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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook -- Ignore unavailable to you. Want to Upgrade?


To: jimmy who wrote (5062)8/20/1999 1:18:00 PM
From: Herc  Respond to of 8858
 
The only news I found was on Bloomberg. Gee, Gator must be devastated!

<<Starnet Communications Falls After Canadian Police Raid Offices

Starnet Communications Falls After Canadian Police Raid Offices
Vancouver, Aug. 20 (Bloomberg) -- Shares of Starnet Communications International Inc. fell as much as 49 percent after radio reports said its offices and homes of its executives were raided by Canadian law authorities investigating illegal betting and pornography charges.

Vancouver-based Starnet, which recently shifted from Internet pornography to online gambling, fell 5 to 8 1/8 in early afternoon trading of 3.5 million shares, more than four times the three-month daily average. Shares touched 6 3/4.

CKNW/98 radio in Vancouver said that Starnet's offices and the homes of six directors and executives were raided, and that police were also investigating possession of proceeds of crime. The company had been under investigation for 18 months regarding illegal gambling and distribution of pornography over the Internet, the station said.

CKNW/98 reported that police said millions of dollars flowed through Starnet through its Internet-based gaming system.>>