Believed to have been operating the Sports Trading Club whilst actually hiding from the Australian Crime commission and other law enforcement agencies on the NSW north coast since September of 2013, all came to a crashing end for Peter Foster late October 2014 with his dramatic arrest.
It appears that hundreds of investors in an international gambling syndicate run by this con-man lost millions of dollars, and Foster’s role within the Sports Trading Club is expected to be investigated to know about the structure of his secretive business.
Using a Panama-based privacy protection service, the company’s identity was concealed and a source said that “it does not matter what its claim is on their website, as Fosters home in Byron Bay was the headquarters. This is another massive scam that is only just now coming to light, and it will collapse like a house of cards.”
The arrest of Foster was quite dramatic as apparently he had six mobile phones and several computers in a home office that revealed he was a key player within a syndicate that claims to have offices in London, Hong Kong and also Sydney!
When the NSW Police executed their federal warrants at the Ewingsdale house Foster attempted to flee, that was before he crashed into a neighbours fence and then was tackled by an officer. He is also charged with assaulting a police officer after allegedly grabbing his gun.
The Sports Trading Club is also known as STC Sports Trading Club and The Sports Trading Club Partnership, and in all they take investments between $50,000 and $250.000 which is gambled at international sporting events.
Patrick McMahon who is the company’s UK communication manager claimed in June of this year that Australian investors had actually received a 1900% return since January 2013, stating that the company does not gamble that in fact they trade, making money out of others peoples mistakes. He went on to say that when one side gambles and the other trades it is like owning the casino.
This July (2014) Sport Trading Club actually claimed to have netted a $150 million by backing Germany to win the World Cup Football Championship in Brazil, whilst also betting against favourite Serena Williams and Novac Djokovic at the 2014 Australian Open which they claimed also made the multi-million dollar win.’
Sports Trading Club have been repeatedly asked for a comment, they operate from a serviced office in Sydney’s Market Street, but these were not answered. There is a local partner who fronts the business and she is called Anne Patricia Larter, unfortunately she refused to comment as well.
Last year the company’s integrity was also questioned and challenged when it was revealed that at least two of the senior executives had used faked images on their Linked In profile pages. Fabricated quotes from a deceased Princeton economist have also been used by the gambling syndicate to boost their business.
Mr Foster is not unused to this sort of scam as he has previously been involved with a similar gambling business called Sportalists, which shut down its website after an expose on A Current Affair in 2012, and Sports Trading Club was established two months later!
Mr Fosters lawyer has said that his client did not realise that he had made a grab at the officer’s gun during his arrest, which was captured by a Channel 9 camera crew, and apparently Mr Foster also claims to have suffered chest pains after his arrest, appearing in court in a hospital gown. Mr Foster’s lawyer also said he had been ‘living like a monk’ in the $1340 a week luxury rental property, but Fairfax Media states that he was in regular contact with both his mother and his girlfriend, who live on the Gold Coast.
*During the 1980’s Peter Foster persuaded both the topless model and pop singer Samantha Fox and the Duchess of York, Sarah Ferguson to promote his Bai Lin tea brand, which falsely claimed to promote both weight-loss and well-being. Also Cherie Blair, who is the wife of the former British Prime Minister, Tony Blair, was involved in a scandal (2004) when the London tabloid newspapers revealed that Foster actually served as a financial adviser in the purchase of two apartments in Bristol.
Mr Foster is all set to be extradited to Queensland to serve a minimum 18-month prison sentence for his contempt of court.