Flogging a dead horse – redux

The Irish Times reports from Dublin High Court, where convicted drug dealer John Gilligan, giving evidence yesterday in a case taken by him to block the Criminal Assets Bureau seizing properties from him and his family, told the court that the bulk of his wealth came from gambling.  From the Irish Times

When some of his evidence suggested betting runs in which he doubled his money Mr Justice Feeney asked him: “Have you ever heard of any gambler making a 100 per cent profit?”

Gilligan replied: “Professional gamblers, yes.” He had not kept the money in bank accounts. He did not trust banks and the recession had proven him right, he said.

Mr Feeney pointed out that records compiled by Cab revealed that he, Gilligan, had bet £4.8 million on horse races. Gilligan, who is serving a 20-year sentence for drugs offences, said he had borrowed £4 million from a man called Joseph Sauma.

When asked by Mr Justice Feeney what security he had offered against the loan Gilligan replied: “My word.”

Mr Justice Feeney inquired if Gilligan had kept books or accounts relating to his long-term gambling record.

“You’ll know if you’re losing and you’ll know if you’re winning; it’s not rocket science,” Gilligan said. He conceded he had kept no formal record as proof of his full gambling income. “I had the money as proof, if that’s not proof enough I don’t know what is.”

Hmm… notorious gambler, unaccounted-for large sums of money, winning on the horses…  Where have I heard that story before