Australian sports betting and lottery operator Tabcorp Holdings was fleeced for over A$600k by a former staffer who used inside information to cash in unclaimed winning betting slips.
On Thursday, Aussie media outlet 9News reported that a former Tabcorp information technology staffer and his wife were handed stiff jail sentences for using insider information to cash winning TAB wagers that had gone unclaimed for longer than three months.
According to the report, Trevor Raine used his position as an IT staffer to search Tabcorp’s databases for unclaimed winning tickets, then printed up bogus tickets with the same serial numbers, bar codes and betting information. Raine’s wife Talanoa would then take the tickets to TAB agencies in Sydney and Melbourne and claim their ill-gotten winnings.
The felonious pair were careful not to claim any individual winners over A$10k, the threshold for reporting winnings to federal tax authorities. But after an initial test in which they cashed nine winners for a combined A$4k, they ramped up their illegal activity, including a single day in which they cashed 260 tickets worth a combined A$63k.