Dikshit Pleads Guilty, Will Forfeit $300 Million

Honestly, I'm not sure which is worse. Being named Dikshit or forfeiting that kind of coin.

A co-founder of an Internet gambling company who was listed among the world's billionaires last year has pleaded guilty to a federal crime and agreed to forfeit $300 million.

A smiling Anurag Dikshit of India entered the plea Tuesday in federal court in Manhattan. He is the co-founder of PartyGaming, an online gambling company registered in the United Kingdom.

Dikshit signed a cooperation agreement and prosecutors indicated they may eventually submit a letter to the judge asking for leniency.

The charge of violating the federal wire act carries a potential prison term of up to two years.

Dikshit and defense lawyer Mark Pomerantz declined to comment.