Bodog Founder Calvin Ayre Named in Panama Papers

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Saturday, May 28th, 2016 | Written by Shane Larson

Earlier this year, many world leaders found themselves in the midst of a scandal when 11 million documents were leaked from a Panamanian law firm revealing that they or their family members had invested money in offshore accounts with the help of the firm’s lawyers. The so-called Panama Papers are still being sorted through by reporters, and recently, a name of interest to those in the gambling industry was spotted in the documents–that of Calvin Ayre.

Who Is Calvin Ayre?

Calvin Ayre is the founder of Bodog, a company that provides services for online gaming sites. Started in 1993, the company was operating its own gaming portal by the end of the 1990s, and at one stage operated many online sports betting sites, card rooms and casinos. Ayre reportedly made at least $1 billion from his company, in the process growing to become one of the richest people in Canada.

After the UIGEA legislation was passed in 2006, Bodog continued to operate illegally in the United States, but eventually Calvin Ayre formally stated that he was getting out of the American market. He licensed the name of his site to the Morris Mohawk Gaming Company, which reportedly continued to operate it and make millions throughout 2011. At that time, the site was seized by the United States and finally closed in the U.S.

The U.S. and Calvin Ayre

In 2003, the U.S. Justice Department began investigating Calvin Ayre’s business dealings. By 2012, the investigators had found evidence of shady dealings and began seizing his assets. All in all, the U.S. has seized more than $68 million from the billionaire. The U.S. government states that the money is owed for unpaid taxes to the IRS and for fees and fines accumulated on that tax debt.

In their report on Calvin Ayre, the U.S. Justice Department stated that Ayre had hidden money in offshore accounts. Although Ayre claimed to no longer be involved with Bodog’s operations in the United States, the Justice Department has accused him of operating Bodog illegally in the United States.

So far, Canada has been unwilling to extradite Ayre to the U.S. for a trial. It doesn’t seem that Ayre actually calls the country home anyway. At this time, Ayre appears to be living in Antigua and Barbuda, a Caribbean island nation that has long been at odds with the U.S. over gambling laws. The country has successfully won lawsuits against the U.S. in the World Trade Organization’s International Court over the U.S. preventing players from accessing their sites. Because of the history between the two countries, it seems unlikely that Antigua and Barbuda will be willing to hand over Ayre to the U.S. for prosecution.

While the information provided in the Panama Papers will probably not help convince foreign officials to allow Ayre to be extradited, the data leaked does give a glimpse into the finances of the controversial billionaire who reportedly amassed his fortune through illegal online gambling.

Self-Promotional Playboy

In spite of attention from US authorities, Calvin Edward Ayre, 54, continues to flaunt his billionaires’ playboy lifestyle, and regularly posts photos of himself to social media surrounded by women in bikinis, champagne, caviar, and armed bodyguards. In 2012, Ayre was then put on the Department of Homeland Security’s 10 most wanted fugitives list, while the recent Panama Papers revelations may help bring authorities a step closer to laying their hands on the hundreds of millions of dollars in illegal online gambling earnings he has successfully channeled into numerous offshore companies. Commenting on recent developments, a U.S. law enforcement official explained:

“Let’s just say we are very eager to see what’s in the documents. Any information that would help us.. locate accounts, or funds or investments of any kind, is something (authorities) would be interested in. When you look back at the files, you see that [the U.S.] seized a lot of money.”

The Mossack Fonseca files have the potential to lead to thousands of other prosecutions for offshore companies dealing in illegal activities, although whether Ayre could be made to pay for his crimes remains to be seen, especially with most of his assets parked safely offshore. As a Justice Department official explained to Forbes:

“It remains to be seen whether IRS agents could make Ayre pay, assuming they could get their mitts on either him or his money.”