Skip to main content

today's Vlahos/Ponzi/BC3 update

Another day, another roundup of the Vlahos debacle...

Racing identity Bill Vlahos' emails reveal fear of attack, and warn of club collapse

It seems Billy has had troubling paying out for many months, since the start of 2013. Apparently this came from boasting about exorbitant returns (46% profit) in the last quarter of 2012. Rather than serving as a great advertisement to the scheme to bring in more members, all it did was encourage existing members to start enjoying the benefits of their new-found wealth, thus creating a major cash flow problem for the fund. And then the slow pay went on, and on, and on, throughout the year. One of his many excuses was they were now 'having difficulty placing their bets' and 'big mouths have made it hard for us again'. No wonder he moved to Singapore for several months - in a top end luxury hotel no less!

Then Billy got desperate, the ego couldn't be stopped. He had to find the missing money, so he was in discussions with a Michigan-based funding group for a loan of around US$178m. This just sounded like a massive sum of money when I first read that article, but listening to Andrew Rule's interview on RSN Sports Radio this morning...lo and behold, what does US$178m equate to? Something very close to AU$194m... now where have we seen that number before...? The Michigan firm will be thanking their lucky stars they didn't press the button on that loan. If it was due diligence that halted the deal, then those guys should be rewarded with massive bonuses - their firm probably would have gone bust without it...

By November 20, i.e. the end of the spring carnival, there was nothing left to salvage, hence the ''I WANT THIS TO BE OVER,'' he told club members in an emotional email.

----

Once upon a time I was very active on internet forums, now I just do it all on Twitter. Unfortunately that meant I missed a thread like this:

The Edge

Some punters on that thread can hold their heads high, others will look back and cringe at their own naivety.

------

Fraud squad detectives are now getting involved, and very interested in whether Vlahos has been destroying evidence.

Vlahos gets police 'please explain' over bashing and missing $194m

According to News Ltd journalist Andrew Rule, there are some long-serving policemen who have been stung as investors - do you reckon they might go that extra yard to crucify him?

------

The town of Yarrawonga will suffer the effects of this for a long, long time. Not only having lost so much money, but also having most of the nation look at them as "Australia's Most Gullible". Footy clubs now have to make public statements to deny involvement...

Yarrawonga Pigeons distance themselves from Vlahos' failed syndicate

------

What about the horses a few people have asked? Inglis have removed at least eight horses from the BC3 Connewarre property. Inglis CEO Mark Webster said it wasn't about reclaiming unpaid thoroughbreds but in concern for their welfare. Debts for yearlings are not uncommon, the sales firm holds the registration papers for each horse until such time as they are fully paid for, so there was no chance of 'Jimmy' running in a race or official trial or even being named before that took place. Whether 'Jimmy' is part of that group of horses, or even his current health is unknown.

Comments

  1. Is it true BC3 tried to poison Jimmy to claim the insurance money?

    ReplyDelete
    Replies
    1. Don't know for certain yet Zepp, but my market would have it odds-on....

      Delete

Post a Comment

Thanks for your comments, but if you're a spammer, you've just wasted your time - it won't get posted.

Popular posts from this blog

It's all gone Pete Tong at Betfair!

The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur

What shits me about match-fixing 'journalism'.

The anti-wagering media bandwagon has dozens of new members this week, all weighing in an industry they have absolutely no idea about. I'm all for getting the betting industry into the mainstream but it shits me no end when they roll out reports and celebrities who simply don't have a clue what they are talking about and don't bother to check basic facts which key arguments in their story. If this was the financial industry, making errors like this would have them in all sorts of trouble, but the same level of regulation doesn't apply because finance stock markets are supposedly all legitimate and serious, whereas sports betting is just a bit of fun for people who can never win in the long-term... according to the media. This week we have seen the sting by the Telegraph which, on the face of it, looks to be a tremendous piece of investigative work into fixing in English football. But the headlines around it are over-sensationalised yet again. Delroy Facey, a former pla

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...