Adrian “Lambo Guy” Portelli seems to live a charmed life. With his $39 million Melbourne penthouse, fleet of supercars and penchant for extravagant displays of wealth, Portelli loves the limelight. But his company LMCT plus is now facing growing scrutiny, with many asking – is this all just an elaborate scam?
Portelli co-founded LMCT+ in 2018 along with business partner Troy Williams. The company runs monthly competitions promoted on social media, offering members the chance to win luxury cars, multi-million dollar homes and life-changing cash prizes.
LMCT+ operates via a legal loophole classifying it as a trade promotion. For fees starting at $19.99 a month, members get entries into the prize draws. Portelli claims over $25 million has been given away so far. But critics argue the odds of winning are microscopic.
Portelli’s ostentatious lifestyle has drawn attention. His reputation as “Lambo Guy” stems from once craning a $5 million McLaren Senna up to his penthouse. But where his wealth came from originally remains unclear.
Is LMCT Plus Legit Or a Reward Scam?
While LMCT+ insists all required permits are obtained, anti-gambling advocates argue the business model exploits a loophole to get rich off people’s hopes. However, supporters point to satisfied winners receiving prizes as proof of legitimacy.
State regulators have now opened investigations into LMCT plus amid growing backlash. Both Victorian and South Australian gambling authorities confirmed probes into practices and promotion tactics. But a NSW investigation last year found no concrete evidence of illegal activity.
Portelli staunchly denies any shady dealings, asserting LMCT+ is “100% legal” and properly licensed. But concerns around transparency and miniscule odds have many customers wondering if it seems too good to be true.
Portelli’s Controversial Origins
Before LMCT plus, Adrian Portelli was a relative unknown. He claims to have made millions creating apps in the US, but has never revealed the names or evidence of this.
Portelli was born in Malta and moved to Melbourne as a child. After school, he has said he turned to “the wrong crowd” and “lost his way” for some years. He remained vague about this period of his life.
His early work life included sales jobs before he met Troy Williams around 2013. Williams ran a luxury car styling shop and would become his business partner.
In 2018, Portelli and Williams launched LMCT+. The company quickly exploded in popularity off the back of its social media marketing and prize giveaways.
Portelli’s flashy displays of wealth soon followed. His $39 million, 57th floor Melbourne penthouse and assembly of luxury supercars projected an image of extravagant success.
But this ostentatious showmanship only increased suspicions around his opaque origins. Critics pointed to the similar playbook of notorious scammers like Bernie Madoff and Melissa Caddick.
Regulators Under Pressure As Scrutiny Grows
Anti-gambling advocates have called for authorities to close the “loophole” allowing businesses like LMCT+ to skirt regulations. They say the promotions clearly resemble unlicensed lotteries, just with different labels.
Over 150,000 members pay $5 million a month in fees to LMCT+, chasing the promoted dream of instant riches. But some argue the business model simply exploits and profits off people’s hopes with misleading marketing.
While Portelli points to satisfied winners, exact odds are unclear. Critics say a lack of transparency around the operations remain concerning.
For now, regulators walk a fine line. LMCT+ does technically comply with trade promotion laws, but pressure is building to overhaul regulations. State authorities continue probing for concrete violations to shut the controversial business down.
Until then, public skepticism seems likely to grow. The ostentatious displays of wealth from Portelli feed the perception that LMCT plus is simply too good to be true. But its legality remains a complex grey area that continues creating immense wealth and controversy.