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Author Topic: Bill Vlahos - Psychology of Punting  (Read 129670 times)

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Offline Jims Punting

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« 2014-Dec-22, 01:02 PM Reply #200 »
I suppose one should be thankful providence intervened before more shekels were "invested."

Sometimes it's a blessing not be in on the best kept secrets of the wealthy.

It's repeated over and over, and yet the corporate watchdog is still unable to protect people from themselves.
Personally I do not think people need protecting from themselves.

If people invest money in risky places eg horse-racing  :sad: it's probably a sign that most didn't have to work too hard for it  :o
And lack of respect for easy money could be what leads to such losses ... just a view

Thanks for the story jfc

Online fours

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« 2014-Dec-22, 01:11 PM Reply #201 »

Ostentatiously bidding more than others at horse auctions is a sign of a very bad trader and not a good trader - a red flag common to these two.

Too fall for such a ploy makes one wonder how these rich people ever made their money in the first place to invest/lose.


Online jfc

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« 2014-Dec-22, 01:24 PM Reply #202 »

Yet Bastion with Hawke then wended their way through the Pacific concocting Kickback schemes for fictitious Asian High Rollers.

When in fact the beneficiaries of such schemes were locals who thought paying their fair dues was only for little people.

Online jfc

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« 2015-Jan-23, 03:29 PM Reply #203 »
As the fraud squad continues to probe Vlahos' dealings, the fact that up to 100 Victorian police officers may have invested in the club is reportedly jeopardising the efficacy of the investigation.

You'd hope Police would be brighter than the mug in the street, but this disclosure suggests otherwise.

Offline PoisonPen7

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« 2015-May-04, 09:14 AM Reply #204 »
Bill Vlahos subpoenas Widden Stud’s Antony Thompson over sale of former gun sprinter Zoustar

THAT man again, Bill Vlahos, has re-entered racing news after his lawyers subpoenaed Widden Stud’s Antony Thompson.

Vlahos, from BC3 Thoroughbreds, is claiming Thompson sold Zoustar to Qatar Bloodstock without his consent — but why does Thompson need it given Vlahos hadn’t paid the 10 per cent deposit on the $18 million deal within the 14-day cooling off period?

Well, according to Vlahos’s men, he had a Right to a Remedy at the end of that 14-day period. It’s alleged Widden sold Zoustar during this time for $26m.

Offline j.r.b.

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« 2015-May-04, 10:03 AM Reply #205 »
Vlahos is actually not doing anything.

The liquidators of the BC3 corporate entities are pursuing Widden over some alleged dodgy dealings, which were to BC3's significant financial disadvantage in the Zoustar stallion deal.

Offline Arsenal

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« 2015-Dec-14, 04:30 PM Reply #206 »
SUCCESSFUL punters who took part in Bill Vlahos’ collapsed gambling scheme have been sent letters demanding they return $23 million of their winnings to punters who lost.

Vlahos’ bankruptcy trustee, Clyde White, has sent 73 letters of demand threatening court action if they do not pay up.

One small group of investors was asked to return $4 million and three individuals were hit with claims of more than $2 million each.

Mr White is seeking $23,350,110 in total, or an average of $315,000 each from successful punters.

He has already clawed back $900,000 from Sydney investor Ibrahim Elbekkahi after taking Federal Court action.

“I’m not just shaking the tree and hoping for something to happen,” he said.
“I’m taking legal action ­because of my investigations and the evidence that I have; I’m sure I have a claim against them.

“It’s not just based on frightening people into returning money.

“This is a case where a lot of people have been hurt and they don’t need me making unreasonable demands.”

Investors would get 15c in the dollar back if all the “winners” of the scheme, which had total losses of $150 million, ­returned their cash.

Victoria Police’s fraud squad has been reviewing four million documents as part of its two-year investigation into the scheme.

Investors have said there was no hope Mr White would claw back the $23 million, and raised concerns about his fees.

“A lot of people were saying we might get some money but they won’t see a cent,” an ­investor said.

“They got money from the sale of his home in Torquay and all of a sudden that got ­absorbed in the trustee fees.”

Mr White’s fees have ­already totalled $427,030 for his investigations into the scheme, which has included contacting Westpac, NAB and HSBC banks, as well as discussions with Victoria Police.

