Latest news with #ChaoWang
Sydney Morning Herald
a day ago
- Sydney Morning Herald
Luxury hotels and a Lamborghini: School captain ‘conned mates out of millions'
The Lamborghini, Rolexes and luxury hotels suggested the former captain of Ashfield Boy's High had struck it big with his fledgling betting company. However, police allege it was all a 'heinous' scam to extract millions of dollars from his fellow students. Court documents obtained by the Herald allege Chao Wang, aka Charlie Lotzke, had been living in Thailand for less than a year but was already wanted by local authorities, when he slipped out of the country and flew back to Sydney. It was welcome news to NSW Police detectives, who had been waiting almost two years to take Wang into custody. They finally got their wish last month, shortly after he landed. It was a dramatic fall from grace for the 2019 captain of the inner west school. Wang's friends told police he was 'intelligent, charismatic and well-liked,' but he allegedly confessed a massive gambling problem. The police documents claim that in 2021 Wang had been asking school friends to invest in his new company Lotzkebets, which he passed off as an online gambling platform. 'He would promise large returns on investment and produce falsified documents from banks and other businesses to gain the confidence of would-be victims,' the documents says. Many of Wang's friends, some of whom had known him since primary school, poured in tens or hundreds of thousands of dollars each as investors, police say. Wang allegedly used the fake documents to show he had secured large returns, which were ready to be transferred, and then asked his victims to pay an 'administrative fee' to unlock their money.
The Age
a day ago
- The Age
Luxury hotels and a Lamborghini: School captain ‘conned mates out of millions'
The Lamborghini, Rolexes and luxury hotels suggested the former captain of Ashfield Boy's High had struck it big with his fledgling betting company. However, police allege it was all a 'heinous' scam to extract millions of dollars from his fellow students. Court documents obtained by the Herald allege Chao Wang, aka Charlie Lotzke, had been living in Thailand for less than a year but was already wanted by local authorities, when he slipped out of the country and flew back to Sydney. It was welcome news to NSW Police detectives, who had been waiting almost two years to take Wang into custody. They finally got their wish last month, shortly after he landed. It was a dramatic fall from grace for the 2019 captain of the inner west school. Wang's friends told police he was 'intelligent, charismatic and well-liked,' but he allegedly confessed a massive gambling problem. The police documents claim that in 2021 Wang had been asking school friends to invest in his new company Lotzkebets, which he passed off as an online gambling platform. 'He would promise large returns on investment and produce falsified documents from banks and other businesses to gain the confidence of would-be victims,' the documents says. Many of Wang's friends, some of whom had known him since primary school, poured in tens or hundreds of thousands of dollars each as investors, police say. Wang allegedly used the fake documents to show he had secured large returns, which were ready to be transferred, and then asked his victims to pay an 'administrative fee' to unlock their money.
