Horse Racing Addict Embezzles $4 Million

Townsville lawyer Alex Baxter had a gambling addiction to horse racing, former partners say
Roanne Johnson
From: Townsville Bulletin

TOWNSVILLE solicitor Alex Baxter, under investigation for allegedly embezzling up to $4 million from clients, had a gambling addiction to horse racing.

North Queensland legal firm Ruddy Tomlins Baxter reported the 52-year-old to the Queensland Law Society and on July 15 this year an investigation was launched.

It is focused around the alleged misappropriation of funds and improper dealings with 24 clients' accounts by Mr Baxter, a 30-year partner of the predominantly family-run firm.

Ruddy Tomlins Baxter managing partner Sandra Clive said on Thursday that Mr Baxter, who worked out of the Walker St office in Townsville, had allegedly made the betting confession to law society investigators.

"It has become clear, during preliminary investigations conducted so far, that certainly gambling is a factor," Ms Clive said.

"I understand from the statement given (by Mr Baxter) that is was principally online gambling and predominantly the horses."

The partner said she was not aware of any particular betting habits of Mr Baxter or that he even had a gambling problem, until it was uncovered by colleagues.

But it is believed that the Annandale family man may have placed high-rolling bets, including an alleged million dollar wager on an odds-on favourite that was beaten.