Aussie Billionaire's Company Found Guilty of Illegal Lotteries

In South Australia, Xclusive Tech Pty Ltd, a company associated with Australian billionaire Adrian Portelli, has been found guilty on ten counts of operating unlawful lotteries. The conviction in Adelaide Magistrates Court on Friday relates to lotteries conducted between January 29, 2023, and May 16, 2024. These lotteries offered prizes including cash, cars, and houses, but Xclusive Tech lacked the required license for operations within the state. Mr. Portelli, the sole director of Xclusive Tech, was acquitted of all nine charges alleging his assistance in conducting these lotteries. He had previously stated his company was compliant with all other Australian states and territories, attributing issues in South Australia to misinformation.

Despite the company's conviction, Mr. Portelli's legal team argued for the positive impact of the lotteries on South Australians. The court heard that Mr. Portelli had unsuccessfully applied for the correct licensing. LMCT+ is understood to have a substantial subscriber base of at least 300,000 individuals. Sentencing for Xclusive Tech Pty Ltd is slated to occur later on Friday, where the company will face the consequences of its unlicensed lottery operations.