Jim Ryan: DGE Statement An "Amazing Way to Clear the Air"
Key Takeaways
  • Ryan served as CEO of software development Excapsa for a period in 2005-2006.
  • According to Ryan, the new Pala Interactive platform, which will launch online poker in early 2015, has no connection to the UB software.
  • “We took great pride in building a totally new site with state of the art anti-fraud protections.”

The New Jersey Division of Gaming Enforcement issued a statement Thursday that preliminary investigations had found “no evidence that [Jim Ryan] was aware of, or complicit in” any fraudulent activity when he was CEO of Excapsa during the Ultimate Bet “super-user” scandal.

Jim Ryan is now the CEO of Pala Interactive, which received preliminary approval from the DGE two weeks ago and went live this week with regulated real money gambling in New Jersey.

Ryan served as CEO of software development Excapsa for a period in 2005-2006. The company developed online poker software for UltimateBet, which was used to defraud its customers. Insiders stole at least $20 million from players using a so-called “superuser” accounts that could see opponents hole cards.