Terry Scott Woodall allegedly failed to disclose entire $15m lotto win to his creditors, court told

A bankrupt SA builder wound up in court after allegedly hiding his $15m lotto win – but when he tried to plead guilty, the magistrate wasn’t having it.

A declared bankrupt who scooped $15 million in X Lotto failed to disclose his win and offered to pay creditors only a third of the money owed, a court has heard.

Keith businessman Terry Scott Woodall, 53, was initially charged with concealing his lotto win with an intent to defraud creditors.

However, after hearings in the District Court, the charge was downgraded to concealing property and sent back to the Adelaide Magistrates Court where Mr Woodall pleaded guilty.

On Wednesday, Magistrate Stefan Metanomksi heard there were still fundamental disagreements between Craig Caldicott, for Mr Woodall, and the Commonwealth Director of Public Prosecutions.

He ordered the guilty plea be withdrawn and scheduled the matter for trial on the specific issue of whether Mr Woodall had a defence to the charge.

Mr Woodall was declared bankrupt on February 27, 2013. It was at the same time a judgment was made against him for defective work he performed in his home town.

He was ordered to pay $337,000 to his creditors. The court heard that after winning the lottery, he offered to clear the debt for $100,000.

Keith businessman Terry Woodall who is accused of hiding $15m worth of lottery winnings from his creditors. Picture: Mitch Mott

The creditors rejected the offer.

Mr Caldicott said creditors told Mr Woodall that for $1,000,050 he could clear the debt and be discharged from bankruptcy. Mr Woodall paid the amount.

But Mr Woodall’s problems were far from over. He had come under investigation by the Australian Financial Security Authority for allegedly hiding the lotto funds.

During the hearing on Wednesday, Mr Caldicott said Mr Woodall had not been aware of his obligation to disclose the win to the creditors.

“Ignorance of the law is not a defence,” Mr Caldicott said. “But he didn’t have any fraudulent intention.”

A representative for the prosecution said Mr Woodall was told he had to disclose any property, including lotto wins, and had shown a willingness to hide the funds by offering only $100,000.

The trial has been set for next year.