KEY details given by punters' club mastermind Bill Vlahos to lawyers about his business partner have been revealed as fake.

The Herald Sun visited the Dubai address provided to court for Daniel Maxwell - who it is claimed laid all the bets for The Edge punting club - only to find the occupants knew nothing of a Mr Maxwell.

STEPHEN DRILL and DAVID HURLEY report that as several syndicate leaders now question whether Mr Maxwell exists, other details have emerged of the opulent lifestyle Mr Vlahos enjoyed as the fortunes of his betting syndicate members crumbled around him.

In March as the multi-million-dollar syndicate foundered, Mr Vlahos flew two young Melbourne strippers to the Middle East to party with him at the Dubai World Cup race meeting.

The 48-year-old flew them out first-class and put them up at the famous sail-shaped Burj Al Arab, which claims to be the most luxurious hotel in the world.

The lavish trip occurred at the same time his punting club, which investors say now owes them $500 million, was imploding. Several months earlier, he splashed out on luxury Crown hotel rooms during the Melbourne Cup carnival.

The Herald Sun this week found a family living at Mr Maxwell's purported Dubai address, and they had no knowledge of him.

A woman resident, who asked not to be named, said she and her family had been in the house for two years.

The previous tenant was a German man who had lived there for three years, she said.

His name was neither Daniel nor Maxwell.

Neighbours and the security guard at the complex all agreed that they had never heard of a Mr Maxwell.

Mr Vlahos previously told the NSW Supreme Court that Mr Maxwell had access to millions of dollars, which have disappeared from a Westpac account linked to the punters' club.

Mr Vlahos's trip to Dubai with the two strippers came after he met the girls in a popular Melbourne gentlemen's establishment.

Mr Vlahos took an immediate liking to the girls and often paid them to attend various business functions with him.

One source said Mr Vlahos hosted wild parties in the presidential suite of the Dubai hotel, often referred to as the only seven-star hotel in the world.

"Bill was accompanied by about six blokes on that occasion. He was doing some business with them and trying to impress," the source said.

"He paid for them to go to Dubai with him because he liked having a bit of eye candy on his arm.

"One of the girls in particular he became very fond of. He became very unhappy and jealous that she continued to work as a stripper."

The jaunt to Dubai came just days before Mr Vlahos was accompanied by the same strippers to the Inglis Easter sales in Sydney, where he made a $5 million winning bid for Black Caviar's half-brother Jimmy.

Inglis say they are still owed $5.7 million by BC3 Thoroughbreds - of which Mr Vlahos was chairman prior to resigning and the company going into administration.

A punters' club investor said members were angry Mr Vlahos had been living the high life while rank-and-file members have lost their homes.

"I was his friend, now he won't return my calls," he said. "He's been portrayed as a family man and he's not that person."

Mr Vlahos failed to appear in Sydney on Thursday after phoning in one hour before his hearing was due to begin. He said he was bankrupt and unable to afford the airfare from Melbourne.

Aloga, a front company for several in the club, is suing Mr Vlahos for $26 million.

Details of Mr Vlahos's high-rolling lifestyle emerged as creditors of BC3 Thoroughbreds also met in Geelong on Thursday.


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