Adrian ‘Lambo Guy’ Portelli’s lottery business LMCT+ is investigated
A lottery business run by a fantasy investor who appeared on the reality show The Block is being investigated in two states over allegations it violated gambling laws.
Adrian Portelli’s LMCT+, which he founded in 2018, made $60 million last year — according to the owner — selling subscriptions that cost up to $100 a month.
Subscribers take part in exclusive competitions, with prizes including houses, bikes, cars and boats, and receive offers from motor vehicle businesses.
Portelli, who is also known as the ‘Lambo Guy’ and flaunts his lavish lifestyle, previously told Daily Mail Australia that $500 million was a ‘conservative estimate’ of his net worth.
But LMCT+ is now under investigation by gambling regulators in Victoria and South Australia Herald Sun reported.
Adrian Portelli’s LMCT+, which he founded in 2018, made $60 million last year – according to him – selling subscriptions that cost up to $100 a month. Mr. Portelli is pictured in the center
Portelli welcomed the investigation.
“I pay six figures every week in tax, I’m happy to pay my tax. You can’t be so public and not have everything right,” he said.
“I welcome anyone to come here and ask, tear it, bring it.”
LMCT+ operates a type of lottery under a NSW license through a system designed to allow businesses to attract customers with prizes.
Technically it works like a subscription to a buyers club with discounts on products bought from other firms.
Its marketing heavily promotes the fact that participants are entered into 10 sweepstakes per month.
South Australia’s Consumer and Business Services and the Victorian Gambling and Casino Control Commission have each received complaints about LMCT+ and are investigating.
The Herald Sun reported that the company operates legally using a loophole with Portelli previously describing the structure as a “commercial promotion”.
He would not say how many people had signed up as members of his buyers’ club, but said it was not a lottery.
“It’s different, it’s a trade promotion, Maccas do the same with their Monopoly game and Woolies do it with ooshies, it’s to drive customers into the store,” he said.
Daily Mail Australia contacted Portelli for comment.
Portelli has made headlines in the past for his lavish and fast-paced lifestyle.
He faces charges of careless driving, failure to properly control the vehicle and driving so that the vehicle loses traction.
Portelli (pictured), who is also known as the ‘Lambo Guy’ and lives a life of luxury, previously told Daily Mail Australia that $500 million was a ‘conservative estimate’ of his net worth.
Portelli’s LMCT+ company is said to be under investigation by gambling regulators in Victoria and South Australia. Portelli is in the picture
The 34-year-old is alleged to have been driving carelessly at Diggers Rest in Melbourne’s north-west in December 2020.
Portelli faced Sunshine Magistrates Court on Wednesday, where prosecutors offered to drop two of the three charges in a plea deal.
But he rejected the offer and said he would fight all three charges ‘in principle’.
“They’re relatively minor charges, there’s no point in fighting them, but fortunately I’m lucky enough to be able to fight them on principle.”
Portelli allegedly lost control of his car while going through a roundabout.
He made headlines last May when a crane lifted a McLaren Senna sports car 57 stories into a $39 million penthouse at the Sapphire by the Gardens tower in Melbourne’s CBD.
This is despite the fact that he has reportedly yet to pay off the apartment in full – the money is not due until the property is finished, sometime in 2024.
He dealt with the backlash over McLaren’s stunt, along with his appearance on The Block, with Greens leader Adam Bandt slamming him on Twitter.
“Labor is giving this guy a $9,000 tax cut while people starve on $52 a day,” Bandt wrote.
Portelli didn’t hold back in his response, writing ‘Who is this guy trying to use me as a political tool to gain sympathy’.
Influencer Troy ‘Candy’ Williams sold his $3 million home to The Block’s controversial ‘Lambo Guy’ bidder Adrian Portelli (pictured, photoshopped photo of Williams and Portelli shared on Instagram announcing the sale of the home)
Portelli (above) made headlines in 2022 when he arrived at the auction for The Block contestants Omar and Oz’s house in a yellow Lamborghini
Portelli hit back at critics of his stunt in which a crane lifted a sports car into his luxury penthouse. The hatch and the car are in the picture
“BREAK YOUR MIND PEOPLE,” he wrote with a red circle around a picture of Mr. Bandt.
The controversial businessman regularly posts photos of his luxury cars, jetskis, boats, models and trips to Europe.
He said he intends to use the 57-storey apartment only as a “weekend” and that its purchase is linked to a group he is part of that holds the rights to run a luxury Shangri-La hotel in the next Melbourne development tower.
In June it was revealed that Portelli had added another investment to his property portfolio.
The entrepreneur bought influencer Troy ‘Candy’ Williams’ Gold Coast property.
The five-bedroom, four-bathroom home was listed on the market for $2.8 million to $3 million, but the exact sale price was not disclosed.
Williams announced that Portelli was the home’s buyer on Instagram along with a photo of two men with beards and tattoos, with Portelli dressed as a woman.
(tagsTranslate)daily mail(s)news(s)South Australia(s)Melbourne(s)Block