Company struck off after US money-laundering claims

A Manx-based payment processing company will be struck off the Companies Register - four months after it was accused of money laundering by the American government.

Counting House, based in St George's Street in Douglas, was set up in 2009 and provides services to the e-Gaming industry.

Last year, however, the US Treasury Department claimed it was a criminal organisation which laundered funds worldwide.

The Department of Economic Development has now confirmed the firm will be struck off the register.

Counting House faced sanctions from the American government after it was accused of taking payments from a range of mail fraud schemes.

The company's chief executive Paul Davis, who runs two farms on the Island, was named individually by US authorities.

The accusations were made as part of a worldwide investigation into a group of companies called Pacnet which Counting House is linked to.

Under the Companies Act 2006 Counting House will be struck off the register in 12 weeks time unless the decision is challenged.