A man has been charged following an investigation into a fraudulent betting syndicate allegedly operating out of the state’s central-west.
In March 2020, detectives from the Organised Crime Squad’s Casino and Racing Investigation Unit (CRIU) established Strike Force Elaroo, to investigate allegations of large-scale fraud through a ‘punter’s club’ style betting syndicate.
Following extensive inquiries, strike force investigators arrested a 53-year-old man at a home at Mudgee about 1.30pm yesterday (Wednesday 13 May 2020).
A search warrant was executed at the property, where officers seized computers, phones and documents.
The man was taken to Mudgee Police Station, where he was charged with nine counts of dishonestly obtain financial advantage by deception.
Police will allege in court that the man had been accepting money from individuals to invest in a betting syndicate based on horse racing since December 2018, and when he allegedly failed to pay out guaranteed return dividends and ignored requests to repay initial investments totalling $210,000, the matter was reported to police.
The man was refused bail to appear via video link at Dubbo Local Court today (Thursday 14 May 2020).
Investigations under Strike Force Elaroo are continuing.
Anyone with information that may assist Strike Force Elaroo investigators is urged to contact Crime Stoppers: 1800 333 000 or https://nsw.crimestoppers.com.au. Information is treated in strict confidence.