Phoenix Security Group managing director Anthony ‘Tony’ Morahan stole $971,649 from Tabcorp

A company boss nicked almost $1m in TAB track cash after the gullible grifter was roped into an international investment scam.

Phoenix Security Group managing director Anthony ‘Tony’ Morahan stole $971,649 from Tabcorp race meets where former star galloper Hartnell (pictured) once reigned supreme.

A security company managing director who stole almost $1m in TAB racetrack cash which he blew on an international investment scam has been jailed.

Phoenix Security Group boss Anthony ‘Tony’ Morahan, 66, was sentenced in the County Court on Friday to six month’s jail after pleading guilty to a rolled-up theft charge.

Morahan, whose company traded as Security Services Melbourne, held a longstanding contract with Tabcorp to transport cash floats to and from various racetracks and “live venues” including MCG footy games.

Morahan rorted $971,649 from TAB coffers between May 27 and June 6, 2016.

The disgraced boss swindled cash from various racetracks including meets at Sandown, Pakenham, Geelong, Ballarat and Cranbourne.

Morahan also siphoned dough from greyhound meets at The Meadows Races and Geelong Greyhounds.

The court heard Morahan got his mitts on more than $800,000 from a single Flemington meet but this cash was not part of the criminal charge.

Tabcorp contacted Morahan after it became aware of “discrepancies in outstanding balances” held by his Kensington-based company.

Morahan sent TAB a spreadsheet but there were still discrepancies.

Days later, Morahan requested an in person meeting with TAB management.

Morahan fessed up to taking the cash which he claimed he lost through an overseas investment scam.

Morahan also asked if he taking TAB’s cash would affect their business relationship.

“It is all bad timing,” Morahan said.

“Will this effect the contract and renewal of the contract.”

“Yes it will impact the relationship,” the manager responded.

“You have been churning Tabcorp’s money.”

TAB ran a deep audit on it dealings with Morahan’s company.

The audit revealed money collected by SSM from 54 racing events at 28 different outlets between February 27 and June 7 which had not been banked back to Tabcorp totalled $1,941,614.

Police investigators discovered Morahan had been the victim of an international fraud racket.

Morahan transferred more than $2 million to the sophisticated racket operating under the guise of legitimate organisations ‘Lawton & Yeung’ and ‘Barrington Clifton’.

Police determined Morahan transferred cash to banks in Hong Kong and Malaysia.

The matter was referred to Interpol via the AFP.

Morahan’s co-director – who had no knowledge Morahan had stolen money – was aware his partner had invested cash.

“Around the time when the money that Tony had invested was due to be returned I looked at our operating accounts and saw that Tony had transferred more money internationally,” the co-director said in a statement.

“I asked Tony about it and he said that there was going to be a greater return on his original investment by investing more.

“I said to Tony that this sounded like one of those things you hear of on A Current Affair and he said no.

“Tony was confident that everything was under control … about a week later the investment money was meant to be returned but it still hadn’t come through and Tony told me that the investment people wanted more money from him.

“I said to Tony that this smells … we had quite a conversation … I googled the name of the investment company … all these scam alert results came up warning people not to use them or invest with them.”

The court heard Morahan, of Parwan in Melbourne’s northwest, was married and had a daughter.

Morahan, represented by Phillip Dunn KC, was also handed a three-year community correction order.

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