The young mastermind behind a Perth betting scheme has been declared bankrupt and had his assets frozen as investors try to recoup up to $126 million.

9News found Chris Brown as he admitted he’s been lying low. In an exclusive interview, he claimed the missing money is as safe as houses.

The 27-year-old said there’d be no issues with finding the $126 million he says he still has.

Chris Brown, the mastermind of a Perth betting scheme, has been declared bankrupt. (9News)

When asked why he doesn’t pay his investors back, Mr Brown said it was in the courts at the moment and the receivers will handle it, and described it as being “safe as houses”.

Mr Brown has been living a glamorous and lavish lifestyle. He was photographed with AFL stars, on golf courses and in the company of numerous young women.

But there’s also another picture of people chasing him for money, including business owners Kade Lang and Adam Wilson, property developer John Norup, top race caller Darren McAullay and even his grandparents Joan and Clarence Donovan.

Investors claim they’re owed a total of $126 million.

Mr Brown told 9News his investors’ money was “safe as houses”. (9News)

The former Aquinas College student claimed he made massive winnings through a hedging model capitalising on the odds of horses shortening before a race.

Mr Brown regularly sent the investors screenshots of bank statements showing millions of dollars in the accounts they thought he controlled.

He’s recently been telling people that he was audited by the Australian Tax Office, which took $38 million from his accounts.

The 27-year-old was today declared bankrupt in Federal Court.

The 27-year-old had lived an apparently lavish lifestyle. (9News)

His grandparents have even sued him after failing to repay more than $82,000 to them for more than a year.

Despite claiming to have $172 million in his account, Mr Brown didn’t hire a lawyer.

His bank accounts are frozen and any assets he has left will be seized.

His investors need to wait another two weeks until they find out where their money is or if it’s gone forever.

This content first appear on 9news

Leave a Reply

Your email address will not be published.