Bill Vlahos and the Massive Horse Racing Ponzi Scheme

Dazzled by the promise of plum winnings on the racetrack because of a secret mathematical formula, the investors that Bill Vlahos swindled named their syndicates accordingly — Richy Rich, Winners Circle, Oceans 18.

And they opened their bank accounts to him, too, pouring hard-earned savings into a club that he named “The Edge” because it would give participants a secret advantage on other punters.

The lure was strong.

One man transferred $1.2 million directly into the racing identity’s personal bank account, convinced that his investment would generate life-changing cash and on paper, that’s how things appeared.

But in reality, Vlahos was actually the principal of a preposterous Ponzi scheme that hustled investors out of $17,520,224… more about this Aussie man and his horse racing ponzi scheme

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About Editor

Rich Nilsen is a 19-time qualifier to the National Horseplayers Championship (NHC), an event he has cashed in four times. He was the first player to finish in the top 10 of the NHC twice. A former executive with Brisnet.com and a member of the NHC Players’ Committee, Rich is a graduate of the University of Louisville Equine Business Program and is founder of AGameofSkill.com, a site devoted to horse racing education and promotion.

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