Australian billionaire investor Adrian Portelli and his rewards club company have been charged in South Australia with conducting an unlawful lottery.
LMCT+, Portelli’s rewards club, offered discounts from hundreds of businesses in return for a membership fee. The company entered its members into monthly draws, with Portelli saying prizes would include cars, properties, and millions of dollars.
“The major prize for the lottery was a property situated in Gisborne in the state of Victoria as seen on the Australian television show The Block, or a cash prize of A$3,000,000,” according to court documents.
South Australia requires a licence to operate a lottery, which Portelli reportedly did not obtain.
Xclusive Tech, LMCT+’s parent company, was charged alongside Portelli by South Australia’s acting liquor and gambling commissioner.
They face 19 charges of conducting and assisting in the conduct of an unlawful lottery.
The incidents occurred from January 2023 to May 2024. Under South Australian law, unlicensed lottery organisers may pay a maximum penalty of $10,000.
Portelli rose to prominence after appearing on The Block in 2022 and 2023.
LMCT+’s annual revenue was around $60 million last year, the Australian Financial Review estimated.