He has sought another $450,020 to finish his work, which will be voted on at a creditors’ meeting at Victoria University on Flinders St on December 17.

Mr White has made the claim against punters under Section 120 of the Bankruptcy Act, claiming he has a right to get back money which was paid out from Mr Vlahos’ ­estate in the past five years that had been given for “less than market value”.


Mr White is the only winner out of this ....he expects the successful punters to hand over their winnings......and in return get 15c in the dollar back. :o

Giddy Up :beer:

Offline Jims Punting

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Offline Arsenal

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« 2018-Mar-20, 09:23 AM Reply #208 »
Vic racing identity fights betting charges
Posted by: AAP+ at 2:16pm on 19/3/2018
Posted in: Horse Racing News

Fallen Victorian racing identity Bill Vlahos will fight hundreds of fraud and deception charges over a betting syndicate in which investors lost millions of dollars.

The former BC3 Thoroughbreds chairman pleaded not guilty in Melbourne Magistrates Court on Monday to 349 counts of obtaining financial advantage by deception and one count of attempting to destroy documents to be used as evidence.

He is accused of defrauding hundreds of investors through his betting syndicate, The Edge, between 2008 and 2013.

“I find the evidence is of sufficient weight to support a conviction for each of those charges,” magistrate Donna Bakos told the court.

The matter had been scheduled for a pre-trial committal hearing, with more than 80 witnesses expected to give evidence.

The court was previously told Vlahos’ syndicate had more than 1000 members before its 2013 collapse when punters wanted to cash out.

Investors believed their money was being placed on horse races, and that they were earning lucrative annual returns.

Additional counts of obtaining financial advantage by deception were withdrawn against Vlahos in 2017.

This meant a reduction in the amount of money he was accused of scamming, from $120 million to $40 million, the court was previously told.

Vlahos is due to face the County Court for a directions hearing on Tuesday.

 Giddy Up :beer:

Offline PoisonPen7

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« 2018-May-04, 01:27 AM Reply #209 »
From Breednet

Zoustar Court Case Resolved in Favour of Widden

NSW breeders will be pleased to know that Australia's Champion First Season Sire elect Zoustar will remain permanently in the Hunter Valley at Widden Stud where his stud career began.

The court cases brought against Widden Stud by Mark Rowsthorn's Woodside Park/Merrow Nominees and the liquidators of BC3 have both been resolved in favour of Widden Stud.

Widden Stud's Antony Thompson is relieved and delighted with the verdict as Zoustar's fortunes continue to rise.

"It's fantastic to have been vindicated and have the cases behind us. We are excited that Zoustar will remain at Widden permanently and we look forward to him cementing his position as the most exciting young stallion in the Hunter Valley," Thompson said.

BC3 is a company that was previously run by Bill Vlahos who is currently facing over 200 criminal charges for fraud and both cases arose out of the purchase of Zoustar back in 2013 by Widden Stud.

Woodside Park's/Merrow Nominees have sold their interests in Zoustar to Widden Stud and are no longer involved with the Zoustar Syndicate.

The BC3 claim against Widden Stud was withdrawn with judgment and costs awarded in favour of Widden and against the liquidators of BC3 on day 2 of the hearing that was set down for two weeks.

"Widden Stud has always maintained that it honoured its obligations and that both cases were baseless," Thompson added.

"We are delighted to welcome China Horse Club and Gerry Harvey's Baramul Stud to the Zoustar syndicate. I'm sure with the tremendous support in the quality of mares that have been booked in this year there are only greater things in store for Zoustar."

Zoustar is currently leading first season sire in Australia with five winners, six placegetters and three stakes performers from his first crop that were conceived at Widden.

His first crop includes the Magic Millions winner Sunlight, who was bred in a partnership between Qatar Racing and Widden Stud and has won $1.8 million.

Zoustar's current service fee at Widden is $60,500 incl. GST and he is fully booked for the upcoming season.

Zoustar has two stakes runners this Saturday with the Chris Waller trained Lean Mean Machine to contest the Group III Ken Russell Classic at the Gold Coast, while Solar Star tackles the Listed SAJC Queen Adelaide Stakes at Morphettville.

