‘Dollar’ Bill Vlahos to front court on more than 300 charges

THE man who allegedly organised a punters club that police believe filched $129 million from its members has been officially charged.

“Dollar” Bill Vlahos, 51, of Torquay in Victoria, will front Melbourne Magistrates’ Court on November 23 to face more than 300 charges of obtaining financial advantage by deception.

Police will allege the crimes occurred over a five year period between 2008 and 2013.

The club was started in December, 2004.

Mr Vlahos has maintained his innocence since the claims were uncovered, apportioning the blame on a mystery punter.

It has been reported in mainstream media that there were some 600 people who lost money while involved in the punters club included several members of the police force, along with a number of high profile sporting identities and leading Melbourne businessmen.

Vlahos was reportedly once the chairman of BC3 Thoroughbreds, which bid $5 million for a half brother to Black Caviar at the 2013 Inglis Easter Yearling Sales – a deal that was never consummated. He was ordered to front a Victorian racing stewards inquiry into the purchase.

He reportedly declared bankruptcy in December 2013.

Fraud and extortion squad detectives closed in on Vlahos yesterday, charging him on summons with the crimes.