Bankrupt builder Terry Woodall pleads not guilty to charge he hid a $15m lotto win from creditors

A bankrupt South Australian builder who owed hundreds of thousands of dollars is facing trial, accused of concealing a $15 million lottery windfall from creditors.

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

For a bankrupt facing demands from creditors, a $15 million lotto win might seem to be the perfect opportunity to settle up.

But a Keith businessman stands accused of hiding the enormous windfall from the people and businesses to whom he was in debt.

Terry Scott Woodall, 52, was charged with concealing property with intent to defraud creditors by the Australian Financial Security Authority.

On Friday, District Court Judge Wayne Chivell heard allegations that Woodall had tried to hide a $15m lottery windfall from creditors between June 26 and August 29, 2018.

The court was not told any further details about the circumstances of his lottery win.

AFSA records show Woodall was declared bankrupt on February 27, 2013, several weeks after applying for relief from spiralling debts of around $450,000.

His profession is listed as builder’s labourer but a corporation search shows that Woodall was appointed as the director of a company called Oz Terry in December 2018.

Woodall will stand trial in September 2021 and is being prosecuted by the Commonwealth Director of Public Prosecutions.

Outside court on Friday, Woodall was in good spirits but did not comment on the impending trial.

As he is charged under Commonwealth legislation, Woodall can only stand trial before a jury and is barred from electing for a trial by judge alone.

If convicted, Woodall faces a maximum penalty of five years in prison under the Bankruptcy Act.