Melbourne racing identity Bill Vlahos pleads guilty to defrauding betting clients

Melbourne racing identity Bill Vlahos has pleaded guilty to defrauding betting clients of more than $17.5 million between 2008 and 2013.

The 54-year-old admitted to two charges of dishonestly obtaining a financial advantage by transferring millions paid by his punting club investors to his personal account.

The County Court of Victoria heard 68 clients were caught up in the scam.

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Article wrirtten by: Karen Percy