![]() ![]() is not a member of a partnership or occupies a position of authority* with a body corporate that holds a bookmakers’ licence.(In regard to partnerships and body corporates at least one member of the partnership or at least one director of the body corporate must meet this requirement) has knowledge of the business of bookmaking and the obligations of a bookmaker under the Act.In determining the grant of a bookmaker’s licence, the Gaming and Wagering Commission must be satisfied that the applicant: SportsAlive was in late 2008 looking for investors and eventually ended up receiving $ 5 million from TOTE Tasmania, while other bookmakers that may have been for sale at the time for a price in the $ 5-15 million range, according to sources familiar with the Australian market, include Betchoice and Betezy.Section 11 of the Betting Control Act 1954 allows for the licensing of a natural person, partnership or body corporate to undertake bookmaking activities by the Gaming and Wagering Commission of Western Australia. The merchant bank from its offices in Sydney certainly had experience within the gambling industry as for many years the company was the financial advisor to Ainsworth Game Technology, a leading manufacturer of slot machines, but we were not able to discover whether they ever tried to intermediate the sale of any Australian bookmaker.Īt the time Tony Morris allegedly tried to acquire an online bookmaker, International All Sports sold Canbet to a BVI company under the control of members of the Read family, a deal that eventually permitted Paddy Power to complete the acquisition of IASbet. ![]() Looking for possible connections with Australian bookmakers, I discovered that Pitt Capital Partners is an Australian merchant bank, part of the WHSP group controlled by the Millner family. The £30m taken in the summer of 2007 were transferred to Fareston, a company registered in the British Virgin Islands that invested in the Thailand luxury resort and to acquire a pizza parlour.īut it is from the second tranche of almost £22m taken in April 2008 and transferred to another BVI company, Multiple Unilateral Financial Futures (MUFF), that Morris is said to have planned to buy an Australian-based online bookmaker, before that deal fell through.Ī company close to financial advisor Peter Malmstrom, who is said to have laundered millions taken from the GP Noble pension schemes, received £4m from Multiple Unilateral Financial Futures, in a loan agreement structured by Pitt Capital Partners. Fund manager that syphoned tens of millions out of nine pension schemes allegedly attempted to acquire an Australian online bookmaker.ĭuring the trial of Tony Morris, the founding director of The Money Portal and pension funds manager for GP Noble accused together with a number of his associates to have stolen £52m, it was revealed that Morris used the cash belonging to the pension schemes to fund a lavish lifestyle as well as to invest in a number of businesses including a luxury resort on the island of Koh Samui in Thailand, the financing of a Hollywood movie project and the acquisition of an Australian online bookmaker.īookmakers Review investigated to discover which Australian online bookmaker Morris tried to buy with the stolen funds.Īccording to court papers, the alleged theft of £52m from nine pension schemes managed by GP Noble happened in two tranches: £30m was taken in August 2007 and £22m in April 2008.
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