A Brisbane real estate agent and racing identity defrauded his clients of more than $1.6 million to fund a multimillion-dollar gambling habit.

James Robert Ray Lyons, 38, earned as much as $2 million a year as a commercial real estate agent, but even that was not enough to cover the cost of an addiction that led him to gamble away almost $3.5 million over two years. Lyons confessed to his fraud only…