Following months of intensive investigations by the Malta Police Economic Crimes Unit and the Lotteries & Gaming Authority (LGA) Malta, Michael Zwi Oros, one of the directors and also the Key Official of remote gaming company Everleaf, was arrested and yesterday appeared before Magistrate Doreen Clarke charged with misappropriation of players’ funds. He was also charged for not paying outstanding gaming taxes and licence fees.
Michael Zwi Oros was granted bail and ordered to pay €10,000 deposit. He cannot leave the island and he has to sign in at the St. Julian’s Police Station every day. This criminal investigation is still ongoing regarding Mr. Jean Pavili another director of Everleaf.
Joseph Cuschieri, Executive Chairman of the LGA in a statement to the media said that after months of investigations, the Malta Police have now managed to arrest one of the two directors of Everleaf and is committed to continue with its efforts in bringing to justice the other director who were ultimately responsible for the operations of Everleaf. Our key objective is to recover the funds owed to the players. We are committed to ensure that player funds are protected at all times and to this effect, the LGA will be taking concrete measures to strengthen its player protection mechanisms well beyond the benchmarks in Europe and other jurisdictions said Mr. Cuschieri.
The Maltese & lotteries Gaming Authority (LGA) suspended the gaming licenses held by Everleaf Gaming Limited with effect from July 26, 2013. Everleaf was ordered not to register new players, take any new deposits, and not to offer any games falling under LGA license.
Everleaf pulled out of the US market in February 2012 following the seizure of $27k from a payment processor.