https://ustodaybuzz.com/template/a/www.industrysuper.com
 
Skip to Main Content
 

Tony Blair Spin Chief Loses Big in Son’s Collapsed Betting Syndicate


Alastair Campbell, formerly a powerful figure in UK politics, funneled £300,000 (US$370,000) into his son’s ill-fated soccer- prior to its collapse, The Daily Mail reports.

Alastair Campbell, Rory Campbell, betting syndicate Alastair Campbell, right, was Tony Blair’s director of communications, but his son Rory’s collapsed betting syndicate may prove a difficult spin. (Image: The Sun)

Campbell, 67, is one of more than 50 investors who collectively plowed at least £5 million (US$6.1 million) into the venture, which was operated by Rory Campbell, 37.

The scheme purportedly used mathematical models to gain an edge in the betting markets, but investors were told two weeks ago that the syndicate had collapsed because sportsbooks in Asia had failed to pay out winnings, according to sources who spoke to the Mail.

Rory Campbell had previously made assurances that there was “no hole” in the fund and they could expect to receive their funds “in full” by the end of July, one source said. In mid-July Campbell revised that figure to a return “in the region of 50%-65%,” according to the source.

‘Low Risk’ Claim

One investor told the Mail that Campbell had described the betting scheme as “massively low risk,” adding they had placed a significant portion of their total wealth into the fund.

“Rory told us that at no time could he lose more than 5% of the total betting fund to a single bookmaker and that his job was to manage that risk,” the investor told the Mail.

Then suddenly all the money has just disappeared,” they added. “He has provided absolutely zero evidence of where it has gone, and we want a proper explanation of where all the millions of pounds have gone.”

Investors are currently negotiating a resolution with the Campbell family and believe they will be lucky to get 15% of their losses back, according to the Mail.

Some have compiled a dossier of evidence, including contracts, bank statements, spreadsheets, and communication with Campbell, which they plan to take to the police.

‘Confidences Broken’

A spokesperson for the Campbell camp told the Mail that its reporter had been “given an incomplete and, in several respects, inaccurate account of a highly complex set of issues, which are currently the subject of what we had understood to be confidential negotiations intended to seek a resolution between the various parties.”

It is a matter of concern and very disappointing to learn from you that these confidences have been broken,” the spokesperson continued. “Given the confidential nature of the discussions, we are not at liberty to make any further comment at this stage.”

Alastair Campbell was the Blair administration’s director of communications from 1997 to 2003. As Blair s speechwriter and chief strategist, he was sometimes referred to “the real deputy prime minister.”

What's your question?

warning Your question will be sent directly to the fund you select

Talk to someone who knows how to help

warning Your question will be sent directly to the fund you select

  • You will be called back at the next available opportunity.

Thank you for your enquiry

An error has occurred

Due to a technical fault we are unable to to submit your form at the moment. Please try again later.

Additional details:

Hard Rock, Seminole Tribe Donates $1M to Hurricane Relief Efforts  High-Speed Rail Company Buys Land for Southern Nevada Train Station  O.J. Simpson Launches Twitter Account from Las Vegas Home as Ex-Con has ‘A Little Getting Even To Do’  Google, Apple Delete Hundreds of Chinese-Facing Gambling Apps Disguised as Innocuous Content  VEGAS MYTHS RE-BUSTED: The Accidental Drunken Wedding  Las Vegas-Based Security Firm Regularly Patrols 18 Vegas Casinos  President Trump Attacks Latest Polls Showing Biden Ahead, 2020 Odds Tell Different Story  Rio Casino Reopens in Las Vegas Amid Temporary Closures on the Strip  Las Vegas Raiders Could Provide Boost to Gambling Stocks, Mark Davis Thanks Sheldon Adelson  Nevada Gov. Extends Stay-At-Home Order, Study Finds Majority of Americans Not Ready to Reopen