Peter Dicks

Peter F. Dicks (born 1942, Essex) is a London-based investment manager and venture capitalist. He was the co-founder of Abingworth plc, one of the earlier venture capital funds in Europe. He is also the former chairman of Sportingbet PLC, one of the world's largest sportsbooks.

Early in his career, Dicks was a stock broker with Joseph Sebag & Co where he met Anthony Montagu. In 1973, Messrs Dicks and Montagu left Joseph Sebag and formed Abingworth plc in London. Abingworth was one of the earlier venture capital firms formed in Europe. Abingworth primarily invested in early-stage companies, specializing in technology start-up companies in the United States, and invested in such notable companies as Apple Computer, Silicon Graphics and 3COM.

Mr. Dicks has served as non-executive Chairman or Director of numerous companies and investment funds, but it was Mr. Dicks tenure as non-executive Chairman of Sportingbet PlC that earned him global notoriety. On September 7, 2006 Mr Dicks was detained by U.S. Customs officials at New York City's John F. Kennedy International Airport. He was detained under an outstanding warrant issued by the state of Louisiana that charged Mr. Dicks with running a gambling enterprise by computer, a crime under Louisiana law. [ [http://business.guardian.co.uk/story/0,,1868328,00.html?gusrc=rss&feed=24 Guardian Unlimited Business - Sportingbet Arrest Threatens Internet Gambling. Published September 9, 2006] ]

His arrest came two months after the arrest of competitor David Carruthers, CEO of rival firm BetonSports. In contrast to Carruthers, who is being held on Federal charges, Dicks is charged only with violating Louisiana law.

Dicks was released on $50,000 bail on September 9; shortly thereafter he tendered his resignation as Sportingbet chairman and fought his requested extradition to Louisiana. A hearing scheduled for September 28, 2006 was postponed until the following day to allow New York court officials time to reach a decision. [ [http://business.timesonline.co.uk/article/0,,9070-2357868,00.html Times Online - Dicks quits Sportingbet as bail is relaxed. Published September 14, 2006] ] On September 29, Judge Lopez announced that the warrant would not be enforced, and that Mr. Dicks was free to return to the UK. New York governor George Pataki stated that because internet gambling is not a crime in New York, the state does not have the authority to extradite Mr. Dicks to Louisiana. [ [http://business.timesonline.co.uk/article/0,,8209-2381378,00.html Times Online - Dicks free to return home as extradition fails. Published September 29, 2006.] ]

Mr. Dicks didn't live in the United States as he is a citizen of the UK and only came to the U.S. for business matters unrelated to internet gambling. This led to controversy as to whether it was legally permissible to punish Mr. Dicks as he was not physically in the United States at the time of the alleged crime.

ee also

*NatWest Three
*David Carruthers
*Jay Cohen
*Neteller
*Nigel Payne
*Gary Kaplan

Notes

External links

* [http://www.sportingbetplc.com Sportingbet corporate site]
* [http://www.timesonline.co.uk/article/0,,2095-2350224,00.html Sunday Times article]