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Online Casino Industry Ponders Truth: 1

The new year has been off to a rough start between the scandals going down throughout the online casino gambling industry – and it doesn’t seem to matter if you’re one of the largest software providers in the world or one of the top affiliate networking companies. CAP has been all throughout the industry news with reports of an ongoing dispute between the two co-owners of the CAP brand and affiliated companies. And in more recent news CryptoLogic, less likely to self-destruct by this latest scandal is still embroiled in a pretty heated battle between the former CEO and the current management and financial team.

Information came to light in the past several weeks that really shook the online casino gambling industry – Javaid Aziz, the former CEO at CryptoLogic is locked in battle with the company over a huge sum of money that was held in escrow as part of Aziz’s severance package.

CryptoLogic licensed online casinos and gambling sites are carefully watching the situation develop as more information is released on the details of this dispute and precisely why CryptoLogic is unwilling to pay Aziz the rest of the money he feels is due to him. CryptoLogic has adamantly claimed that Aziz did not fulfill his end of the contract for severance and is therefore not owned the money in escrow.

The details of the debate have now gotten a bit more specific and the Financial Times, a top UK business paper that often includes pertinent updates from the online casino gambling industry, released some additional details about the situation and Aziz’s character while he reigned as CEO of the company.