Kesgrave man accused of online betting fraud running into at least tens of thousands of pounds
PUBLISHED: 07:00 06 January 2016 | UPDATED: 08:22 06 January 2016
A Kesgrave man is facing nine fraud charges over an alleged online betting scam running into at least tens of thousands of pounds.
Darren Hudson-Wood, of Penryn Road, made his first appearance on the allegations of fraud by false representation during a four-minute hearing before South East Suffolk Magistrates’ Court.
The 33-year-old is also facing another charge accusing him of providing an online tipping and betting service which was not under the provisions of the Gambling Act 2005.
The accusations relate to the period between January 1, 2012 and December 31, 2013.
When Hudson-Wood was asked if he would be entering a plea to the charges his solicitor Mark Holt said there would be no indication of plea at this stage.
It is alleged that Hudson-Wood duped nine people into given him money to gamble.
The money was said to be for investment in separate betting funds and that Hudson-Wood would match the money he was given by some of the clients involved in the charges.
It is alleged he guaranteed that if he made a loss gambling he would refund his customers’ original stake.
However, Hudson-Wood is accused of intending to make a gain for himself by defrauding others.
It is also said that in some cases funds would be set aside for payment to the Greatwood Horse Charity which cares for retired racehorses.
In addition one of the charges relating to alleges Hudson Wood was going to use £1,000 given to him by a customer to help purchase a yearling and another payment would buy the customer a share in a mare called Zain Princess and her foals.
District Judge Sandeep Kainth said the amount of money involved in the case meant it would have to be sent to crown court.
Hudson-Wood was told his next appearance would be at Ipswich Crown Court on February 2.
He was released on unconditional bail.