The West Midlands gaming executive being held in the United States on racketeering charges was removed as chief executive and director of his company yesterday.
BetonSports said the decision to terminate the contract of David Carruthers, from Bromsgrove, had been taken as a consequence of his continued detention by US authorities - although they had yet to inform him of their decision.
Mr Carruthers - arrested last week while en route from London to the company's base in Costa Rica - is among 11 people and four companies charged with alleged violations of America's Wire Act, which outlaws the placing of bets on sporting events via the telephone.
The London-listed company, which has been forced to shut down 85 per cent of its business because of the case against it, said: "Clearly, while he remains in the custody of the US government, he is unable to perform his duties.
"Further, the company has been unable to speak directly with Mr Carruthers."
The charge refers to "illegal wagering on professional and college football and basketball".