Around 600 Yarrawonga people are believed to have been caught up in the collapse of a punters club that saw local members lose up to $73 million.December 10, 2013 4:08pm
The collapse, as reported in a metropolitan newspaper this week, suggests the club had up to 1000 members and, with 600 of those allegedly based locally, names Yarrawonga as the “epicentre” of the secret club.
According to newspaper reports, the architect of the punters club was Melbourne identity and gambling guru Bill Vlahos.
Mr Vlahos, who is reportedly being chased for millions in lost money by members of the punters club, received death threats after he appeared in a NSW court last week and was the victim of an assault and car bombing on the weekend.
The club involved backing horses in Melbourne and Sydney each Saturday, laying bets through an overseas conduit, who promised higher returns than Australian bookmakers.
It is believed the club relied on up to 20 syndicate chiefs who in turn recruited their own members.
Local high profile racing identities Alan and Matt Tripp were contacted by the Chronicle about the fall of the punters club.
Alan and Matt confirmed they were not at all associated with the punters club.
Matt said he had always recommended people do not get involved with such syndicates that promise big returns.
“I feel for the people who got involved,” Matt said.
“I hope those affected will find an outcome soon.”
Speculation the betting syndicate may have had links with the Yarrawonga Football Club was denied by President Glenn Brear who said the club had no involvement.
“It is ludicrous to think the club is in anyway involved. The club has had no involvement in this punters club in the past, present or future,” he said.
Budding Kyabram actor Taylor Smith Morvell is one of 20 Victorian students chosen to perform his Year 12 theatre studies monologue in Melbourne next week.
The Yarrawonga and District Cemetery Trust has been awarded a $50,000 grant from the Department of Health to undertake development work at the Yarrawonga cemetery.
Members of Murchison Book Club are hosting a literary lunch with Vivien Achia, author of Marrying Italian — When Love is Not Enough.
A man has been taken to Echuca hospital after being trapped for several minutes in his vehicle.
Steve Glassborow has returned for a twentieth year, bringing a range of his bronze sculptures.
Tongala family hopes for transplant call for six-year-old.
Family of former Seymour man killed in a road crash in Los Angeles before Christmas set up a Melbourne University scholarship in his honour.
Tocumwal's Don Elgin is aiming to compete at the 2014 Commonwealth Games in Scotland
Leitchville-Gunbower at home was too strong for Heathcote’s senior footballers in their first Good Friday clash.
Huge crowds turned out for Cobram Barooga's River Beaches Festival, which featured a special splash for 2000 rubber ducks.
South West Arts ArtOut will be held again in 2015 after last weekend's inaugural success.
Murray Goulburn has lifted its milk prices to about $6.66 kg milk solids.
Benalla's Kevin Harper will be honoured in the motorcade lap of honour at Melbourne Cricket Ground tomorrow for his service during the Korean War.
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