PAC Capital was forced to liquidate its e-sports gaming fund.

Larcombe and PAC Capital chairman Harvey Kalman did not respond to a request for comment on Tuesday. Mr Larcombe has reportedly handed over day-to-day control of PAC Capital to Mr Kalman.

The two dissolved funds had assets worth $25 million, according to public statements, which included a stake in the online betting site, Picklebet, which Mr. Larcombe controlled in a private capacity. In February, Larcombe predicted Picklebet would be worth $100 million this year.

He has previously said shared ownership ensured his interests were aligned with PAC Capital’s investors, many of whom are clients of a Victorian accountancy firm called DMG Partners, which is part-owned by Count Ltd, a listed company.

Inconsistencies in published information about Buck Capital’s funds, wide fluctuations in their value and negative publicity about Larcombe’s qualifications and property purchases led to a mass withdrawal by investors that only stopped when its trustees froze four of its funds in August. Two of these boxes have now been reopened for redemption.

DMG’s selling directors and PAC Capital participants, Matthew Jones, Ben Lancaster and Charles Baguley, did not respond when asked whether they had advised clients to withdraw their funds from PAC Capital.

There appears to be no mention on PAC Capital’s website of the decision to close the two funds, although the relevant performance reports have been removed.