Feeds

Racing software blag turns sour

Odds-on you'd have to be an idiot to fall for that sort of thing anyway

  • alert
  • submit to reddit

Build a business case: developing custom apps

A scamster who sold software that "guaranteed" success when having a flutter on the horses has been banned from being a company director for 13 years. Kevin John Robinson's West End company, Comstrad, sold get-rich-quick horse-racing software at £3300 a pop to gamblers. He also flogged pools programmes for £9995. In total, £4.5 million of software was shifted to at least 2000 people, said the Department of Trade and Industry in today's Financial Times. The company was wound up by the High Court in October 1996 with debts of £457,233, excluding claims from customers. The court found Comstrad had carried on its business by conducting a serious fraud on the public. Before it was closed down, Comstrad was visited by a journalist from Personal Computer World magazine who was shown around offices in London's exclusive St. James's. He reported a scheme where punters used a £500 stake pool to back only the three biggest-money races on Saturdays. Each bet had to be exactly five per cent of the remaining pool, with Comstrad promising to return any initial losses. Even in a worst case scenario, this still left the company with around £2500 cash from each customer. The software itself also left a lot to be desired. The DOS-based program had no database, no way of saving a horse's record and no means of accessing online information. The Register would like to say that it in no way condones betting, but a search of our own database today threw up the favourite at the 5.30 at Chepstow. ®

Boost IT visibility and business value

More from The Register

next story
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.