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nov
27

The Search for Aussie Con Man Peter Foster's Hidden Millions

Tags: Peter Foster, scam.
Posted on Friday, November 27, 2015 by "T".

Australian con man Peter Clarence Foster, 53, according to The Courier Mail, is currently suspected of hiding away some gold he purchased using the cash he got from an alleged sportsbetting scam.

Just this Friday, the Supreme Court in Sydney passed a class action suit against Mr. Foster and his involvement in the online betting company named "The Sports Trading Club".

A private investigator who represents the victims named Ken Gamble reported that there were a total of 320 people who had invested a sum of $23 million into the big-time scam.

However, the lawsuit was filed by only 160 people (just half of the total number of victims), who were irately demanding to get back the $10.5 million that they had invested into the club.

A great chunk of the money is still reported to be missing, and Mr. Gamble believes that "Foster has purchased a huge quantity of gold bullion from the funds coming from the club investors", as implied by a news source.

In October 2014, after spending a whole year running away from the police, Mr. Foster was finally arrested in Byron Bay, New South Wales. On that particular time, he was found guilty of contempt due to him ignoring a ban implemented in 2005, which actually prevented him from becoming involved in the $6-million oral diet spray scam.
During his arrest in Byron Bay, police got a hold of information that Mr. Foster co-founded The Sports Trading Club while he was in hiding.

Mr. Gamble stated to The Courier Mail that "Foster, going by the alias Mark Hughes, lied to the investors that the club made a 1,350% profit in just 18 months with the help of talented savants to predict the winners". That huge percentage in profit had obviously lured and won the investors over, who have abruptly shelled out between amounts of $50K to $250K each.
Back in October 2014, Mr. Foster had pleaded for an early release from the Brisbane Correctional Center, for safety reasons.

As of now, Mr. Foster is serving an 18-month sentence as punishment from his involvement with his weight loss scam.

source: calvinayre.com


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4 comments for "The Search for Aussie Con Man Peter Foster''s Hidden Millions"

 Cruimh11/27/2015 8:34:19 PM GMT
Ah - Friend at one time of Samantha Fox and later Cherie Blair ....
 klash2311/28/2015 3:37:30 PM GMT
This guy seems to have been involved in a different kind of scam for pretty much all of his life and I don't know why these kinds of people are never locked away for longer....could it be money talks?even if you stole it in the first place.
 Theapple11/30/2015 10:13:41 PM GMT
just $23 millions? its not that much money afterall. yeah it would make a decent starting bankroll though but thats about it (: plus he got 18 months sentence too, think that should be enough of a punishment already :o
 bowie198412/1/2015 2:20:26 AM GMT
A private investigator who represents the victims named Ken Gamble reported that there were a total of 320 people who had invested a sum of $23 million into the big-time scam.
It's pretty effin funny if this guys name is really Gamble...
Also every 'investor' should take a long deep look into themselves first.

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