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Layezy Racing.
Layezy Racing.
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Replies: 186
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Apparently filed for bankruptcy. No shocks there I think .
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https://www.dailymail.co.uk/sport/racing/article-6679945/Thousands-fear-money-gone-Layezy-Racing-syndicate.html
.. Not sure if thats what keeping silent meant, doesnt look good though for " investors " |
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If you are having trouble viewing this email, view as a webpage.
Dear Investor, Following an analysis of the Syndicate’s financial position, Michael Stanley, the operator of the Syndicate, has taken the decision to file for Bankruptcy. The Bankruptcy Order was made earlier today and we are liaising with the Official Receiver regarding the next steps. This will include the appointment of a Trustee in Bankruptcy to take control of the Syndicate and Mr. Stanley’s assets. We have advised the Insolvency Service of the urgency of the situation so the process of agreeing investor claims and ultimately distributing funds to investors can start as soon as possible. We are unable to discuss potential returns to investors yet. |
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That’s what my “ source “ got in an email a couple of hours ago.
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Some members claim to have as much as £500,000 in the scheme. The total amount invested is likely to amount to tens of millions.
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"so the process of agreeing investor claims and ultimately distributing funds to investors" - someone wanting to be prosecuted under the Financial Services Act couldn't have used better language.
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OP gone very quiet ????
lambs slaughter put £5000 in 4 years ago up to £35000 took £7000 out 2 weeks ago please slaughter me more please maybe he could update, or was he just lucky to get his £7K out |
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lkjhgfdsazxcvbnm • January 22, 2019 11:15 AM GMT
plc limted all above board we have horses in training all over place ... heres another rib tickler from the op. !! |
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The owners club had two very promising 2yolds - be interesting to see where they end up - especially Molaviente...potentially very smart.
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what idiot would stick £ 500,000 in a betting syndicate ? lmao
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was his post purely to scam money, knowing that they were in financial difficulty and trying to bale out or make a few more quick bucks.
RK it would surprise you how easily people part with their money, hence this wont be a one off |
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The OP is a shrewdie - he apparently is 2k up....
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well it should all come out if he is alleged to have committed fraud - i still dont understand what has been going on tbh - what happened to the investigation that the Police were involved with ?
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was his post purely to scam money, knowing that they were in financial difficulty and trying to bale out or make a few more quick bucks.
.. Thats how it would read to me The Dealer, either that or VERY unfortunate timing.! |
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It wasn't the OP. The OP was "any members on here" from someone who read the mail article. For some completely bizarre reason the thickett moderators deleted it.
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and now it looks like lkjhgfdsazxcvbnm is the OP
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... i realise Ribero posted first dave, i also thought it strange to be taken down, maybe the naming was against
rules. ?? |
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Not a surprise, and trying the Graham Bradbury route out in going bankrupt, hoping FCA will take action before police so he wont go to prison. Reality is there is no money, and the assets are his house and horses, which wont save his arse. 100% ponzi.
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From the Daily Mail;
Members of a betting syndicate who appear to have lost tens of millions in savings believe they are the victims of a 'Ponzi' scheme set up by a former Kent police officer. Mike Stanley, who closed his Layezy Racing betting syndicate and racing owners club this month, filed for bankruptcy on Monday in the latest devastating blow to investors. Duff and Phelps, the insolvency experts appointed by the 62-year-old, said in a statement on Monday night: 'Following an analysis of the syndicate's financial position, Michael Stanley, the operator of the syndicate, has taken the decision to file for bankruptcy. 'The Bankruptcy Order was made earlier today and we are liaising with the Official Receiver regarding the next steps. We have advised the Insolvency Service of the urgency of the situation, so the process of agreeing investor claims and ultimately distributing funds to investors can start as soon as possible. We are unable to discuss potential returns to investors yet.' Sportsmail revealed last month that millions being paid into the syndicate was being spent on buying horses by Stanley rather than to place bets. The 5,000 members of the syndicate have been told to contact Duff and Phelps with details of how much they invested. In some cases, people put in more than £500,000 in the belief Stanley's system for placing bets was doubling and sometimes even trebling their investments. Now members fear most of their money has been lost in what, they say, Duff and Phelps have told them was a 'Ponzi' scheme — one which pays profits to earlier investors with funds obtained from more recent investors. One Layezy member, who is believed to be among those who have invested vast sums in the syndicate, said Duff and Phelps had told him that, while calculations are still being made, the shortfall could be as much as £70million |
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maybe he meant he'd invested 5k and got 7 quid out?
