{"id":269,"date":"2024-03-08T20:50:52","date_gmt":"2024-03-08T21:50:52","guid":{"rendered":"http:\/\/www.zeikin.me\/?p=269"},"modified":"2024-03-11T11:36:44","modified_gmt":"2024-03-11T11:36:44","slug":"former-uk-cop-admits-orchestrating-4m-betting-syndicate-ponzi","status":"publish","type":"post","link":"http:\/\/www.zeikin.me\/index.php\/2024\/03\/08\/former-uk-cop-admits-orchestrating-4m-betting-syndicate-ponzi\/","title":{"rendered":"Former UK Cop Admits Orchestrating \u00a34M Betting Syndicate Ponzi"},"content":{"rendered":"

A British former police officer has pleaded guilty to five charges related to the running of a \u201cPonzi scheme\u201d horse-betting syndicate that defrauded investors of millions.<\/p>\n

\"Michael
Michael Stanley, above, arriving at a courtroom in Sevenoaks, England, to plead guilty to a \u201cmassive fraud.\u201d This involved convincing investors in his betting syndicate he could win them easy money by betting on horses to lose. (Image: Press Association)<\/figcaption><\/figure>\n

Michael Stanley, 67, was once a sergeant for Kent Police. But from 2012 to 2019, he operated the Layezy Racing Group, which promised investors big returns thanks to his \u201cwinning betting system.\u201d<\/p>\n

Stanley marketed the syndicate as \u201cvirtually risk free,\u201d according to prosecutors. The Layezy Racing Group attracted around \u00a344 million in investment from thousands of people. An estimated \u00a334 million was paid back to earlier investors in the manner of a Ponzi scheme<\/a>. leaving a shortfall of about \u00a310 million.<\/p>\n

\u2018Holy Grail\u2019<\/strong><\/h2>\n

Stanley said his system involved laying horses to lose via betting exchanges<\/a>. In an email to a potential investor, he admitted to feeling \u201crather smug\u201d because he knew he had \u201cfound a missing link, my holy grail, that is a winning system.\u201d<\/p>\n

\u201cI have now worked out that the definite way of beating the bookies is to become one!\u201d he added.<\/p>\n

\n

Layezy has developed a method of betting with a small advantage after recording and analyzing thousands of races, and there are limited places available for new members,\u201d he lied in another marketing email.<\/strong><\/p>\n<\/blockquote>\n

Stanley claimed that his system gave him an 8.17% advantage in the betting markets, adding that sports wagering companies like William Hill, Ladbrokes, and Corals [sic] work on an 8% margin.<\/p>\n

\u201cSo if you want to know what you are investing in, imagine you are a major shareholder in one of them. That\u2019s pretty exciting, isn\u2019t it?\u201d he asked.<\/p>\n

Lousy Gambler<\/strong><\/h2>\n

It is true that a very tiny percentage of gamblers could turn a long-term profit in the way Stanley is describing. The problem was, Stanley wasn\u2019t one of them.<\/p>\n

In fact, in the last few years of the operation, he had given up on laying bets completely, according to a 2019 Daily Mail<\/em> investigation.<\/p>\n

Stanley was arrested by his former colleagues at Kent Police in August 2019. He was subsequently charged with dishonestly making false representations to members of the Layezy Racing Syndicate and four counts knowingly running a business for a fraudulent purpose.<\/p>\n

The ex-cop pleaded guilty to all five offences at a court in Sevenoaks, Kent on Thursday. He will be sentenced at a later date.<\/p>\n

The post Former UK Cop Admits Orchestrating \u00a34M Betting Syndicate Ponzi<\/a> appeared first on Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

A British former police officer has pleaded guilty to five charges related to the running…<\/p>\n","protected":false},"author":1,"featured_media":271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[],"_links":{"self":[{"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/posts\/269"}],"collection":[{"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/comments?post=269"}],"version-history":[{"count":2,"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/posts\/269\/revisions"}],"predecessor-version":[{"id":272,"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/posts\/269\/revisions\/272"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/media\/271"}],"wp:attachment":[{"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/media?parent=269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/categories?post=269"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.zeikin.me\/index.php\/wp-json\/wp\/v2\/tags?post=269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}