Businessman in HK punting scandal

HONG KONG: An Indian-origin businessman has emerged at the centre of a betting scandal in Hong Kong following charges that a well-known Australian jockey gave him racing tips and used him as a conduit for placing bets in violation of the law.

Testifying as a witness with immunity from prosecution, Dinesh Kumar Daswani, a Hong Kong-born businessman and a racing enthusiast, told a district court in Hong Kong that he had proposed to Australian jockey Christopher Munce in December 2005 that they team up to pull off a betting scam and that Munce had readily agreed.

Under that arrangement, Munce would phone Daswani on the day of the races and give him tips on which horses to bet on and even how much money to bet. Daswani would then place bets on his own and Munce’s behalf. (Under Hong Kong Jockey Club rules, jockeys are barred from betting and from giving out tips.) On the prize earnings that Daswani collected on Munce’s behalf, he retained a 30 per cent commission.

The enterprise worked well for both of them: between December 2005 and July 2006, Munce gave tips in respect of 36 races; he finished first in 18 of the races (in some case against stupendous odds), and in the top three in several other races. Muce’s share of the winnings from these bets alone came to about HK$8,00,000.

Munce was arrested in July 2006 by anti-corruption investigators who had been tracking the meetings between him, Daswani and a septuagenarian punter. At the time of the arrest, Munce had $2,50,000 in cash with him, which he claimed was a farewell gift from a friend. The trial is now under way.