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Online Gambling Boss Will Pay $300 Million

MANHATTAN (CN) - A founder and former operator of PartyGaming, an online gambling operation, agreed to forfeit $300 million for using wires to gamble illegally in interstate commerce, federal prosecutors said. Anurag Dikshit also could face up to 2 years in prison.

Dikshit, 37, ran the Gibraltar-based company's computer operations from 1997 through 2006. About 85% of its income came from the United States, the U.S. Attorney's Office said.

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