The son of Tony Blair’s former chief spin doctor may face a criminal investigation in the United Kingdom for the collapse of his sports betting syndicate, according to The Times of London.
Rory Campbell, son of Alastair Campbell, Blair’s director of communications and chief strategist, owes more than £5 million to investors in his failed soccer betting firm.
Rory Campbell, 37, alerted the investors that the syndicate had failed about two weeks ago, according to sources who talked with The Mail on Sunday.
Campbell claimed this was due to Asian sportsbooks failing to pay out wins to the syndicate, according to investors.
Bet Placer ‘Unpaid Since Jan’
However, a separate investor told the Racing Room betting podcast on Monday that they suspected Campbell’s major bet placer hadn’t been paid since January. This could be significant because Campbell did not notify investors about the fund’s potential danger until mid-July.
Anthony Kaminskas, co-host of Racing Room and creator of AK Bets, stated that he was invited to join the syndicate but declined, and that he knew some of the angry investors. He read aloud a message from someone who wished to remain anonymous.
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“Six months of investors asking for any kind of proof of Asian agents and bookmakers not paying,” according to Kaminskas. “It’s not simply a refusal to provide… However, treating investors as if they are fools who have no right to inquire about the whereabouts of their money.”
“It’s impossible to lose everything this way,” he added. “Every syndicate, including his, uses many bookies and agents to get the greatest price. They have not all gone renegade.”[…] Some believe the syndicate lost money. It was not. It has won seven out of the past eight years. Only Rory knows how these bets were arranged.”
Smart Investors
Podcast participants highlighted that Campbell’s supporters were not naive individuals investing their life savings in a get-rich-quick scheme. They were all intelligent, experienced gamblers and industry players, including a former executive with The Racing Post, a senior official with the British Horseracing Authority, and even a television racing presenter.
Among them was Allastair Campbell, who contributed £300,000 to his son’s fund.
Investors said they expected a 4% return on their investment at the end of the previous soccer season in May. When this did not materialize, Campbell assured them that there was “no hole” in the fund and that they would receive their money “in full” by the end of July.
According to the Times of London, discussions to reach an agreement between the two camps stalled on Friday. One investor has launched a case in London county court to recover £266,000, while others have threatened to report Campbell to the Serious Fraud Office if he does not explain where the money went.
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