Pastor, 3 Men Charged in Online Gambling Scheme

Written by:
Jagajeet Chiba
Published on:
Jan/11/2010

A one time Evangelist pastor and three other men were charged for running an elaborate $10 million online gambling scheme on Monday.

The arrests come 11 months after a raid of the Gold Coast offices of Alan Davenport for allegedly bilking investors out of $10 million on a "sports arbitrage" scheme.  Davenport, once a pastor for the now defunct Reach Out for Christ Pentecostal church, ran the online gambling enterprise from his Australian home under the name World Trade Systems (WTS).

According to the Courier Mail, customers were offered "guaranteed" wins by spreading their bets on all possible outcomes with different bookmakers.

WTS investors allegedly were offered a low-risk and tax-free income and invested an average of $20,000 to $80,000 in the scheme.

WTS offered investors a "100 per cent money-back guarantee" and its website proclaimed it was "impossible to lose your money with WTS".

Alleged victims included a Gold Coast pensioner who said he had invested almost $50,000 in the scheme.

Detective Inspector Marc Hogan, of Surfers Paradise CIB, said that the $10 million has yet to be found and the investigation is ongoing.

"The State Crime Operations Fraud and Corporate Crime Group assisted in this investigation and will continue to provide further specialised support," he said.

Jagajeet Chiba, Gambling911.com 

Gambling News

Sports Betting Personality Files Suit Against Deadspin

Sports Betting Personality Files Suit Against Deadspin

Bell filed a $10 million defamation lawsuit against Deadspin parent company Gizmodo Media Group last week.

Supreme Court Agrees to Hear NJ Sports Betting Matter

Supreme Court Agrees to Hear NJ Sports Betting Matter

The Supreme Court will take up New Jersey’s bid to allow sports betting at its casinos and racetracks.

100-Year-Old Mobster Released From Prison

100 Year Old Mobster Leaves Prison

Former Colombo family underboss John (Sonny) Franzese has been released from prison at the ripe old age of 100.  It was his first full day of freedom in eight years.

Cyprus to Build Europe’s Largest Casino

Cyprus to Build Europe’s Largest Casino

Cyprus signed a deal Monday for the construction of what officials say will be Europe's biggest casino.

Crown Casino Employees Sentenced to Six Months Prison

Crown Casino Employees Sentenced to Six Months Prison

Three Australian employees of Crown Resorts could be released from a Chinese jail within months after being handed nine and 10-month sentences for gambling related offences in a Shanghai court.

Syndicate