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Phoenix Thoroughbreds-gone!

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monty1 View Drop Down
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    Posted: 25 Nov 2019 at 10:45am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bonjour Quote  Post ReplyReply Direct Link To This Post Posted: 25 Nov 2019 at 12:06pm
Originally posted by monty1 monty1 wrote:

 https://www.racingpost.com/news/phoenix-thoroughbreds-founder-accused-of-stealing-eur100m-from-global-ponzi-scam/410788

Noticed a tweet on Saturday that mentioned the impending drama around Phoenix, and also mentioned in this tweet were rumblings of another global thoroughbred entity about to hit the headlines....
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SkyDancer Quote  Post ReplyReply Direct Link To This Post Posted: 25 Nov 2019 at 12:07pm
Phoenix Thoroughbreds founder Amer Abdulaziz Salman has been named as a key figure in a major money-laundering operation for an international cryptocurrency fraud from which he allegedly stole €100 million before launching his global racehorse ownership enterprise, a US court heard this month.

The stunning claim came during the testimony of Konstantin Ignatov, the co-founder of fake cryptocurrency OneCoin, as part of the trial of US lawyer Mark Scott, who on Thursday was found guilty of fraud and laundering $400m in illegal funds for the OneCoin founders.

The Racing Post has been unable to verify the allegation, made under oath in a New York court, and multiple attempts to contact Abdulaziz for comment over the weekend have been unsuccessful. Abdulaziz's bloodstock agent, Dermot Farrington, is understood to have quit his role after becoming aware of the accusation.

Dubai-based Abdulaziz, 56, launched Phoenix Thoroughbreds in 2017 as the “world’s first regulated thoroughbred fund” and has since become one of the most high-profile figures in international racing and bloodstock, often flexing the significant financial muscle of his fund at the sales and through private purchases.

Ignatov, who pleaded guilty this month to money-laundering and fraud as part of the estimated $4 billion scam, has been cooperating with US prosecutors and alleged Abdulaziz was one of the operation’s web of money-cleaners under the guidance of Gilbert Armenta, boyfriend of OneCoin’s other co-founder Dr Ruja Ignatova.

Asked in court who Armenta worked with, Ignatov said: “Mark Scott, Amer Abdulaziz and Alex Ortega.”

Ignatov went on to claim Abdulaziz stole from the scam, which involved the creation of a fake cryptocurrency that investigators say in fact amounted to a Ponzi scheme.

He said: “Amer Abdulaziz, after he stole €100m from OneCoin, he started buying racehorses for, like, €25m. [He was] one of the main money-launderers for Ruja.”

Ignatov added the theft was not reported as “the money came from a criminal activity”, while Abdulaziz is allegedly named in emails between Ruja Ignatova and her co-conspirators.

The Racing Post has also seen a draft transcript of the September 2018 interview between Mark Scott and FBI agents after he was arrested on suspicion of money-laundering, in which he claimed a Dubai-based investment fund named Phoenix was sent $190m.


In an interview earlier this year, Abdulaziz said he created Phoenix as an equine investment fund geared towards providing investors with a "sustainable return realised through acquisition and breeding of top-quality thoroughbreds" and claimed to have raised $250m.

However, Abdulaziz has never disclosed who his investors are – citing a desire to protect his client base – other than to say they are “non-racing people”. He has talked about his plan to launch a second, larger fund having used the first fund as a promotional tool.

Having initially had horses solely with former Newmarket trainer Jeremy Noseda, Phoenix has since mushroomed to having an estimated 300 horses under its banner, including stallions and broodmares, with 27 trainers on five continents, according to its website.

However, there have been controversies during Phoenix’s time with Noseda. Kerri Radcliffe, Abdulaziz's first bloodstock agent, was fired by him last year and he has since relied on Farrington, the son-in-law of Advertise’s trainer Martyn Meade, for his buying.

