Man on trial for defrauding gamblers of 900M

A 53-year-old man is due in court in Lyngby this December, accused of fraudulent practices leading to a 900 million kroner scam through a betting association. The National Unit for Special Crime (NSK) has called for a court session on the matter. The case might result in a confession, though the defendant’s will to confess is yet undivulged by both NSK and the man’s lawyer, Anders Németh. The betting club had over 800 members who were misled to believe their deposits were gambled on sports matches, generating profits. Instead, payouts were financed by other members’ deposits, constituting a Ponzi scheme. Large amounts of funds were also allegedly misused by the accused, who has been in custody since January 2024, following his arrest. There are three additional suspects under investigation. If the accused confesses during the hearing set for December 2 and 6, the case could be expedited.