Director of 666Bet Arrested on Fruad and Money Laundering Charges

Paul Bell, director of an online gambling company 666Bet, has been arrested by HMRC (HM Revenue and Customers) and the National Crime Agency in connection with fraud and money-laundering investigation.

Bell was arrested at Heathrow airport last week as a part of money-laundering investigation named “Operation Bannock” which involved police officers from all across the UK and investigators from the Isle of Man. Bell was later released by the police only to be arrested again a day later upon arriving to The Isle of Man.

According to The Independent, 13 properties in Chester, Manchester, London and Guernsey were raided by the "Operation Bannock" units and £1m in cash was seized. It is believed that six more people linked to the money-laundering fraud were arrested.

It didn't take long for The Gaming Commission to suspend the license of 666Bet, which has signed contracts with West Bromwich Albion and Leicester City last summer. Online gambling company has also signed Harry Redknapp, former football manager, to appear in their adverts.

Due to the license suspension, the deal for shirt sponsorship with Football League One Side Layton Orient was terminated. The UK Gaming Commission did not give any comments or details why the company’s subsidiary brands were suspended and refused to publicly comment on investigation.

Harry Redknapp claimed that he only did an advert for 666Bet and that he doesn't know what exactly is going on. Adverts for 666Bet also featured actor Vas Blackwood, who described 666Bet as a “hot gambling site”.

666Bet's Head of Brand Neil Andrews stated in an email to the Independent that police investigation is not related to company’s activities in igaming world. However, the website of the company is currently offline and its official Twitter account has published that site is under maintenance due to the unexpected circumstances. They have apologized to customers reporting that everyone will be made whole and no one will suffer any financial loss.

Although the Gaming Commission refused to comment, they have explained that suspension of Metro Play Limited license, which covers 666Bet and Metro Play, doesn’t prevent the company from returning balances to its customers.

Documents from the Isle of Man Financial Crime Unit have listed Paul Bell as an individual who is currently under criminal investigation. Mr.Bell couldn’t be reached for comment even though The Independent has contacted dozens of companies where he is listed as director or has interests.

The director of 666Bet, the company connected to two Premier League clubs, is reportedly worth of £400m and he is a shareholder in several FTSE-listed companies.