Phoenix and Abdulaziz have enjoyed significant success on the racecourse worldwide including Grade/Group 1 wins in the US and Australia, alongside the Royal Ascot victories of Signora Cabello in the 2018 Queen Mary Stakes and Advertise in this year’s Commonwealth Cup, a race in which Forever In Dreams finished second for Phoenix Ladies, a female-only arm of the Phoenix brand created in late 2018 with the aim of increasing the participation of women in racing in the UAE.

The US Attorney’s Office for the Southern District of New York, which prosecuted Mark Scott, declined to comment on Sunday when asked if Abdulaziz was a person of interest, while the FBI said it “neither confirms nor denies” having an interest in the Phoenix founder.

Comment has been sought from law enforcement agencies in the UK.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote ianb Quote  Post ReplyReply Direct Link To This Post Posted: 25 Nov 2019 at 6:43pm
kissen blow ins.  This group, Damien Flower, money laundering, drugs , this is what ruins the integrity of racing, I wonder what major international player will be next to be corrupt. China Horse Club? 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Second Chance Quote  Post ReplyReply Direct Link To This Post Posted: 25 Nov 2019 at 6:46pm
On what basis do you make that claim Ian? 

There appears no real comparison between the principles.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Straight arrow Quote  Post ReplyReply Direct Link To This Post Posted: 25 Nov 2019 at 10:21pm
And what’s going on in our backyard at Wangaratta? Hmm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bonjour Quote  Post ReplyReply Direct Link To This Post Posted: 26 Nov 2019 at 9:55am
There was an application last month to wind up the fund behind Phoenix last month in Luxembourg, there is a new application to wind them up as we speak.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ianb Quote  Post ReplyReply Direct Link To This Post Posted: 26 Nov 2019 at 5:24pm
second Chance I love the industry but it seems that new players come in a spend a fortune and then eventually get caught out like the above mentioned.  There are and always will be a lot of sharks in this industry, that is the most annoying part of it all.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Second Chance Quote  Post ReplyReply Direct Link To This Post Posted: 26 Nov 2019 at 5:34pm
Agree entirely ianb, though from what I read the China Horse Club appears to be on the up and up.

Watch this space for my apology should that not prove to be the case.  Shocked
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Post Options Post Options   Thanks (0) Thanks(0)   Quote International Quote  Post ReplyReply Direct Link To This Post Posted: 27 Nov 2019 at 5:45am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bonjour Quote  Post ReplyReply Direct Link To This Post Posted: 27 Nov 2019 at 7:37am
Surely, for true transparency and good governance we now need a regulatory body to scrutinise all the 'foreign' thoroughbred  investors that have arrived from 'nowhere' and with gazillions! Or, is it, they are too frightened as to what might surface?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bonjour Quote  Post ReplyReply Direct Link To This Post Posted: 27 Nov 2019 at 7:39am
Does it also mean that their horses are stood down immediately pending further investigation and information?

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Straight arrow Quote  Post ReplyReply Direct Link To This Post Posted: 27 Nov 2019 at 10:25am
I would be very careful of were the money is coming from ; with these new Chinese stud/Sydndicats popping up in our racing at the moment?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Second Chance Quote  Post ReplyReply Direct Link To This Post Posted: 28 Nov 2019 at 2:22pm
Originally posted by Second Chance Second Chance wrote:

Agree entirely ianb, though from what I read the China Horse Club appears to be on the up and up.  Watch this space for my apology should that not prove to be the case.  Shocked

Just for info, though not related to Phoenix, here is some info about those associated with the China Horse Club:

