Entain’s deputy Australia CEO has resigned as the company faces legal challenges over alleged money laundering.

Entain is the parent company of some of the biggest names in sports betting and gaming, running well-known gambling brands such as Ladbrokes in the UK.

As reported by The Guardian, Lachlan Fitt, who has held the company’s chief financial officer position since 2018, announced his departure from the gambling giant earlier this week.

Fitt said: “After a decade as an international wagering executive, now is the right time to move on to my next chapter.

“I am grateful to Entain for backing me, and particularly for the recent opportunity to work on starting the revitalization of the New Zealand racing industry.”

It’s Entain’s third major blow after losing the NZ managing director Cameron Rodger and global CEO Gavin Isaacs, who took the position in September last year.