ICONIC Australian cartoonist Larry Pickering has denied he was involved in a sports betting operation that saw more than 100 investors across Australia lose millions of dollars in life savings.

Pickering, 68, who lives on the Gold Coast, is best known for his political cartoons in the 1970s and 1980s.  THE SYDNEY TELEGRAPH reports he is alleged to have used an alias as a salesman, selling software for a scheme that urged people to invest in a Hong Kong sports trading company that has since folded.

The scheme has been reported to police in three states, including NSW, and the Australian Federal Police. The corporate regulator ASIC has been told of the failed scheme by receivers for the company, which saw many investors financially devastated.

Yesterday Mr Pickering said the claims were “not true”.

“I don’t know where all this comes from,” he said. “It’s rubbish.”

Source: letsgohorseracing