Offline Arsenal

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« 2019-Sep-30, 04:12 PM Reply #210 »
Racing figure guilty of $18m betting fraud
Posted by: AAP+ at 2:40pm on 30/9/2019
Posted in: Horse Racing News

IMAGE: AAPBill Vlahos has admitted to defrauding punters of almost $18 million across five years in a complex betting ring fraud

Fallen Victorian racing identity Bill Vlahos has admitted to defrauding punters of almost $18 million across five years in a complex betting ring fraud.

The 54-year-old pleaded guilty in the County Court on Monday to two charges of obtaining financial advantage by deception between 2008 and 2013.

Vlahos was initially charged with more than 350 offences but prosecutors withdrew multiple counts of obtaining financial advantage by deception and one count of attempting to destroy documents to be used as evidence.

This meant a reduction in the amount of money he was accused of scamming from $120 million to $17,520,225.

More than 1000 people poured money into Vlahos’ syndicate with the promise of big returns.

The court heard the former BC3 Thoroughbreds chairman would supply gamblers with ‘bet sheets’ representing the horses upon which bets were placed, but put the money into his personal bank account instead.

The syndicate collapsed in December 2013 when punters wanted to cash out.

Prosecutors expect about 68 victims will provide statements to the court detailing the effect the scam has had on their lives.

Vlahos’s bail was extended until a two-day pre-sentence hearing starting on February 4 before Judge Douglas Trapnell.

His lawyer said his former high-flying client was now broke and did not have the means to be considered a flight risk.


That being the case the creditors won't get anything ...seeing he is impecunious a fine is out of the question the massive fraud has ended in tears.

Pentridge isn't a holiday home nor is Barwon prison.

Giddy Up :beer:

Offline Arsenal

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« 2019-Oct-01, 09:58 AM Reply #211 »
Punt club fraudster does deal
RACING conman Bill Vlahos has pleaded guilty to charges over his $150 million punting club fraud.

Vlahos pleaded guilty to two charges in Victoria’s County Court yesterday after striking a plea deal following lengthy and ongoing discussions between his legal team and prosecutors.

Vlahos was charged with more than 300 offences, but pleaded guilty to two of obtaining financial advantage by deception to the value of just $17.5 million.

Judge Douglas Trapnell flagged jailing Vlahos yesterday, but agreed to extend his bail until a pre-sentence hearing in February.
The move was not opposed by prosecutors.
But Judge Trapnell said that Vlahos wouldn’t be able to stay out of jail long, saying that a term of imprisonment was the inevitable sentence.

The collapse of Vlahos’ punting club in December 2013 was one of the biggest scandals in racing history.
He was due to face nine separate trials, with the first of them expected to start last week.
In total, the back-to-back trials were scheduled to last more than six months.
Vlahos was charged with more than 300 offences in 2016 after a police investigation into his punting club activities.

He'll get a discount for pleading guilty to the reduced number of charges theonly question is how much time would he be looking at .......about 7 years would be my guess certainly not just  a slap on the wrist and a couple of years in a rest home .

Giddy Up

Offline Arsenal

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« 2020-Feb-06, 09:56 AM Reply #212 »
Racing fraudster’s plea ‘to save the court time’
BILL Vlahos built an elaborate betting system for horse racing and it was all a multimilliondollar lie.
The Melbourne racing identity, 54, used fake betting and results sheets, and even invented an international betting expert called “Max” to make sure his 71 victims kept handing over money.
From 2008 until 2013, they thought they were making “spectacular” returns through his punting club The Edge.
Instead he spent the money on business-class flights, credit cards, luxury accommodation and cars, a jacuzzi and other failing business ventures.
The fraudster covered his tracks by pairing his fake figures and manufactured results with actual races and legitimate race information, as well as falsifying bank documents.
The sham collapsed in 2013 before Vlahos was hit with 347 charges totalling more than $120 million in fraudulently obtained funds.
He eventually cut a plea deal and last year admitted to two counts of obtaining financial advantage by deception worth $17,520,225.
His lawyer Justin Wheelahan yesterday emphasised Vlahos had saved the court significant time by confessing.
Vlahos’ plea hearing is expected to continue today.

Giddy Up :beer: