Crooks are everywhere

Recommended Posts

Bill Vlahos has been sentenced to nine years’ jail over a scam that may have lost punters close to $150 million, News Corp Australia has reported.

Vlahos, 56, who was sentenced in the County Court of Victoria on Friday, had pleaded guilty to two charges of fraudulently obtaining $17.5 million from 71 punters.

However, according to the News Corp report, the actual losses were closer to $150 million as it was believed a number of punters refused to take part of court action.

The County Court found Vlahos’ scheme involved taking money from punters claiming to bet on Sydney and Melbourne races each Saturday, but never actually placing the bets.

Judge Douglas Trapnell said Vlahos’ offending was motivated by ‘’sheer greed’’ and that he had been shocked at his lavish lifestyle.

The court heard Vlahos used punter’s money on expensive items with his company BC3 Thoroughbreds spending $5 million to buy the yearling half brother of champion Black Caviar.

Judge Trapnell sentenced Vlahos to six years’ jail on the first charge of obtaining financial advantage by deception and to five years on a second charge, with three years of that sentence to be served cumulatively.

The maximum sentence for each charge of obtaining financial advantage by deception was 10 years.

Vlahos has already served 682 days on remand.



Share this post

Link to post
Share on other sites
21 hours ago, Charlie Bukowski said:

Still the bottom line is, if you're on the outskirts of the well known criminal sector you can still launder your money through Racing circles, is our AML and RIU strong enough to counter these crims 

Crime Syndicates would go broke racing in NZ ! 🤣 I now know why the Aussie Stakes are so good ! 🤫😆

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.