Internet mogul to pay $300 million

times wire reports

A co-founder of an Internet gambling company -- one of the world’s richest people -- pleaded guilty to violating the federal wire act and agreed to forfeit $300 million as part of a cooperation deal.

Anurag Dikshit, 37, of the British colony of Gibraltar, entered the plea in U.S. District Court in Manhattan to charges that he used the Internet to transmit interstate and foreign wagering information. The charge carries a potential prison term of up to two years.

Dikshit is the co-founder of PartyGaming, an online gambling company that offered casino and poker games and catered to a U.S. audience.

Forbes magazine estimated his worth last year at $1.6 billion.