But he's in the 3rd year of a law degree, dave.

When i get back I shall to explain why your reference is misguided in fact and law ...when it comes to this betting syndicate and also the lawyers who have already stated on the record that it is outside of the FCA'S remit.

As far as i understand it you have to be licensed to take deposits from the public and i would humbly suggest he wasn't so has committed an offence

It isn't a simple as that posy.  Is the bloke in the office who runs the lottery syndicate a deposit taker?  As I said above how does Tony Bloom run an apparently massive syndicate?

“ A number of years “

By David Baxter
UPDATED 7:53PM, FEB 14 2019

A total of 23 horses owned by Layezy Racing Owners Club, including a forecast favourite at Fakenham on Friday, have been barred from running until further notice after the club's founder, Mike Stanley, filed for bankruptcy on Monday.

Stanley's bankruptcy order has prompted fears among those who signed up to the club and also the Layezy Racing betting syndicate that they could stand to lose significant amounts of money.

The club was in operation from last April, and Nickelsonthedime was due to compete in the 2m bumper at the Norfolk track. Formerly with Keith Dalgleish, the five-year-old was set to have his first run for Kayley Woollacott and had been installed the top-priced 7-4 favourite.

Since coming into existence, the club has had a handful of runners, with Fearless the most recent when finishing fifth in a Listed bumper at Cheltenham on New Year's Day on debut for Rebecca Menzies.

As well as Menzies, the club had runners with other trainers including John Best, Amy Murphy and Ivan Furtado.

A BHA spokesman said on Thursday: "The BHA was alerted this morning to the fact that Mike Stanley, owner of 23 horses through the Layezy Racing Owners Club, declared himself insolvent on Monday, February 11. Under the Rules of Racing, insolvent individuals or entities are not permitted to own and run racehorses. As such, those horses will not be allowed to run until further notice.

"The BHA is contacting the trainers responsible for the relevant horses to ensure they are sufficiently informed about the current situation and what support is available to them, and will work with the trainers to ensure the horses continue to receive the first-class care they are accustomed to in their yards. This is a complex situation and the BHA is working with the relevant authorities to assist in any way it can.

"Anyone financially involved or dependent upon the Layezy Racing Owners Club Syndicate will receive updates from the Trustees in Bankruptcy via the Layezyinvestors@duffandphelps.com email address. Anyone who feels they may be a victim of fraud can contact Action Fraud, the UK’s national reporting centre for fraud and cyber-crime."

London-based insolvency experts Duff & Phelps has been appointed as trustee in the bankruptcy and is starting the process of realising assets and continuing to obtain investor claims.

The betting syndicate Stanley founded was based on the idea he had found a way to make long-term gains from backing horses to lose on the betting exchanges.

One member who invested, Steve, claimed: "It has destroyed a lot of people, some people have put pension funds in and things like that."

The betting syndicate Stanley founded was based on the idea he had found a way to make long-term gains from backing horses to lose on the betting exchanges.

Priceless

Has Steve claridge and the the other pro footballer advertising its onset got anything to say . ???

Never even looked only know what I've read on here

Would've had to have been convincing given the sums involved.

.. yes it looked Slick alright Denzil,  i am sure after i saw the advert on Youtube claridge had a disclaimer

at the end of it which made me curious.

i think it's still on youtube if you search, but pre layezy mr stanley fronted a software system you could buy, he placed selections and your bot followed placing bets along side his, his later version was you give him the money and his team of experts would handle everything


he clearly didn't write any software, other people in the background are doing that

i did wonder if somewhere in this the money laundering and tax evasion issues might pop up for some of his investors, maybe a few wouldn't be rushing to the police if that were the case, might take a while for the authroities to determine how this goes forward

By James Stevens
UPDATED 4:23PM, FEB 15 2019

John Best said on Friday his yard had suffered a "huge blow" after the Layezy Racing Owners Club, with nine horses at his yard, were barred from having runners.

A total of 23 horses spread across several yards are affected by the BHA-imposed ban after the club's founder, Mike Stanley, filed for bankruptcy this week.

Kent-based trainer Best said he was shocked by the development after earlier reassurances that there were no issues.

He said: "I'm desperately disappointed for everyone involved. All the trainers are in the situation and none more so than us who had the most horses with them. It is a huge blow to us in every way, especially financially.

"I don't know what will happen next and how it will work. No-one seems to have an understanding of what will happen next, it is just up in the air at the moment."

Stanley's bankruptcy order has prompted fears among those who signed up to the club and also the Layezy Racing betting syndicate that they could stand to lose significant amounts of money.

Best said: "We were totally unaware of what was happening until reading about it. Even then I spoke to Mike Stanley who said there was 'nothing to worry about' and 'everything would be fine', but it certainly doesn't look that way now.

"I hadn't known him that long. I met him in the early part of 2018 and he came across as a really nice, straightforward man. This situation wasn't something I ever thought would happen. The members were lovely and supportive too, so I am sad for them."

The club was in operation from last April and has had a handful of runners, with Fearless the most recent when finishing fifth in a Listed bumper at Cheltenham on New Year's Day on debut for Rebecca Menzies.

Nickelsonthedime, trained by Kayley Woollacott, had been installed the top-priced 7-4 favourite for a bumper at Fakenham on Friday before the BHA barred it from running. Amy Murphy and Ivan Furtado are other trainers to have horses with the owners.

Under the rules of racing, insolvent individuals or entities are not permitted to own and run racehorses.