A Gold Coast businessman has been accused of spending almost $40 million of investors’ money at the casino.
After an ASIC investigation, the Federal Court has appointed receivers to 13 companies run by NDIS property developer David George McWilliams.
The corporate watchdog launched action against the developer and his wife Laura Fullarton after a tip-off by the Queensland Office of Liquor and Gaming that Mr McWilliams placed $39,535,728 worth of bets at Star casinos between October 2022 and February this year.
Over the 17 months, he gambled between $500,000 and $5 million per month.
His gambling losses during the period totalled $3.8 million.
He is also suspected of providing financial services without a licence.
ASIC says Mr McWilliams lost…