Entain Australia executive resigns amid money laundering scandal

The sports betting and gambling company Entain Group has been dealt a further resignation after being taken to Australian federal court by the Australian regulator AUSTRAC in December, The Guardian reports.

Lachlan Fitt is the third executive who has reportedly stepped down from operations at Entain. Fitt had served as Chief Financial Officer for Entain’s Australian branch from 2018, which operated gambling platforms Ladbrokes and Neds.

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Fitt’s resignation follows Cameron Rodger’s as Managing Director of Entain New Zealand, a week after Entain CEO Gavin Isaacs left the company on 11 February.

The Guardian reported that Fitt said in a statement, “After a decade as an international wagering executive, now is the right time to move on to my next chapter. I am grateful to Entain for backing me, and particularly for the recent opportunity to work on starting the revitalization of the New Zealand racing industry.”

On 16 December, AUSTRAC said it had started legal proceedings against Entain Group after the operator was accused of systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing laws.

“AUSTRAC’s proceedings allege that Entain did not develop and maintain a compliant anti-money laundering program and failed to identify and assess the risks it faced,” Brendan Thomas, AUSTRAC CEO, said. “We are alleging this left the company at serious risk of criminal exploitation.”