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Jeff Fenech rates it as the stupidest thing he has ever done.
The former boxing champion said he lent nearly $5 million to the man at the centre of match-fixing allegations, Eddie Hayson, even borrowing against his own home.
But Fenech said he would never have lent money to a relative stranger if he had not listened to the persuasions of a former adult store king.
"I haven't been punched in the head that many times," Fenech said.
The subject of Mr Hayson's finances came up repeatedly during the hour-long press conference he held at Sydney's Intercontinental Hotel on Thursday, in which he denied any involvement in rugby league match-fixing.
When asked how he could afford to hire celebrity agent Max Markson and the historic Premier's Room, the relentless gambler and former brothel owner said he had some good wins on the track recently.
But he admitted he still owed millions to lenders such as Fenech.
On Friday, Fenech told Fairfax Media he first lent Mr Hayson $1 million around 2012. He said he continued to lend more in extra loans up until this year, convinced he would be paid back upon the sale of the Camperdown brothel Stiletto.
But Mr Hayson lost control of the brothel two years ago. Fenech said he withdrew his legal claim on the property in 2012 to make for an easier sale, on Mr Hayson's advice.
Despite his failure to pay up, Mr Hayson is not the subject of Fenech's fury.
Fenech said he was first talked into lending the money over the course of several days by Con Ange, who once owned a chain of adult stores. Fenech said Mr Ange introduced him to Mr Hayson but failed to disclose the punter's extensive debts.
"Listening to Con was the stupidest thing I've ever done," he said.
A police strike force has been set up to investigate allegations that three rugby league games involving Manly may have been fixed.
According to Fenech and Mr Hayson, Mr Ange started match-fixing rumours because the gambler had not paid him back $50,000.
Mr Ange rejected the claims on Friday.
"Eddie Hayson is a pathological liar," he said.
As for the Fenech loans, Mr Ange said he introduced the pair but never played any role in their financial affairs.
"You'll get your money back, it might just take 10 years'," Mr Ange said he told Fenech after the first deal went through.
Overwhelmed, Mr Hayson entered a personal insolvency agreement in 2014, declaring debts of $52 million. The bulk of the money had been borrowed against the brothel business, which was ceded to a family member who was owed millions.
Mr Hayson also owed Sportsbet $1.6 million and former Newcastle Knights player Luke Davico $1 million.
Three years ago, Mr Hayson borrowed $500,000 from convicted murderer Ned Bikic. The loan was secured against the Coogee home of businessman Troy Rugless, who paid Bikic $200,000 outside a courtroom last year.
Fenech he said he was trying to stay positive.
"I'm just hoping Eddie comes through this," he said.
But he indicated he was prepared to go to court to claw back money if the brothel found a buyer.
