Melbourne racing identity Bill Vlahos pleads guilty to defrauding betting clients
Fallen Victorian racing identity Bill Vlahos has admitted to defrauding punters of almost
$18 million across five years in a complex betting fraud.
The 54-year-old pleaded guilty in the County Court yesterday to two charges
of obtaining financial advantage by deception between 2008 and 2013.
Vlahos was initially charged with more than 350 offences but prosecutors withdrew
multiple counts of obtaining financial advantage by deception and
one count of attempting to destroy documents to be used as evidence.
This meant a reduction in the amount of money he was accused of scamming from
$120 million to $17,520,225.
The syndicate collapsed in December 2013 when punters wanted to cash out. Vlahos’s bail
was extended until a two-day pre-sentence hearing starting on February 4 before Judge