revenue if it denies Top Turf Off Track Betting a new licence.

Mr. Edward Bailey, who represented the company during its two day trial that ended yesterday, made this claim during his summation in Magistrates' Court.

He said his clients, who already owe Government $108,455 in taxes, should be granted a licence so that they can get back on their feet and pay off their debts.

A licensing panel will make that decision on Wednesday.

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. Today the shop is closed after its licence expired at midnight.

Yesterday the Crown alleged that it's Bermudian manger Vincent Belboda was a "front man'' because he had no idea about the inner workings of the business and lacked formal management experience.

The Crown claim Belboda was a puppet that Richard Rizzo and Daniel Pisani were using to satisfy legal requirements that a company must be 60 percent Bermudian owned.

Both Pisani and Rizzo, who are also the company's directors, have criminal records.

Rizzo left the island on February 16, six days after Government inspected the business and has not returned. He was jailed in the United States for one year and a day in 1977 for unlawfully promoting gambling and possessing gambling receipts.

Pisani was convicted in 1980 for unlawful imprisonment and sent to jail for three years. He was released in 1981.

Mr. Storr pointed to the company's large phone bill, $7,000 paid to rent Reid House and a post box in Warwick which all had been set up in the company's name.

Belboda admitted that it was his job to manage the company. However he had no knowledge of the large phone bills until the phones were disconnected.

Furthermore, he denied any knowledge of betting activity allegedly being carried out from a home in Warwick, or the rental of Reid House or a post box in Warwick.

Belboda, also denied owning the company even though he possess 735 of the company's 1200 shares.

"I do not own the business,'' he said. "Dan Pisani owns it.'' Pisani, who is the president of the company, owns 237 shares and has been with the company more than 20 years.

Moreover, Belboda said he did not know much about Rizzo including his function.

He admitted that he lacked formal experience working in the betting business apart from making an occasional bet although he said he owned two other businesses.

Belboda said his main responsibility involved signing blank cheques that an assistant manager would use to pay bills.

Although a Government inspector said there had been no formal meetings in September 1991 as the Companies' Act requires, it emerged yesterday that the company had regular meetings.

Ardon Management Services corporate secretary Mrs. Pamela Bean said Top Turf's minute book met all legal requirements for 1993 and 1994.

Mr. Bailey said the companies alleged improprieties were not Belboda's fault and were the result of Rizzo going "on a frolic of his own''.

Rizzo, he said, signed the cheque to rent Reid House and made the application for the post box in Warwick.