A lottery business run by a flashy investor who appeared on reality show The Block, is being investigated in two states over allegations that it breaks gambling laws.
Adrian Portelli’s LMCT+, which he founded in 2018, earned $60million last year – according to the owner – by selling subscriptions which cost up to $100 a month.
Subscribers are entered into exclusive competitions, with prizes including homes, bikes, cars and boats, and they also get offers from motor vehicle businesses.
Portelli, who is also known as ‘Lambo Guy’ and flaunts his life of luxury, previously told Daily Mail Australia $500million was a ‘conservative estimate’ of his net worth.
But LMCT+ is now under investigation by gambling regulators in Victoria and South Australia, the Herald Sun reported.
Adrian Portelli’s LMCT+, which he founded in 2018, earned $60million last year – according to him – by selling subscriptions which cost up to $100 a month. Mr Portelli is pictured centre
Portelli welcomed the investigation.
‘I pay six figures every week in tax, I’m happy to pay my tax. You can’t be this public and not have everything in order,’ he said.
‘I welcome anyone to come here and question, tear it apart, bring it on.’
LMCT+ operates a type of lottery under a NSW license through a system designed to allow businesses to attract customers with prizes.
Technically it operates as a subscription to a buyers club with discounts on products bought from other firms.
Its marketing heavily promotes the fact that participants are entered in 10 lottery a month.
South Australia’s Consumer and Business Services and the Victorian Gambling and Casino Control Commission have each received complaints about LMCT+ and are investigating.
The Herald Sun reported the company operates legally using a loophole with Portelli previously describing the structure as a ‘trade promotion’.
He would not say how many people had signed up as members of his buyers’ club, but said it was not a raffle.
‘It’s different, it’s a trade promotion, Maccas do the same thing with their Monopoly game and Woolies do it with ooshies, it’s to drive customers to the store,’ he said.
Daily Mail Australia contacted Portelli for comment.
Portelli has made headlines in the past for his lavish and fast-paced lifestyle.
He is facing charges of careless driving, failing to have proper control of a vehicle and driving in a manner causing a vehicle to lose traction.
Portelli (pictured), who is also known as ‘Lambo Guy’ and lives a life of luxury, previously told Daily Mail Australia $500million was a ‘conservative estimate’ of his net worth
Portelli’s LMCT+ company is reportedly under investigation by gambling regulators in Victoria and South Australia. Portelli is pictured
The 34-year-old had allegedly been driving carelessly at Diggers Rest in Melbourne’s north-west in December, 2020.
Portelli faced Sunshine Magistrate’s Court on Wednesday where prosecutors offered to drop two of the three charges in a plea deal.
But he rejected the offer and said he would be fighting all three allegations ‘on principle’.
‘They’re relatively small charges, it doesn’t make real sense to fight them but luckily I’m fortunate enough to be in a position to fight them for the principle.’
Portelli allegedly lost control of his car while going through a roundabout.
He made headlines last May when he had a crane lift a McLaren Senna sports car 57 storeys into a $39million penthouse in the Sapphire by the Gardens tower in Melbourne’s CBD.
This happened despite him reportedly not having fully paid for the apartment yet – the money isn’t due until the property is completed, sometime in 2024.
He copped backlash over the McLaren stunt, along with his appearance on The Block, with Greens leader Adam Bandt criticising him on Twitter.
‘Labor’s giving this guy a $9,000 tax cut while people starve on $52 a day,’ Mr Bandt wrote.
Portelli did not hold back in his response, writing ‘Who the f*** is this guy trying to use me as a political tool to sympathise.’
Influencer Troy ‘Candy’ Williams sold his $3million home to controversial ‘Lambo Guy’ bidder from The Block, Adrian Portelli (pictured, the photoshopped pic Williams and Portelli shared to Instagram announcing the sale of the house)
Portelli (above) made headlines in 2022 when he arrived to the auction for The Block contestants Omar and Oz’s house in a yellow Lamborghini
Portelli hit back at critics of his stunt in which a crane lifted a sports car into his penthouse luxury apartment. Portelli and the car are pictured
‘MAKE UP YOUR MIND PEOPLE,’ he wrote with a red circle around a picture of Mr Bandt.
The controversial businessman regularly posts pictures of luxury cars, jetskis, boats, models and his travels in Europe.
He said he only intends to use the 57th storey apartment as a ‘weekender’ and that the buying it is related to a group he’s part of that holds the rights to run a Shangri-La luxury hotel in the other tower of the Melbourne development.
In June it was revealed that Portelli had added another investment to his property portfolio.
The entrepreneur bought influencer Troy ‘Candy’ Williams’ Gold Coast property.
The five-bedroom, four-bathroom home was listed on the market for $2.8million to $3million, but the exact sale price wasn’t revealed.
Williams announced Portelli was the buyer of the home on Instagram alongside a picture of the two bearded and tattooed men, with Portelli dressed as a women.
Source: | This article originally belongs to Dailymail.co.uk
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