|
London Financial
Advisor Caught in Online Casino Scandal
Sept. 13-06
Gambling addiction has claimed another victim. Philip Smith, a 48
year financial advisory, has been stealing money from his clients
in order to fuel his habit. Mr. Smith has been blowing his money
on online casino games and with no regards for the well fare of
the clients who trusted him with their money.
Smith has plead guilty to accusations of theft, false accounting
and forgery. The former financial advisory quickly shifted gears
to become a viscous con artists. No one was safe from the Smiths
shrewd hand.
His
victims ranged from an individual with severe learning
disabilities, a woman who was stricken by illness, and
members of his own family.
Mr.
Smith used the money he extracted from his unaware victims to
lavish him self with luxury items and feed an online casino habit.
Smith, when arrested, had been living in a house worth £550,000.
He was reported to have in his estate a Villa in Spain, a Chalet
in North Whales, and a BMW to take him from home to extravagant
home in style.
Rather than appearing in court, Smith decided to plead guilty to
the charges brought up against him and confess to his casino
addiction. His false accounting has caused an accumulated lost of
about £2.3 million. Police, after investigation, have estimated
£900,000 of that being used toward online casino debts.
Some of the money was able to be returned to the victims and
despite Smiths dishonesty police believe that there are no assets
that have not been accounted for in this case. Any of the money
that has is not in Smiths possession either pounds or in objects,
the investigators believe has been squandered away.
With over 51 victims effected by Smith's online casino activity
and some them over a period of 15 years, the amount of damage
caused may be most likely irreversible. Smiths final sentence has
not yet been determined.
-Current
Online Casino News-
-September
News-
|
