Tony Blair Spin Chief Loses Big in Son’s Collapsed Betting Syndicate
Alastair Campbell, once a significant player in UK politics, invested £300,000 (US$370,000) into his son's unsuccessful soccer-betting operation before it fell apart, according to The Daily Mail.
Campbell, 67, is among over 50 investors who together invested at least £5 million (US$6.1 million) into the enterprise, run by Rory Campbell, 37.
The system allegedly employed mathematical models to secure an advantage in betting markets, but investors were informed two weeks prior that the group had fallen apart due to non-payment of winnings by sportsbooks in Asia, as reported by sources who communicated with the Mail.
Rory Campbell had earlier guaranteed that there was “no gap” in the fund and they should anticipate receiving their money “in total” by the end of July, according to one source. In mid-July, Campbell updated that estimate to a return “around 50%-65%,” as per the source.
‘Minimal Risk’ Claim
A certain investor informed the Mail that Campbell had characterized the betting plan as "extremely low risk," noting they had invested a considerable share of their overall wealth into the fund.
“Rory told us that at no time could he lose more than 5% of the total betting fund to a single bookmaker and that his job was to manage that risk,” the investor told the Mail.
"Then suddenly all the money has just disappeared,” they added. “He has provided absolutely zero evidence of where it has gone, and we want a proper explanation of where all the millions of pounds have gone.”
Investors are in discussions with the Campbell family to reach a settlement and anticipate they may recover only 15% of their losses, as reported by the Mail.
A dossier of evidence has been compiled by some, containing contracts, bank statements, spreadsheets, and correspondence with Campbell, which they intend to present to the police.
‘Shattered Trust’
A representative from the Campbell team informed the Mail that its journalist had received “an incomplete and, in several ways, inaccurate description of a highly intricate range of issues, which are presently undergoing what we believed to be confidential discussions aimed at achieving a resolution among the different parties.”
"It is a matter of concern and very disappointing to learn from you that these confidences have been broken,” the spokesperson continued. “Given the confidential nature of the discussions, we are not at liberty to make any further comment at this stage.”
Alastair Campbell served as the communications director for the Blair administration from 1997 until 2003. In his role as Blair's speechwriter and chief strategist, he was occasionally called "the true deputy prime minister."