"The China Horse Club continues to be supported by the CHC International Advisory Council (IAC).  The IAC has enjoyed, or currently enjoys, the patronage and support of individuals of the calibre of Professor Dr. Joseph Deiss (former President of the Swiss Confederation and President of the 65th Session of the United Nations General Assembly); the Honourable John Warren (Bloodstock Advisor for Her Majesty Queen Elizabeth II); Mr Andreas Jacobs (Chairman of Investment Firm Jacobs Holdings AG, Chairman of INSEAD and successful entrepreneur); Mr Wayne Wang (Chairman, CEO and Founder of CDP Group, Limited); Sir Owen Glenn (New Zealand philanthropist and leading businessman); Mr John Magnier (owner of thoroughbred industry shaper Coolmore and leading businessman); Mr Poh Choon Ann (Group Chairman and CEO of Poh Tiong Choon Logistics Group); Dato Tan Chin Nam (Founder of IGB Corporation and former leading owner) and Ar. Teo Ah Khing (Chairman and Founder of TAK Group and CHC).
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Batman Quote  Post ReplyReply Direct Link To This Post Posted: 03 Dec 2019 at 12:42pm
Originally posted by Second Chance Second Chance wrote:

Originally posted by Second Chance Second Chance wrote:

Agree entirely ianb, though from what I read the China Horse Club appears to be on the up and up.  Watch this space for my apology should that not prove to be the case.  Shocked


Just for info, though not related to Phoenix, here is some info about those associated with the China Horse Club:

<span style="color: rgb51, 51, 51; font-family: "Times New Roman", serif; font-size: 14px;">"The China Horse Club continues to be supported by the CHC International
Advisory Council (IAC).  The IAC has enjoyed, or currently enjoys, the patronage and support of individuals of the calibre of Professor Dr. Joseph Deiss (former President of the Swiss Confederation and President of the 65</span><span style="-sizing: border-; font-size: 10.5px; line-height: 0; : relative; vertical-align: line; top: -0.5em; color: rgb51, 51, 51; font-family: "Times New Roman", serif;">th</span><span style="color: rgb51, 51, 51; font-family: "Times New Roman", serif; font-size: 14px;"> Session of the United Nations General Assembly); the Honourable John Warren (Bloodstock Advisor for Her Majesty Queen Elizabeth II); Mr Andreas Jacobs (Chairman of Investment Firm Jacobs Holdings AG, Chairman of INSEAD and successful entrepreneur); Mr Wayne Wang (Chairman, CEO and Founder of CDP Group, Limited); Sir Owen Glenn (New Zealand philanthropist and leading businessman); Mr John Magnier (owner of thoroughbred industry shaper Coolmore and leading businessman); Mr Poh Choon Ann (Group Chairman and CEO of Poh Tiong Choon Logistics Group); Dato Tan Chin Nam (Founder of IGB Corporation and former leading owner) and Ar. Teo Ah Khing (Chairman and Founder of TAK Group and CHC).
</span>

Sorry to nit pick but Dato Tan Chin Nam passed away more than a year ago
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Second Chance Quote  Post ReplyReply Direct Link To This Post Posted: 03 Dec 2019 at 12:49pm
Sorry to nit pick, however "....The IAC has enjoyed, or currently enjoys, the patronage and support of individuals of the calibre of... Dato Tan Chin Nam".
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Post Options Post Options   Thanks (0) Thanks(0)   Quote acacia alba Quote  Post ReplyReply Direct Link To This Post Posted: 03 Dec 2019 at 3:12pm
Good you pointed that out Batman, as I thought I must have been suffering Oldtimers Confused  I was sure I had heard Dato had passed away ages ago, but when it was posted and seemed to be pretty official posting, I thought I had lost me marbles.  Embarrassed
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Second Chance Quote  Post ReplyReply Direct Link To This Post Posted: 03 Dec 2019 at 3:59pm
Please re-read the article.  No-where does it suggest that Dato is still with us.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Second Chance Quote  Post ReplyReply Direct Link To This Post Posted: 13 Dec 2019 at 6:10pm
It's interesting that more than a couple here are eager to point the finger at allegedly shonky Asian and middle-eastern operators in Australia.Without supporting evidence.

However thus far the exposed shonks in Oz are almost exclusively caucasians and/or home-breds, such as Vlahos, Flower, another in WA, and one other with US links.

So imo it's clearly time to cease the racially or ethnically profiled innuendo.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TJMitchell Quote  Post ReplyReply Direct Link To This Post Posted: 13 Dec 2019 at 6:21pm
much easier to bust the locals locally
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Second Chance Quote  Post ReplyReply Direct Link To This Post Posted: 13 Dec 2019 at 6:33pm
So TJ, you're suggesting...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Straight arrow Quote  Post ReplyReply Direct Link To This Post Posted: 13 Dec 2019 at 8:34pm
Who’s next?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Carioca Quote  Post ReplyReply Direct Link To This Post Posted: 13 Dec 2019 at 9:41pm
Who's on first.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Carioca Quote  Post ReplyReply Direct Link To This Post Posted: 14 Dec 2019 at 12:07am
Originally posted by Carioca Carioca wrote:

Who's on first.

Gone through to the keeper .....after all its been a long time.
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Post Options Post Options   Thanks (1) Thanks(1)   Quote TJMitchell Quote  Post ReplyReply Direct Link To This Post Posted: 10 Aug 2020 at 6:49pm
Phoenix Thoroughbreds vice president Tom Ludt has become the latest high-profile racing professional to cut ties with the troubled organization, citing concerns over allegations that money from a fake cryptocurrency revealed to be a global Ponzi scheme may have been invested in the self-styled "world's first regulated Thoroughbred fund."

Ludt, a former Breeders' Cup chairman who oversaw the day-to-day running of Phoenix Thoroughbreds since joining the big-spending outfit in December 2017, said he accepted a termination agreement after confronting founder Amer Abdulaziz Salman over claims he was linked to the fraudulent cryptocurrency OneCoin, allegations that emerged in a New York court last year.

Abdulaziz denies the allegations, which first came to widespread public attention in November when they were reported in the Racing Post.

They concern stunning claims made during the New York trial of Mark Scott, a former lawyer, that Abdulaziz was involved in handling proceeds from OneCoin, which is estimated to have scammed $4 billion out of victims who believed they were investing in a cryptocurrency like Bitcoin but had actually been duped into joining a sophisticated pyramid scheme.

Court testimony alleged Abdulaziz and his Phoenix Fund Investments, the Dubai-registered parent company of Phoenix Thoroughbreds, were a key component of the network washing money for those behind the fraudulent scheme, which has been described as one of the biggest financial scams ever perpetrated.

Following the publication of these explosive allegations—which are categorically denied by Phoenix—Ludt sought further assurances from his then-employer that the claims were without foundation. 

According to Ludt, Abdulaziz denied any involvement in OneCoin but allegedly admitted that Scott, who faces up to 50 years in prison for his role in the scandal, put money into Phoenix via a series of investment vehicles called the Fenero Funds. These funds were used to launder $400 million in OneCoin proceeds.

Ludt, speaking for the first time since leaving Phoenix, told the Racing Post: "(The Racing Post story) was the first I heard of (the allegations), so I was shocked. We had discussions afterwards, and (Abdulaziz) completely denied that he had anything to do with it. I don't remember the exact dates, but there was some dialogue, and I point blank asked what the heck was going on because I'd spent the last 2 1/2 years of my life traveling the world for this company and I didn't want to get dragged down with a bad reputation.

"He's continually denied it and he's indicated he had investors from (Fenero) but never OneCoin. I've never been involved (in the fund), so I don't know, but everything's changed since then. I continued to ask him to do some interviews with the press to talk about it, and he just wouldn't do it. Everything changed when that came out. 

"He told me that Mark Scott invested (in Phoenix) through Fenero, but that's all I knew. He did not deny Fenero funds had gone into Phoenix."

Scott is awaiting sentencing after being found guilty of conspiracy to commit money laundering and conspiracy to commit bank fraud late last year. The former lawyer was found to have established a series of funds, collectively known as the Fenero Funds, to route OneCoin cash between destinations.

