Simply The Bets boss Michael Pryde was grilled in bankruptcy hearing over 'prioritised' payments. The bankrupt fraudster behind one of Sydney's most high-profile betting scams has been accused of using misappropriated funds to repay hundreds of thousands of dollars owed to family and friends instead of jilted clients, a court has heard.
Court documents reveal he repaid the pair a combined $600,000 during the same time period — money Michael Hayter, lawyer for the bankruptcy trustee, suggested should have been used to pay Simply The Bets creditors instead.
Meanwhile, Pryde revealed he was subject to threats and harassment when he was initially arrested and charged in March 2023. When asked to detail the threats and who made them, Pryde said he couldn't remember. "It mustn't have been that bad if you can't remember them," Mr Hayter said.
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