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