U.S. prosecutors allege €185 million was sent from one such fund, Fenero Equity Investments (Ireland), to Phoenix Fund Investments, the Dubai-based fund of Abdulaziz, between January and April 2017. 

Courtroom testimony from convicted fraudster Konstantin Ignatov, the brother of OneCoin founder Dr. Ruja Ignatova, alleged that Abdulaziz was a key player in the scam, before he supposedly turned on his co-conspirators and stole €100 million.

Ignatov testified at the trial that Abdulaziz subsequently "started buying racehorses for, like, €25 million. (He was) one of the main money-launderers." He added the theft was not reported, as "the money came from a criminal activity."

Phoenix Fund Investments and Abdulaziz did not respond to requests for comment from the Racing Post, but when the allegations first came to light in November issued the following statement:

"Phoenix Fund Investments categorically denies all allegations made against it, and its owner, Mr. Amer Abdulaziz, in legal proceedings against OneCoin and its conspirators in the U.S. Phoenix Fund Investments believes that the firm and Mr. Amer Abdulaziz have acted according to the law at all times, and will vigorously contest all allegations of wrongdoing. Phoenix Fund Investments will fully cooperate with relevant authorities should they require any assistance."

Abdulaziz and Phoenix representatives have declined to respond to any specific questions submitted by the Racing Post since November.

Among the allegations Abdulaziz has yet to address is one relating to the apparent use of the Phoenix Business Center, a serviced office facility in a Dubai skyscraper and one of a number of businesses controlled by Phoenix Fund Investments, as a OneCoin office. 

In December, the Racing Post obtained video and social media evidence that demonstrated OneCoin, which has now all but collapsed as its key players have been arrested or gone underground following a series of criminal investigations and media exposes, operated in the Phoenix premises from November 2017 until around the spring of 2018. The footage does not show whether Abdulaziz knew of the arrangement, but he has offered no comment on how OneCoin came to be based there, or the extent to which he was involved with or aware of its activities.

Abdulaziz also initially declined to comment on a Racing Post report that revealed his much-vaunted Thoroughbred investment fund, which he repeatedly claimed was based in Luxembourg and was "the only regulated (Thoroughbred) fund worldwide," had been placed into voluntary liquidation and never operated as a functioning fund after the investment manager approached to run it walked away during the due diligence phase.

In January, almost two months after that report appeared, Phoenix released a statement saying it took the decision in June 2019 to "formally dissolve the registered fund (in Luxembourg) before it received any investor monies or became operational."

To date, Abdulaziz has declined to identify a single investor in the Phoenix fund, citing client confidentiality, nor have any investors independently come forward to substantiate the fund's legitimacy. Despite his seniority in the organization, Ludt claimed he also never met or knew the identity of any investors.

Phoenix Thoroughbreds continues to operate in multiple jurisdictions and in July had a runner in the Investec Oaks (G1) at Epsom. In November, the British Horseracing Authority said it would be "making inquiries as a priority" into Phoenix. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TJMitchell Quote  Post ReplyReply Direct Link To This Post Posted: 11 Aug 2020 at 9:03pm
CONFIRMED - Phoenix Thoroughbreds will cease racing operations in the United Kingdom and the process will start with immediate effect.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Red Hare Quote  Post ReplyReply Direct Link To This Post Posted: 12 Aug 2020 at 12:12am
”Jadeskye (Mgr D W Flower)” are still collecting cheques, so I wouldn’t hold my breath that the same will happen out here.

Maybe old mate will ship all of his runners down under LOL
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Batman Quote  Post ReplyReply Direct Link To This Post Posted: 12 Aug 2020 at 2:19pm
Originally posted by Red Hare Red Hare wrote:

”Jadeskye (Mgr D W Flower)” are still collecting cheques, so I wouldn’t hold my breath that the same will happen out here.

