Aussie billionaire Adrian Portelli charged in relation to private lottery company

Australian billionaire Adrian Portelli has been charged over alleged unlawful conduct related to his business operations.

Australian billionaire Adrian Portelli has been charged by The South Australian Consumer and Business Services (CBS) over alleged unlawful conduct related to his business operations.

Mr Portelli faces nine charges for personally conducting or assisting in the conduct of an unlawful lottery.

His company, Xclusive Tech Pty Ltd, which operates under the brand LMCT+, has been charged with ten similar counts.

Portelli’s first mention is scheduled for January 15 in the South Australian Magistrate’s Court.

LMCT+ is a subscription-based lottery that prizes cash, cars, and homes.

The case comes a day after Mr Portelli attracted headlines for giving away $150,000 worth of Coles vouchers to help struggling families in western Sydney.

Australian billionaire Adrian Portelli has been charged by South Australia’s Consumer and Business Services (CBS) over alleged unlawful conduct related to his business operations.

The lottery been the subject of scrutiny from anti-gambling advocates who accuse it of targeting low-income Australians.

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The lottery has been the subject of scrutiny from anti-gambling advocates who accuse it of targeting low-income Australians. Critics argue that the company preys on vulnerable people who pay up to $100 a month for the chance to win prizes.

Despite the criticism, Mr Portelli insists the company is simply a “membership reward service” that helps local businesses while generating millions of dollars in savings for Australian families.

Mr Portelli’s lavish lifestyle, including his luxury car collection and multimillion-dollar properties, has fascinated his fans. His philanthropic gesture, giving away vouchers to 1,000 Sydneysiders, added to his public image of generosity.

“Why not? I’m able to assist with people, so I may as well spend the money,” Mr Portelli said.

Mr Portelli’s $1 billion fortune includes multiple properties and luxury cars which he flaunts on social media.

News.com.au has reached out to Mr Portelli and LMCT+.