Victims of horse racing Ponzi scheme search for their missing millions
FriFriday 12
Peter and Kath were investors in the punters club, The Edge.
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Key points:
Seven years after a horse-racing gambling syndicate collapsed, investors still don t know where all their money went
A court has found the syndicate was actually a Ponzi scheme
Police have declined to prosecute the scam s middlemen
In 2012, a workmate in the oil industry invited Peter to join The Edge , a secret punting club promising unheard-of returns.
He told Peter the mastermind behind the plan, well-known horse racing identity Bill Vlahos, had a magic formula for picking winners.