Portuguese court overturns conviction in sports betting fraud case
The Porto Court of Appeal has absolved a man previously sentenced for fraud related to an alleged betting investment scheme.
Key Points
- Initial conviction sentenced the defendant to three and a half years in prison
- Appeal judges found no evidence of “deceptive intent” since investors knew of potential losses
- The case involved over €400,000 ($469,000) transferred by dozens of individuals
The Porto Court of Appeal has absolved a man who had been convicted in a lower court for running what prosecutors described as a fraudulent sports betting scheme.
The original ruling sentenced the defendant for three and a half years in prison for aggravated fraud and ordered him to pay around €37,000 in compensation to three claimants.
In its latest decision, however, judges overturned the conviction entirely. The Court decided that there had been no “deceptive intent” in the defendant’s actions, concluding that those who participated were aware of the inherent risks of betting.
“The victims knew that there was a possibility of losing their money,” the ruling stated, adding that no “error or deception” had occurred regarding the chance of loss.
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According to case records, the man presented himself as a “sports betting trader” and persuaded dozens of individuals to hand over funds, which he said he would invest collectively in online betting exchanges.
At first, he reimbursed investors with profits, encouraging further and larger contributions. In the period of six months, he collected approximately €400,000, of which just over half was returned.
The Court also determined that around €122,000 had been diverted for personal use.
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