Police to probe Victorian racing club over alleged fraudulent payments
Transactions within one of Victoria’s biggest country race clubs are set to come under scrutiny by police after an internal audit reportedly uncovered financial discrepancies involving tens of thousands of dollars.
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Police have been called in to investigate possible “fraudulent payments” at one of Victoria’s biggest country race clubs, after a spending audit found financial irregularities.
Transactions dating back to 2017 within the Wangaratta Turf Club will be closely reviewed after an internal audit reportedly uncovered financial discrepancies involving tens of thousands of dollars.
Racing Victoria declined to comment on the police investigation but confirmed it had issued an emergency $1.5 million loan to pay suppliers, deal with “cost overruns” and to run the club in the short to medium term.
The Herald Sun understands complaints of fraud were referred to authorities by long-term club members this month, not by the newly appointed management who had been brought in following the departure of long-term CEO Paul Hoysted in June.
Community and club members have told the Herald Sun there have been examples of financial “irregularities”, including at least one invoice on which it appeared financial figures had been increased tenfold.
There were also questions over how local, federal and state government money had been used. In recent years, the club had received millions of dollars in grants, some for fixing the ageing venue.
The club received $1.4 million, including $720,000 from the Victorian Racing Industry Fund, to support the 2018 Wangaratta Racing, Food and Wine Carnival.
Victoria Police spokeswoman Melissa Seach confirmed the matter was being probed.
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“The offences are alleged to have occurred between 2017 and 2019,” she said.
“As the matter is now under investigation, it would not be appropriate to comment further.”
One of the club’s newly appointed managers, Ben Murphy, previously confirmed a review into finances was underway but would not reveal whether criminal activity had been found.
Mr Hoysted left the club in June after almost a decade at the helm.
During his reign, the club received millions in state, federal and local government grants.
The Herald Sun is not suggesting Mr Hoysted did anything wrong and he has previously said he knows “absolutely nothing” of the matter.