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k sera elise
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No more lambs left to slaughter, it seems.
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Now it seems this Stanley character has gone to the old bill after receiving some hurty words.
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hurty words?
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https://www.youtube.com/watch?v=TRTkCHE1sS4
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Nice to see greed and stupidity being justly rewarded
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There hasn't been any investigation yet with regards to what was going on - when will this be happening from an impartial point of view and not from anonymous sources ?
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Rozel why not put your cards on the table as regards your Particular intrest in the case, truth usually outs in the end.
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So Mr Stanley files for bankruptcy,which means that he,or one of his companies more likely,have debts they know or suspect they can't pay.
Have they still got horses in training all over the place? Maybe the poster with the odd username can tell us. |
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Date / Horse / Race
Friday, 15 February 2019 - 4:55 Nickelsonthedime (Four day) at Fakenham Fakenham Maiden Open National Hunt Flat Race Monday, 18 February 2019 - 1:45 Rookie Trainer (Four day) at Lingfield (AW) Sky Sports Racing Sky 415 Standard Open National Hunt Flat Race |
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salmon bankruptcy is an individual process - insolvency/liquidation is a corporate process. So he has told a court that he owes money that he can't pay back, presumably trying to establish the story of failed businessman and not fraudster.
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Listen Glasgow - ive said it once and i'll say it again .
My only interest is that i was following the 2yolds very closely that the club owned as i was following the John Best yard- thats it ! I am also interested in the "business models" of horseracing yards within the industry and owners in the general sense........ and how its potentially needing a change for the industry to grow. I'm in my 3rd year of my Law Degree and such matters also interest me from a legal perspective in this unregulated space - Im also interested with how a newspaper can publicly claim someone is guilty of running a Ponzi Scheme by rumour "what he or she said" from anonymous parties ....without there being normal civil/criminal procedures being taken by complainants or the authorities. I dont make judgements based on what an online newspaper says or reports from anonymous parties within an unregulated space - and nor should anyone else imo. As i have stated he could have been committing fraud or doing wrong - but i wont make that judgement based on a newspaper's story. All i know is that i am being expected to believe, by the Daily Mail and them only , that a large group of anonymous parties invested over £70m to gamble on horses ....and that there could be a shortfall - totally bizarre imo - £70million is a whole lot of money for one man to accumulate in a betting syndicate - even Tom Segal or the worlds best tipster would struggle to achieve that. All im hearing are the words " fear, believe, Ponzi , he said , she said - its getting annoying ! Where is the evidence of the alleged Ponzi Scheme ? where are the civil or criminal prosecutions ? If you are a member of these claimed 5,000 depositors into a betting syndicate then please come on here or go public with evidence by initiating proceedings that are open to you. If he has taken your money on the promise its for betting and then has used it for another purpose to his own personal benefit, then its fraud , a criminal offence - prosecute him ! Where are the police ? |
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It would be the FCA who prosecuted a fraudulent/unauthorised investment scheme - haven't you got to that bit in your legal tution?
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I was alerted when rozel announced he followed the John Best yard.
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NO probs Rozel, its just a few of your posts gave me the impression you may have been an " investor ".
just rejoice you werent. !!  Cyring shame if it turns out folk have actually lost the lot despite others saying greedy/ gullible etc. |
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Im in jersey - its not the same as the UK .
The FCA only prosecute regulated practices which this isnt - but those who feel they have been subject to fraud by this chap can instigate a private prosecutions. |
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Dave , you are wrong on this - its a grey area that they dont have jurisdiction with as it comes down to the interpretation of the word "investment" which wouldn't be applicable in these matters.
The Daily mail keeps calling these claimed 5,000 people as investors - but for the purposes of the law they are not. When i bet £50 on a horse its not deemed an investment , i pay no taxes on the returns. |
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Are you an investor Dave , or were you gambling ?
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The FCA only prosecute regulated practices
rozelKid stop embarrassing yourself. |