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CryptoLogic: Business Link with Bill Scott Terminated1 November 2001TORONTO, Canada – Nov. 1, 2001 – As reported by Dow Jones Newswires: "Internet gaming software provider CryptoLogic Inc.] (CRYP) no longer does business with Bill Scott, a senior CryptoLogic official told Dow Jones. "Nancy Chan-Palmateer, director of communications at CryptoLogic, said Scott, who served three years in a U.S. federal prison on racketeering charges, was the company's first licensee, but CryptoLogic terminated the license agreement sometime in 2000. "But recent media reports have suggested that CryptoLogic continues to have a relationship with Scott, who lives in Antigua and runs World Wide Tele Sports, an online sports book. "Wednesday, a Canadian television news magazine, `The Fifth Estate,' aired a feature on CryptoLogic that raised more eyebrows. Footage shot at the Antigua offices of WWTS showed a white board with CryptoLogic's phone numbers prominently displayed on it. "…On Nasdaq Thursday, CryptoLogic is up 57 cents, or 4.3%, to $13.91 on about 88,000 shares. The stock fell $1.50 on Monday as word circulated that a negative television news feature about the company was about to be aired." |