|After Andrew Pertrie, former director of MMD Design Consultancy, was jailed for six and a half years last week for stealing and gambling away approximately £1.5 million of the company pension, Betfair pledged to return any money the disgraced director had spent at their betting exchange.|
Betfair, who have recently proved their commitment to the promotion of responsible gambling with their new Gamcare initiative, see themselves as the good guys of British betting and were quick to disassociate themselves from the profit they had made from Petrie’s ill-gotten gains - some £200,000.
Mark Davies, spokesman for Betfair, told the Racing Post: 'Betfair made the decision, as soon as we became aware of his activities, to return any money made on its own account to the pension fund from which Andrew Petrie had stolen, There is no obligation on us to do so, but because people with money in a pension fund have been defrauded by a criminal, and because we can tell exactly what Andrew Petrie has done with a part of that money that he spent on Betfair, we will return all funds that ended up in our account to their rightful place.'
Petrie took the money from the pension fund over a twenty-one month period in order to fund his copious gambling habit. He admitted three charges of theft and asked for eleven similar offences to be considered.