1 month ago
35
The entrepreneur known as 'Lambo guy' has been charged by gambling authorities in South Australia, following prolonged investigations.
Billionaire Adrian Portelli, founder of the car giveaway business known as LMCT+, is set to face accusations of allegedly running an unlawful lottery.
According to The Sydney Morning Herald, Portelli and the company he founded which runs LMCT+ have each been charged by South Australia's acting liquor and gambling commissioner following an investigation by authorities.
As reported in October 2023, several states were looking into the practices of Portelli and LMCT+, which classifies itself as a "rewards club" – providing access to discounts from hundreds of businesses for a monthly membership fee.
However, as part of the memberships – which range from $19.99 to $99.99 each month – the syndicate offers 'free' entries into its giveaways, which can include expensive cars, luxury houses, or large sums of cash.
Authorities claim Portelli and Xclusive Tech Pty Ltd – the company behind LMCT+ – did not hold a lottery licence in South Australia, charging Portelli and his company with nine counts of 'conduct of an unlawful lottery' each, the SMH reports.
It's not known whether Portelli's longtime business partner Troy Williams has also been charged.
Portelli, 35, is known for hoisting a McLaren Senna GTR to his $39 million penthouse on the 57th floor of a luxury Melbourne apartment in April 2023, and for purchasing several properties from The Block television show over the years.
Ben Zachariah is an experienced writer and motoring journalist from Melbourne, having worked in the automotive industry for more than two decades. Ben began writing professionally more than 15 years ago and was previously an interstate truck driver. He completed his MBA in Finance in early 2021 and is considered an expert on classic car investment.
