The writ, filed on June 6 with Bermuda's Supreme Court, did not give an amount.

Mr. Belboda was the manager and major shareholder of Top Turf Off Track Betting.

Earlier this year, Top Turf lost its right to operate although its licence could be restored if it got its affairs in order, a Betting Licence Authority panel ruled on April 5.

The company was given until June 30 before it could reapply for its licence.

The Finance Ministry opposed Top Turf's licence renewal because it claimed the company's affairs were not properly managed and further alleged the business was insolvent.

It was alleged there was no way to show who owned the company because there were never any formal meetings. But the panel ruled the allegations that the books were not in order and that the company was insolvent were not proven during the trial.

Top Turf Enterprises also owed Government $108,455 in betting taxes.

During the trial, the Crown claimed Belboda was a puppet who directors Richard Rizzo and Daniel Pisani used to satisfy legal requirements that a company must be 60 per cent Bermudian-owned.

Mr. Rizzo left the Island on February 16, six days after Government inspected the business.

Mr. Pisani is the former manager of Bermudian boxer Troy Darrell.

The business became the centre of a Ministry of Finance investigation because it allegedly attempted to avoid paying taxes using a home in Warwick to receive bets from Americans through a rented post box. Money was also allegedly deposited in an Antiguan bank.