Skip to main content

Another 'sports investment fund' scam hits the press

This one has been highlighted on Twitter a few times, finally it has made the press.

The Proton Investment Fund, utter fantasy stuff.







Online gambling syndicate tries to recruit sports stars including AFL, NRL players, jockeys

A GAMBLING syndicate that bets on the AFL and has tried to recruit players as members is under investigation.

The Sydney-based Proton Trading Fund claims to have a $10 million pool to bet on the AFL, cricket, and horse racing on local Betfair exchanges and international markets.

The trading fund has been seeking to recruit elite athletes, including AFL and NRL players and jockeys, to join the scheme, raising concerns about the potential for match or race fixing.

Racing Integrity Commissioner Sal Perna has written a letter to the AFL, alerting it to the scheme.

The AFL declined to comment when contacted by the Herald Sun but sources close to the league said they had looked into the operation.

... The fund, which was advertised through an Instagram ­account, sought investments of up to $250,000, claiming it was capped at $10 million.

The @pro.punter account has since been closed.



It's not the links to professional sportsmen they should be concerned about, it's the fact it is a complete scam! But either the authorities don't care about that, or there aren't any laws to prosecute the fund organisers for. Have they even charged Bill Vlahos for anything yet?? It seems as if so long as it relates to gambling, you can do whatever you like. If it was a share market fund, they'd be cuffed within days.

Numerous current and former AFL players were being roped in via the Instagram account (shouldn't the mere fact a get-rich-quick scheme is being advertised by Instagram ring enormous alarm bells??), whether any of them actually stumped up the cash is unknown, but if you've ever seen the brilliant ESPN 30 for 30 documentary Broke, and you realise most of these players are destined to become professional athletes early in high school, it's not surprising they can't work these things out for themselves.

In case you were wondering, it is extremely easy to doctor those screenshots via browser extensions these days. You don't even need Photoshop. Fluctuations to create 'profits' like that pre-match for cricket are impossible.

Comments

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

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...

hope for investors in the Centaur scandal?

In a breaking story, it has been reported that directors of the failed sports investment fund Centaur have had their assets frozen in order to repay investors. It is believed that managing director Keith Sobey skipped town trying to avoid prosecution however he either naively thought Ireland was a safe enough place to hide or had a lingering feeling of guilt and sat waiting for that knock on the door. Sobey, the name behind Centaur ( read the original story here ), is believed to own four houses, worth more in total than the missing £1.6m. His willingness to sell them to repay investors is likely to keep the matter out of the courts, and at least one other director, Andrew Cork, will apparently follow suit. All this adds weight to anecdotal evidence that the collapse of the fund came down to mismanagement rather than fraudulent deeds. As costs grew (why would you set up a training academy in central London?), margins evaporated and keeping the business afloat went through money like