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Paddy Power fined after bets made with stolen cash

PADDY POWER Betfair was fined £2.2 million by the gambling watchdog yesterday for a raft of failings, including allowing a punter to gamble money stolen from a dogs home.

The Gambling Commission found “significant” amounts of stolen money had been gambled with Paddy Power's online exchange Betfair after it failed to carry out proper anti-money laundering checks.

Its investigation also found Paddy Power did not protect three customers showing signs of gambling addiction.

The commission’s inquiry centred on five customers in 2016, including two who were allowed to gamble stolen money, one of whom had defrauded his employer, Birmingham Dogs Home.

Simon Price, who was chief executive of the dogs home, and his wife Alayna admitted cheating the charity in an £894,754 fraud over four years from 2012 to feed his gambling addiction.

Mr Price was jailed for five years at the end of 2017, while Ms Price was given a two-year suspended term.

As part of Paddy Power’s settlement with the Gambling Commission, the money will be returned to the dogs home.

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