Gambling Commission Continues UK Election Betting Probe

Earlier this year, a massive betting-related scandal erupted in the UK just ahead of the country’s General Election. Labor and Conservative politicians, police officers and other people, suspected of placing bets on the date of the election with insider knowledge, fell into the sights of the gambling regulator, the Gambling Commission.

Up to Five Officials Suspected of Insider Trading May Face Prosecution

The unexpected announcement by then Prime Minister Rishi Sunak about the date of the upcoming elections set for July 4, resulted in suspicion of insider trading. Close to two dozen officials are suspected of unlawful activity and most recently, a former UK deputy PM, Sir Oliver Dowden, was interviewed amid the betting probe.

Now, as announced by Sky News, the probe of the Gambling Commission is currently ongoing, and prosecution is possible for at least three suspects. Citing unnamed sources close to the matter, the publication confirmed that the gambling regulator intends to prosecute a minimum of three suspects, but that number can reach up to five individuals, all suspected of insider trading in light of the election betting scandal.

Reportedly, the Commission’s list includes at least one politician and one protection officer. Not unexpectedly, names or any further information on the matter were not disclosed as the investigation into the unlawful actions by the Gambling Commission continues.

“The Gambling Commission is looking to prosecute at least three suspects, but possibly up to five. This includes a politician and a close protection guard,“

an unnamed source told Sky News

The Commission Seeks to Protect the Integrity of the Ongoing Investigation

The politicians and other officials, suspected of insider trading, are investigated regarding violations of the country’s Gambling Act. Insider trading is recognized as a breach under the Act’s Section 42 on cheating.

Still, in the absence of official information, the Commission is yet to confirm if that is the case. It is also too soon to tell what penalties may be enforced if the Commission concludes that certain individuals breached the established regulations by leveraging insider information to their advantage.

“We clearly appreciate the level of public interest there is in this ongoing investigation,“

explained a representative of the Gambling Commission

A spokesperson for the gambling regulator acknowledged the high level of public interest in the matter, adding that the investigation is currently ongoing. “But to protect the integrity of the investigation and to ensure a fair and just outcome, we are unable to comment further at this time, including the name of any person who may be under suspicion, or the total number of suspects,” added the Commission’s spokesperson.

Currently, it remains unclear when the Commission will release the result of its investigation. Undoubtedly the outcome will be another shock in a year that is filled with controversies surrounding election betting.