Lottery boss Simon Rydings jailed for three months for depriving charity of £285,000
Simon Rydings, founder and CEO of gambling operator Capen Limited has been sentenced to jail for three months for depriving a charity of £285,000 after running a lottery on its behalf. Rydings has been directed to further pay an additional £1,000 in compensation to Sheffield Hospitals Charity within 18 months of leaving prison. Birmingham Magistrates’ Court heard the matter where Rydings failed to pass on £285,000 of lottery proceeds to the charity whilst he was the chief executive officer of Capen Limited – a gambling operator with an external lottery manager licence. During the hearing of the case filed by the UK Gambling Commission (UKGC), 50-year-old Rydings admitted misusing lottery proceeds (under the 2005 Gambling Act) between 1 January 2018 and 31 March 2020. Rydings told the court he had spent all the money on other costs running the business and that he did not have the funds to return all £285,000. Helen Venn, Gambling Commission executive director, said: “Lotteries in this country can only be run for good causes – charities and other non-commercial organisations who run lotteries rely heavily on the income they receive from lotteries to support the important work they do. “Simon Rydings completely failed as the CEO of a company with a Gambling Commission licence (ELM) and is now paying the price,” Venn added. Venn further stated: “Consumers in this country deserve to know that when they enter a lottery they are helping support their chosen cause – and we will not hesitate to take action against individuals who misuse funds in the way Rydings did.” Meanwhile, last year in December, the UKGC had suspended the operating license of charitable lottery operator as the regulator had reviewed its operations. “The review follows concerns that activities may have been carried out contrary to the Gambling Act, not in accordance with a condition of their licence and that the licensee may be unsuitable to carry on the licensed activities,” UKGC had stated in a statement dated December 2020.