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Betonsports boss sacked for being arrested

Don't bet on loyalty

Internet Security Threat Report 2014

Betonsports chief executive David Carruthers has been sacked by the firm following his arrest in Dallas last week.

In a statement given to the London Stock Exchange (LSE), the company said his contract was terminated yesterday and he had been removed from the board of directors.

The statement explained: "This action was taken as a consequence of Mr Carruthers' continued detention by US authorities. Clearly, while he remains in the custody of the US government he is unable to perform his duties. Further, the company has been unable to speak directly with Mr Carruthers."

Betonsports also tried to distance itself from founder Gary Kaplan. In a further statement to the LSE, which avoids using Kaplan's name, the company said: "The board wish to make absolutely clear that none of the founders of the original business has any continuing role within the company....the original founder has a consulting agreement with the company under which his role is non-management related."

Referring to "media reports", that'll be Hookers and high rollers in the Mail on Sunday, the statement says the allegations refer to before the company floated.

It says: "Since the time of its public listing, the board believes the company has operated in accordance with the standard expected of a UK Plc which is publicly quoted on AIM on the London Stock Exchange."

The statement says the company is evaluating all its options and "deciding what steps will be taken next". We are promised a further statement when those decisions are made. &reg

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