Online Gambling Fraudster Jailed 9 Years
Published: Tuesday, October 31, 2006 Online-Casinos.com
ONLINE GAMBLING FRAUDSTER JAILED FOR 9 YEARS
The wages of a $2 million sin are jail time
Sky News reports that a former financial advisor who conned clients out of more than GBP 2 million (see previous Online-Casinos.com/InfoPowa reports) has been jailed for nine years for forgery, theft and money laundering.
Philip Smith (48) used the money to feed an online gambling addiction. Smith, of Bowdon, Cheshire, conned at least 50 victims - many elderly and vulnerable - and gambled away GBP2 million on the internet.
He was described as a "callous, manipulative and thoroughly dishonest man" by Judge Peter Lakin at Manchester Crown Court as he was jailed.
Judge Lakin said: "As a financial adviser, your clients trusted you to handle their financial affairs with integrity and honesty. You breached that trust placed in you in a cold and calculated way. You deliberately targeted elderly and vulnerable people. This was dishonesty on a truly breathtaking scale."
Smith had admitted 49 counts of theft, five of money laundering, two of false accounting and three forgeries early this year.
He stashed the money in offshore bank accounts and lived a lavish lifestyle on the proceeds of his crime.
Many of his clients were friends who had known him for more than 20 years. Some stayed in his holiday home in North Wales or his villa on the Costa del Sol in southern Spain. Smith's victims were aged between 29 and 91 and included his own brother.
An old favorite brought back under a new software brand, U.S. friendly.
Use just one account to access poker, sports book and casino gaming.
Excellent number of high-quality games and great support.
Nice sign-up and on-going bonuses with fast cash withdrawal processing.
Good selection of fun games including some new, innovative games on offer.
Huge sign-up bonus with reasonable wagering requirements and an excellent look and feel.
New players receive an insane 200% bonus up to $1000 free on both their first and second deposit.
New players offered up to $888 free in sign up bonuses, a special bonus available for blackjack players as well.
