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About Ruth Monicka Parasol

https://www.recognisebank.co.uk/
Ruth Monicka Parasol is a pioneer in male-dominated industries and a successful entrepreneur, proudly championing opportunities for women. Her self-made fortune of over $1 billion, known as Parasol International, focuses on real estate, asset management, and private equity. Her current passion lies in multi-family real estate across the UK, USA, and other markets, as well as the digitization of traditional banking, particularly SME lending in the UK. A British citizen with multinational roots, Ruth Monicka Parasol was raised in California. After graduating from law school in 1993, she immediately gravitated toward the Information Highway boom of early Silicon Valley, becoming an internet pioneer and an early adopter of India-based software development, traveling there frequently for many years. Since 2003, she has predominantly lived in Europe. Ruth Monicka Parasol was one of the first women to use the internet and launch an internet business. She founded PartyGaming plc, a groundbreaking female-founded company, which went public on the LSE FTSE in 2005 with a record valuation of $8.46 billion. Parasol launched Starluck Casino Online in the Caribbean in 1997. In 1998, she made software engineer Anurag Dikshit a partner in her business, which later became known as PartyGaming Plc. In turn, Dikshit made Parasol a partner in his IT services business based in India. Vikrant Bhargava and Russ DeLeon joined as principals of Party Gaming in 2000 and 2001 respectively. Parasol and her ex-husband served as consultants to PartyGaming Plc until December 2006, and they sold their remaining shares in 2015. In October 2006, PartyGaming publicly withdrew from the U.S. market after the passage of the Unlawful Internet Gambling Enforcement Act of 2006, a piece of anti-gambling legislation approved by the United States Congress as part of the SAFE Port Act. As a result, the company’s share price dropped 60% and the company subsequently withdrew from the FTSE 100 Index. In 2008, Anurag Dikshit pleaded guilty to violation of the Federal Wire Act, agreed to cooperate with prosecutors, and personally paid $300 million to the United States Department of Justice as part of his plea. In 2009, PartyGaming entered a non-prosecution agreement with the Justice Department and paid a fine of $105 million. In 2011, the Justice Department reversed its earlier position, determining that the Federal Wire Act does not apply to online poker and casino games, only to sports betting. Her personal and business life has long been centered in Gibraltar, where she also founded The Parasol Foundation Trust. Through the foundation, Ruth Monicka Parasol has awarded over £40 million to leading organizations for women-focused initiatives, including partnerships with the V&A, Cambridge University, University of San Francisco, SpaceIL, Tel-Aviv Sourasky Medical Centre, and the University of Gibraltar.

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