WILLEMSTAD – A new investigation by Dutch investigative journalism platform Follow the Money (FTM) has raised serious concerns about the effectiveness of the Curaçao Gaming Authority's screening procedures after confidential documents revealed how a businessman previously investigated in a United States money-laundering case became involved in a major online gambling operation licensed through Curaçao.
The investigation centers on American businessman Nicholas Beugg, who, together with Dutch entrepreneur Nick van Gorsel, is identified by Follow the Money as an owner of Blaze, the online gambling platform that generated hundreds of millions of euros in profits in Brazil.
According to the investigation, Curaçao's gambling regulator received information about Beugg's previous involvement in an American law enforcement investigation but accepted an explanation suggesting that the individual named in the case was someone else.
Follow the Money subsequently compared confidential licensing records with publicly available information and American court documents, concluding that the individuals were the same person.
The findings raise questions about the depth of background investigations conducted by Curaçao's gambling regulator and the procedures used to assess the integrity of individuals seeking to operate licensed gambling businesses.
The American case dates back to 2017, when Beugg, then approximately 21 years old, became involved in a cryptocurrency investigation.
According to American judicial records examined by Follow the Money, Beugg had conducted Bitcoin transactions with an undercover informant involved in the sale of heroin and fentanyl on the darknet.
During a police encounter in 2017, officers discovered nearly $600,000 in cash inside his vehicle.
Authorities investigated possible money laundering connected to cryptocurrency transactions.
However, the case was closed in 2020, and Beugg eventually recovered the seized money following legal proceedings.
The closure of the case is an important distinction: the investigation described by Follow the Money does not establish that Beugg was convicted of money laundering.
Nevertheless, his previous involvement in the investigation became relevant when Curaçao's gambling regulator assessed the individuals behind Blaze.
According to internal communications obtained through the Casino Secrets document leak, employees of the Curaçao Gaming Authority were aware of the American proceedings.
However, the regulator indicated that it could not properly examine certain court documents because accessing them required payment or a subscription.
The authority consequently reported that it could not determine whether the closed case represented grounds for concern.
The situation became more troubling when representatives of the gambling company's local trust office reportedly informed the regulator that the American investigation involved another individual with the same name.
According to Follow the Money, the regulator accepted assurances that the matter involved mistaken identity while awaiting additional supporting documentation.
The investigative journalists subsequently compared residential addresses, dates of birth, contact information and other identifying details contained in the leaked licensing documents with American court records.
Their findings indicated that the businessman involved in the American investigation was the same Nicholas Beugg connected to Blaze.
The investigation does not establish that the Curaçao Gaming Authority deliberately ignored wrongdoing. However, it raises significant questions about whether officials conducted sufficient independent verification before accepting explanations provided by representatives of gambling companies.
Follow the Money requested a response from the Curaçao Gaming Authority.
The regulator declined to discuss the individual case, citing its legal confidentiality obligations.
However, it acknowledged that the situations raised by the journalists had its attention and explained that enforcement of the stricter licensing framework remained subject to a transitional period under the responsibility of Curaçao's Minister of Finance.
The findings are particularly significant because Curaçao introduced a new regulatory framework in 2024 intended to strengthen oversight of the online gambling industry.
The reforms were designed to improve transparency, establish stricter licensing requirements and strengthen scrutiny of the individuals and companies operating gambling platforms through Curaçao.
Yet Follow the Money reports that Blaze successfully completed the revised licensing process despite its controversial history in Brazil and the questions surrounding one of its owners.
The investigation also highlights the influential position of trust offices in Curaçao's gambling industry.
Blaze operates through Prolific Trade NV, a company represented locally by trust services provider Emoore.
According to Follow the Money, Emoore was representing at least 65 licensed gambling companies on Curaçao by the end of 2025.
Such offices provide administrative and corporate services to foreign gambling operators, including establishing local entities, managing company structures and assisting with regulatory applications.
Their role means that gambling regulators frequently receive information about foreign owners through local corporate service providers.
The Beugg case illustrates the potential risks of relying on representations from intermediaries without independently verifying important background information.
Follow the Money also uncovered connections between Van Gorsel, Beugg and another gambling platform targeting Brazil.
The leaked documents identify the two businessmen as the ultimate beneficial owners of a Curaçao-registered company associated with Jonbet, a gambling brand promoted by Brazilian social media personality Luan Kovarik, better known as Jon Vlogs.
Jon Vlogs has become a prominent opponent of Brazilian President Luiz Inácio Lula da Silva's restrictions on online gambling.
The discovery demonstrates how the same individuals can operate multiple international gambling brands through separate companies registered in Curaçao.
This creates additional challenges for regulators seeking to identify common ownership, monitor financial activities and assess risks across interconnected gambling businesses.
The investigation forms part of the Casino Secrets project, which uses confidential documents obtained from Curaçao's gambling regulator by German hacker Lilith Wittmann.
Follow the Money and its international media partners have been examining the material to identify weaknesses in the licensing system and reveal the individuals behind gambling companies operating internationally.
The latest findings raise important questions for Curaçao's government, particularly the Ministry of Finance, which is responsible for the gambling regulatory framework.
Among the issues requiring clarification are whether the Curaçao Gaming Authority has sufficient access to international criminal and judicial records, whether background checks are independently verified and how regulators respond when licensing applicants provide explanations that conflict with publicly available information.
The investigation also raises questions about the implementation of Curaçao's revised gambling legislation and whether the transition to stricter supervision has produced meaningful improvements in the examination of license holders.
For an industry that operates internationally and involves substantial financial transactions, effective supervision depends not only on obtaining documents from applicants but also on verifying their accuracy.
The Curaçao Gaming Authority has not publicly disclosed the details of its assessment of Beugg or explained whether the findings reported by Follow the Money will result in additional regulatory action.
The broader issue is whether Curaçao's gambling reforms can deliver the transparency and accountability necessary to restore confidence in the island's licensing system.
As Follow the Money's investigation demonstrates, identifying the individuals behind online casinos is only the first step. Determining whether they meet the standards required to operate under a Curaçao license is equally important.