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$14.5m Gambler Loses TAB Credit Bets Court Case

Wednesday, 6th August 2008

Suspended solicitor Christopher Fitzsimons "who gambled away $14.5 million in 5 years has lost a court case against the NSW Government, NSW TAB & Tabcorp Holdings, which he was suing after TAB invited him to take part in a credit betting scheme," reported The Australian Financial Review. Fitzsimons (who admitted he was an "addicted, compulsive gambler") was suing over a "$5,000-a-week credit betting facility he was extended between March 2003 & July 2006". Fitzsimons alleged TAB "failed to inquire about his financial means, failed to perform adequate due diligence, failed to check the details of a credit card he provided which was in his daughter's name & failed to get permission from joint account holders to take money from a Commonwealth Bank account". However NSW Supreme Court Judge Robert McDougall ruled "all the grounds on which Fitzsimons challenged the facility failed & it was legitimately put in place".

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