Maybe old mate will ship all of his runners down under LOL
Nowhere else in the world would a person in jail would be able to race horses. Love this country LOLLOLLOL
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Post Options Post Options   Thanks (0) Thanks(0)   Quote djebel Quote  Post ReplyReply Direct Link To This Post Posted: 13 Aug 2020 at 8:18pm

PHOENIX THOROUGHBREDS TO CONTINUE TO INVEST IN AUSTRALIAN RACING AND BLOODSTOCK

DUBAI, AUGUST 2020 – Following the announcement of our intention to cease racing the U.K. we at Phoenix Thoroughbreds wanted to reaffirm our long-term commitment to the Racing and Bloodstock industries in Australia.
We have enjoyed a lot of success both on and off the track in Australia and plan on continuing to invest in both racing and breeding stock.

We have already been active at the recent Magic Millions National Broodmare Sale, adding four top-quality assets to our breeding operation, while alongside our trusted partners we have purchased yearlings to go into training. The private market is also an avenue we have been busy in recently and over the last few weeks, we have finalised our breeding plans for our mares with leading stud farms.

We also like to take this moment to thank the Racing authorities, State governments, our trainers and their staff for working so hard to keep the sport on the road during these challenging times. All done without sacrificing the World-class product Australia has.

Phoenix Thoroughbreds CEO Amer Abdulaziz Salman Said:

“For any ownership group like ours, especially with breeding ambitions, having horses in Australia is a must. With its World-leading facilities, top-class trainers and levels of prize money, the market is a cornerstone of our business.

“The likes of Loving Gaby, Prague, homebred Farnan and others have given us plenty of reasons to smile over the past few years and we can’t wait to see how they progress this season. We also have some exciting youngsters that we hope can follow in their hoofprints.

“This coming breeding season we will be welcoming a record number of Phoenix Thoroughbreds bred foals, all by top stallions such as I Am Invincible, Zoustar, Invader and The Autumn Sun, to name just a few. Couple this with the fact we still retain shares in Coolmore winner and new stallion Exceedance, the future looks very bright as we look to build a legacy of success on the farm, in the sales ring and on the track.

“We enjoy strong relations with our partners, who hold similar ambitions to ourselves while the whole industry has been very supportive. We look forward to a long and prosperous future in Australia.”

Any further questions or Media enquiries, please contact phoenix@thephagroup.com





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Post Options Post Options   Thanks (0) Thanks(0)   Quote TJMitchell Quote  Post ReplyReply Direct Link To This Post Posted: 15 Aug 2020 at 9:19pm

Report: Phoenix Thoroughbreds banned from France


Reports have emerged that the international racing operation Phoenix Thoroughbreds has been banned from racing horses in France in the wake of money laundering allegations.

UK newspaper Racing Post has reported France Galop has decided not to allow Phoenix Thoroughbreds to race horses in that jurisdiction from Friday.

France Galop has not confirmed the Racing Post report.

Phoenix Thoroughbreds has been the subject of controversy since founder Amer Abdulaziz Salman was named in a US court proceedings as being involved in a huge money laundering operation.

Abdulaziz has also been accused of siphoning cash from the shady cryptocurrency busines OneCoin.

He has always denied the allegations.

Phoenix Thoroughbreds announced earlier this month that it would stop racing horses in the UK.

The company blamed the Racing Post commentary about the situation for its decision.

“The company has conducted itself appropriately, despite certain media outlets claiming otherwise,” Abdulaziz said in a statement.

“It is in no small part down to the unfair treatment from an industry media outlet that this decision has been taken.

Phoenix Thoroughbreds races horses in Australia, including Group I winner Loving Gaby and Golden Slipper winner Farnan, and reaffirmed its commitment to racing and breeding here.

“For any ownership group like ours, especially with breeding ambitions, having horses in Australia is a must,” Abdulaziz said.

“With its World-leading facilities, top-class trainers and levels of prize money, the market is a cornerstone of our business.”

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