Peter Foster commits multi-million-dollar sports betting scam

Australia: Sports Betting Cheat Peter Foster Behind Bars

Australia’s police arrested fraudster, Peter Foster on Tuesday. The 59-year-old had been on the run since May this year after facing charges and prison for a multi-million-dollar sports betting scam, among other things. He allegedly conned a Hong Kong gambler out of bitcoins, then worth US$1.2 million.

Officers discovered Foster on a farm in a rural area north of Melbourne. He had been living there with an unnamed man.

Nigel Ryan of the Victoria Federal Police said the suspect had made an unsuccessful attempt to escape before being apprehended:

Mr. Foster did attempt to flee the building but was quickly apprehended.

According to current knowledge, Foster had been in the house. He had been living there quite comfortably with the other man. It is currently being investigated to what extent the other man was involved in Foster’s escape.

Accused of Spectacular Sports Betting Fraud

Among other things, Foster is accused of spectacular sports betting fraud. He is alleged to have defrauded a betting customer from Hong Kong of millions in stakes in 2019 and 2020.

He had pretended to place bets for his victim after receiving over 100 bitcoins from him. However, his accusers said he diverted the funds to his accounts instead of adequately placing the bets.

Foster appeared to be in poor health when he was arrested. He had therefore been taken to hospital as a precaution. The authorities, however, left no doubt that the conman would be awaiting the holding cell after treatment.

The End of a Six-Month Escape

The new arrest was preceded by a six-month escape from the professional criminal. He had been arrested in August last year on a warrant for sports betting fraud. In the spectacular operation in the North Australian coastal town of Port Douglas, plainclothes officers had taken Foster by surprise during a walk on the beach.

In addition to the sports betting scam, Foster is charged with several other offenses.

In total, he is facing charges on 15 counts. The financial damage to his victims runs into millions, prosecutors say.

At the bail hearing at the time, the judge in charge had made it clear to the delinquent that another breach of bail conditions would mean that he had little chance of being rereleased before trial. Foster responded at the time that he understood this.

However, this statement did not stop the fraudster from staying away from the trial in a Sydney court a few months later. Shortly afterward, officers at his registration address discovered that Foster had also breached his house arrest condition and deactivated his electronic ankle bracelet.

Conclusion: He is on the Wanted List

As a result, the Crown Prosecution Service again put him on the wanted list. After his current arrest, the serial fraudster will have to remain in prison until further notice. His chances of being released on bail are likely to be close to zero after his recent misdemeanors.