## Lottery Firm Leader Imprisoned for Financial Misconduct
The chief executive of lottery operator Capen Limited has been incarcerated for three months after being convicted of embezzling £285,000 from a philanthropic organization.
Simon Readings, 50, of Edinburgh, was managing a lottery for Sheffield Hospitals Charity but neglected to transfer the funds to the charitable institution. He was also mandated to reimburse the charity £1,000 within 18 months of his release.
Readings’ enterprise, Capen Limited, had its operating permit revoked by the Gambling Commission last December. The company, which conducts charitable lotteries, including small lotteries, sports lotteries and Zaffo, as well as the now-defunct Children’s Lottery, was granted an operating license in 2014 and a software license in 2017.
The court was informed that Readings utilized the £285,000 for other business expenditures, and he was unable to fully reimburse the charitable organization.
Helen Venn, executive director of the Gambling Commission, stated that Readings “completely failed as the CEO of a company with a Gambling Commission license” and is now “facing the consequences”.
Within this nation, lottery earnings can solely be utilized for the benefit of the public – charitable organizations and other non-profit entities depend on lottery income to sustain the crucial work they undertake,” Venn clarified.
“Citizens in this country ought to be aware that when they purchase a lottery ticket, they are contributing to the support of their preferred charities – we will not waver in taking action against those who mismanage funds like Rydings.”
The Gaming Commission recently obtained concluding applications for the fourth National Lottery permit, aiming to choose a favored operator by the beginning of 2022.
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