Australian betting operators face lawsuit over stolen millions gambled by VIP client

A case filed by convicted financial planner Gavin Fineff seeks to force three operators to return millions in funds that he stole from clients.

Australia.- A landmark legal battle is unfolding in Australia after former financial planner Gavin Fineff sued Sportsbet, Tabcorp and Entain in a bid to recover more than AU$4m (US$2,6m) that he gambled using money stolen from clients.

Fineff, who is serving a nine-year prison sentence for defrauding clients, argues that the operators encouraged his betting, ignored red flags and breached their obligations under anti-money laundering rules by failing to verify the source of his funds.

Fineff’s claim also targets two former VIP customer managers who allegedly enticed him to bet again after periods of inactivity, offering inducements such as bonus bets, deposit matches and hospitality perks. BetEasy and Ladbrokes, now part of Sportsbet and Entain, respectively, were previously fined for failing to detect problem gambling indicators in Fineff’s account activity.

The case is putting VIP systems in the limelight. Critics say the structures discourage intervention when gamblers show signs of harm. While Sportsbet and Tabcorp have since abandoned commission-based remuneration, Entain has not publicly addressed the issue.

Barrister Geoffrey Watson SC, who has advised Fineff’s legal team, said the case has the potential to transform industry practices. He argues that operators “preyed upon” Fineff’s vulnerability despite indicators of compulsive gambling.

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A case filed by convicted financial planner Gavin Fineff seeks to force three operators to return millions in funds that he stole from clients. Australia.- A landmark legal battle is…