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Discussion on Concealed Ownership/Racing Horses in Trust
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New Member:
Horseguy
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Posted on Wednesday, Feb 15, 2006 - 1:27 am:
I am very interested in information concerning concealed ownership in Standardbred racehorses. I've discovered that someone (person X) is holding my friend's horses in "trust" in his name, even though they own the horse together in a holding company. The reason the guy did this is because the race winnings are paid to the registered owner, so the guy was able to steal the cheques. My friend is suing him to try and get out and his money back, but he needs some serious leverage to get it done to hopefully settle it fast.
I called the USTA, they told me it was wrong to do that. I need something better than that in terms of evidence, can someone tell or cite me instances where people were fined/suspended for this sort of thing?
Or, is this just a nitpicky technicality?
Person X owns a lot of other horses, so if it is something serious that would endanger his license it would get his attention real fast.
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Member:
Angelvet
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Posted on Wednesday, Feb 15, 2006 - 11:28 am:
Seeker,
Hidden ownership is considered a serious offence in the racing industry and has resulted in fines and suspensions. I can't recall any specific instances since my involvement in the industry. The governing body for racing in the area the horses are located may be of assistance in the matter of these horses. The USTA could direct you to a contact person for that area.
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New Member:
Horseguy
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Posted on Thursday, Feb 16, 2006 - 1:42 am:
Oh - I did forget to mention - I will pay fairly well for this sort of research. Anyone who can cite a few good case/ruling histories with backup documentation will be well compensated for their efforts -- feel free to email me at anytime at jrothsberg@yahoo.com if you have more questions about this, etc.
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