Betonsports.com, the troubled online bookmaker, has terminated the contract of its chief executive David Carruthers, who is currently being detained in the US on racketeering, conspiracy and fraud charges.

The company said in a statement that the action was taken as consequence of Mr Carruthers’ continued detention by US authorities, adding: “Clearly, while he remains in the custody of the US government he is unable to perform his duties.”

The company released another statement that specified that Carruthers was the only member of the Betonsports board that worked for the business prior to its AIM-flotation in July 2004.

It was also made clear that all the charges brought related to a time before the float.