A disgraced Australian businessman has pled guilty to a Ponzi scheme that victimized more than 100 investors and resulted in the loss of as much as $96 million.
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The Story
Bill Vlahos, the founder of horserace betting system The Edge, has pleaded guilty to a Ponzi scheme that resulted in 374 different charges and the loss of as much as $96 million from unwitting investors. Vlahos ran the illegal scheme from 2008 to 2013, bilking hundreds of investors out of their money. The Edge promised 25% annual rates of return and Vlahos was able to dupe investors by showing them false results sheets that showed how much he was winning. To get his guilty plea, he weaseled his way down to a reduced number of charges and acknowledgement of fraud worth $11.8 million, not the $81 million prosecutors initially wanted. As if to add insult to injury, Vlahos’ lawyers said the former multimillionaire is now penniless.
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In a global economy that has gone disconcertingly calm, 888’s casino and sports segments continue to pack on serious weight.
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The shoe company announced it is working with the Cardano blockchain to develop an authentication system that will help determine buyers if their shoes are the real deal.
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The second edition of CasinoBeats Malta will take place at Intercontinental Malta in St Julian’s on March 25-26, 2020, offering high-quality content and networking opportunities.
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Congratulations to Philippe Guillou for winning the Winamax Poker Open Dublin Main Event! Guillou won the €70,000 first prize after beating 1,389 players.
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Never let success get to your head 
