North American Gaming & Gambling Holdings Ltd.

A telemarketing fraudster has agreed to assist in an attempt to recover US$1.6 million that the United States Attorney in Los Angeles believes is being held by Bermuda-based e-commerce firm First Atlantic Commerce.Prosecutors believe the funds are the proceeds of Timothy Ryan Babuin's fraudulent activities, according to a plea agreement that he entered into at the U. S. District Court for the Central District of California on July 3, 2003.