. Though bail was set at $15 million, but Dikshit was not required to pay or post it, in view of his cooperation.
Prosecutors told the judge that Dikshit had demonstrated his intention to cooperate by already paying $100 million to the US Treasury and promising to pay another $100 million in three months and the last instalment of another $100 million by September 30, next year.
Forbes magazine has estimated Dikshit's worth at $1.6 billion, making him one of the richest men in the world.