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NSW Police arrest conman for alleged multi-million global sports betting fraud

By Allison Shor - Contributor
1 month ago

Serial crook Peter Foster was arrested on Thursday 21st August over allegations of a global sports betting scam worth millions of dollars.

Mr Foster has already spent time in jail in the UK, the US, Australia and Vanuatu, and was a central figure in the notorious Cheriegate affair. The 57-year-old was tackled to the ground and arrested by two undercover police officers whilst walking along the beach in Queensland, Australia.

He had helped Cherie Blaire to purchase two flats at a discounted price in 2002, and is alleged to have run a sports betting scam which had investors, including some in the UK, lose tens of thousands. It is believed that the fraud is associated with Sport Predictions, a company that claims to work with experts who were engaged to place bets on numerous sporting events. But, according to allegations, the sports bets were not created by “experts” and the wagers were received by Mr Foster, who laundered it through New South Wales (NSW).

Sports Predictions is supposedly an imitation of Foster’s previous multi-million-dollar con, Sports Trading Company, for which he served 12 months in jail in Australia for trading under a false name.

Foster is expected to face charges with multiple fraud offences.