Financial Advisor Scams Clients to Fund Gambling Habit

A financial advisor from Perth has been accused of ripping off his clients to fund his out of control gambling habit. The man stole an estimated AUD 948,236.96 from a number of clients, and used the money to play casino games. The man made his first appearance in the Joondalup Magistrates Court earlier this week.

They say that the 38-year-old Mark Sebo misappropriated the money without the clients’ consent. The financial advisor would steal the money and then transfer it into his personal online gambling accounts. The magistrate at Joondalup Court says his case as a serious offense and that the case be heard in the highest possible court.

Accused Financial Advisor NZ

The Australian Securities and Investments Commission (ASIC) has since banned the financial advisor from using his professional license. Furthermore, bail conditions state that he’s not to give financial advice to anyone. Sebo is also not to contact the clients he has stolen money from. They gave him bail following a AUD $50 000 surety by his mother who was also in court as witness to the trail.

Financial Advisor Another Problem Gambler?

Gambling is a common form of entertainment for many Australians, and millions of others in New Zealand and globally. Statistics show that 80 percent of Australian adults engage in some sort of gambling. This statistic is also the highest recorded rate of gambling in the world. Many of these players show signs of problem gambling which is a contentious issue in the country. The financial advisor who stole nearly $1 million dollars from his clients, falls well within this category.

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Six Male Gamblers Arrested for Match Fixing in AU

Male gamblers aged 19 to 22 from Victoria and Western Australia were arrested on charges of engaging in conduct that corrupts a betting outcome earlier this month. The male gamblers collectively planned to lose their own matches in an online Counter-Strike: Global Offensive tournament and then betting on the outcome of those select matches. This gave them the added advantage of knowing the outcome of those matches and then betting accordingly which paid in their favor.

The arrests follow an investigation into suspicious betting activity by the Australian police force which began in March this year. A tip-off from an anonymous betting company prompted the initial investigation. The male gamblers face up to ten years imprisonment but have since been released pending further inquiries. The Victorian police force, together with detectives and betting companies including Sportsbet, continue to work on the case. It is unclear when the trial will begin.

Six Male Gamblers Arrested in OZ

Assistant Commissioner Neil Paterson encouraged anyone with information about the current case, or other similar cases, to come forward. Furthermore, he said the recent arrests of the six male gamblers should be a warning, and that activity like this is a criminal offense and will be dealt with accordingly.

Details of Male Gamblers Arrests

The Victorian police force suspects that the male gamblers had placed 20 bets over five matches before anyone was aware of corrupt activity. The value of the 20 bets is unknown. The first set of arrests were made on Wednesday 21 August in Victoria where detectives from the sporting integrity intelligence unit as well as the organized crime intelligence unit cuffed two 20-year olds, one 22-year-old and another 19-year-old. The other two male gamblers were arrested that Friday, both 20-year olds.

More on Counter Strike: Global Offensive

Counter Strike: Global Offensive, CS: GO for short, is a popular online tournament game that requires a first-person shooter. During the tournament, two teams of terrorists and counter-terrorists contend against each other for the top spot.

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New Online SkyCity Casino Reveal

A new online SkyCity Casino is now open to kiwi players. SkyCity Entertainment Group has officially entered the online space with its new online gaming site called skycitycasino.com. SkyCity Casino is based in Auckland, New Zealand, but its online version is operated by the company’s subsidiary company- SkyCity Malta Limited based in Malta, Europe. SkyCity Malta is in partnership with Gaming Innovation Group (GiG). The two companies will run the online casino together.

News of a possible online launch was first announced in May, when SkyCity Casino revealed its plans to provide New Zealanders with an offshore web-based casino platform with the help GiG. The months that followed was spent preparing for the official launch of the new online SkyCity Casino which happened earlier this month.

Commenting on the launch of the new online SkyCity Casino, the company’s CEO, Graeme Stephens said that the new online SkyCity Casino is just one more step taken toward the company’s quest to finding more opportunity to grow, creating new streams of revenue and reacting to the new digitized world. He added that the internet casino is meant to compliment the activities of its land-based establishments while offering customers “a multi-channel gaming experience”.

GiG’s partnership with SkyCity Malta comes with the benefit of a full suite online casino solution that provides for gaming content, frontend development, as well as a technical platform. Skycitycasino.com is managed by Steve Salmon, an online director based in Europe.

New Online SkyCity Casino NZ

New Online SkyCity Casino to Act Responsibly

Founders of the new online SkyCity Casino says they believe in regulating the online casino market in the country. The company’s efforts in making this happen includes developing a licensing regime for its operators as well as imposing a tax amount and other compulsory host responsibility requirements. The current law in New Zealand states that only Lotto and TAB games owned by the government are allowed to offer its customers an online platform that operates in the country itself. But, many kiwis freely enjoy internet casinos from outside of the country. Stephens also said that the new online SkyCity Casino will make every effort to abide by New Zealand GST laws.

2019 New Online SkyCity Casino NZ

Why the Move to Web-based Services?

SkyCity Casino says Kiwis spend about $160 million on online gambling activity which is provided by overseas platforms. Statistics by The Department of Internal Affairs show that between 2015 and 2017, internet gambling expenditure has increased from $132 million in 2015, to $243 million in 2017. This signifies an 84% increase in web-based gambling, while a greater scope of research estimates a gambling expenditure of $381 million over the last 18 months. The demand for online gaming experiences and the kind of revenue it generates are two of the most obvious reasons to explore the platform.

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Aristocrat Launches Lawsuit Over Alleged Game Design Theft

Aristocrat Lawsuit

Aristocrat Technologies, an Australian poker machine manufacturing company, and Ainsworth Game Technology are currently battling a corporate dispute. Aristocrat claims that Ainsworth stole the designs to one of its most successful pokie machines. Aristocrat logged the complaint to the Federal Court on the basis of breach of intellectual property law. The court case is scheduled to start this month.

Aristocrat claims that its rival stole the visual design and concept for its Lightning Link machine and used the data on its Jackpot Strike machine as if it was a product of its own.  This goes against Aristocrats copyright policy that aims to ensure that its IP rights are protected and enforced worldwide. The company has a huge portfolio of IP that includes copyright, trademarks, skills, designs and technical know-how. It also regularly applies for patents in various regions to protect its creations.

Ainsworth’s Response to Aristocrat

Aristocrat believes Ainsworth did not just trespass copyright infringement, but deliberately misused trade secrets and confidential information. Responding to these allegations, Ainsworth said the company plans to ‘vigorously defend’ itself against these claims.

Aristocrat Court Case

A Timeline of Events Leading up to Aristocrat’s Lawsuit

The trouble started when a former game designer of Ainsworth joined the Aristocrat team in March 2017 only to return to Aristocrat a month later. Ainsworth produced Jackpot Strike that same year. Aristocrat accuses the individual of studying and copying its specs, codes and all mechanics involved in the makeup of Lightning Link during his/her time at the company. However, Ainsworth says the similarities between the two machines is entirely coincidental.

The Lightning Link Pokie

Lightning Link, is a popular choice for many players in Australian and North American casinos. The game was produced in 2014, and sold well in the Australian market as well as in other parts of the world. The pokie offers operators 16 themes to choose from and all its games comes with jackpots and bonuses. It won the award for Land Based Product of the Year at the 2018 Global Gaming Awards and is labelled Aristocrats flagship pokie.

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