Bill Vlahos facing 300 charges over corrupt punting scheme
Bill Vlahos is facing more than 300 charges from the Victoria Police Fraud Squad after allegedly stealing $129 million.
Vlahos was arressted after it was alleged he was involved in the massive collapse of racing syndicate BC3 Thoroughbreds.
Fraud and Extortion Squad detectives investigated a so-called punting club and arrested the high-profile racing identity.
BC3 Thoroughbreds collapsed after $194 million went missing from a bank account in 2013 and went into voluntary administration shortly after Mr Vlahos resigned from his position as chair.
Breaking: Bill Vlahos facing more than 300 charges from Vic Pol Fraud Squad over The Edge punting scheme $129 million alleged stolen
— Michael Felgate (@MFelgate7) November 9, 2016
Police have confirmed a 50-year-old man was released pending summons after being questioned on Friday afternoon but would not confirm he was Mr Vlahos.
BILL VLAHOS' SHADY PAST:
- Declared bankruptcy in December 2013.
- Ordered to front a 2014 Stewards Victoria inquiry into BC3 Thoroughbreds but his lawyers said he was unable to give evidence.
- Barred from attending race meetings and betting on thoroughbred racing pending an inquiry into the purchase of Black Caviar's half brother.
- Charged by stewards with two counts of dishonest, corrupt, fraudulent, improper or dishonourable action or practice in connection with racing.
