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Looks as though its money has come from a ponzi scam,headline story in tomorrows RP.
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Phoenix Thoroughbreds founder accused of stealing €100m from global Ponzi scam
Amer Abdulaziz: one of the most high-profile figures in international racing Amer Abdulaziz: one of the most high-profile figures in international racing Sarah Farnsworth 1 of 1 By Peter Scargill UPDATED 9:01PM, NOV 24 2019 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. Phoenix Thoroughbreds founder Amer Abdulaziz at a sale last year Phoenix Thoroughbreds founder Amer Abdulaziz at a sale last year 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. The story explained: our guide to the key players 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. Signora Cabello (white) lands the Queen Mary Stakes at Royal Ascot in 2018 Signora Cabello (white) lands the Queen Mary Stakes at Royal Ascot in 2018 CAROLINE NORRIS 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. Read more about this story in Monday's Racing Post or with Members' Club Ultimate: Phoenix boss defaulted on payments for horses on previous foray into racing Advertise the headline act of a bloodstock portfolio which spreads worldwide |
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Everything you need to know about the OneCoin court case
Advertise (white silks): a prominent performer for Phoenix Thoroughbreds Advertise (white silks): a prominent performer for Phoenix Thoroughbreds 1 of 1 By Peter Scargill UPDATED 9:04PM, NOV 24 2019 Phoenix Thoroughbreds founder Amer Abdulaziz was named in court as part of the trial of an individual linked to a major global scam, OneCoin. What is OneCoin? OneCoin is an international Ponzi scheme created in 2014 around a fake online cryptocurrency designed to cash in on the excitement surrounding BitCoin, a legitimate cryptocurrency created in the aftermath of the financial crisis. OneCoin was promoted globally as a means of liberalising and decentralising banking for the masses with people able to buy OneCoin in the hope of the currency being worth significantly more in the future once it became tradeable, as was the case with BitCoin. However, unlike BitCoin, OneCoin has no verifiable blockchain, an online ledger that tracks all transactions and prevents the price being artificially altered. OneCoin can also not be traded for any other form of tangible currency, such as pounds or euros, or used to buy products other than on a debunked online marketplace called dealshaker.com. Who is Konstantin Ignatov? Konstantin Ignatov, 33, is the co-founder and younger brother of Dr Ruja Ignatova, the face of OneCoin and a missing person since October 2017. Ignatov continued to run OneCoin after the disappearance of his sister before being arrested by US officials at Los Angeles airport in March 2019. Konstantin Ignatov Konstantin Ignatov Ignatov pleaded guilty this month to two counts of wire fraud, one count of bank fraud and one count of money laundering, having struck a plea bargain with US prosecutors to act as a cooperating witness to identify other members of the OneCoin scam in return for immunity to further prosecution. He faces up to 90 years in prison. Who is Mark Scott? Mark Scott, 51, was convicted last Thursday of one count of conspiracy to commit money laundering and one count of conspiracy to commit bank fraud after a three-week trial in New York. Scott, a former partner of law firm Locke Lord LLP, was recruited by Gilbert Armenta, the boyfriend of Ruja Ignatova, to launder approximately $400 million of stolen funds through US accounts, for which he was paid $50m by the scammers. Scott, who bragged of earning “50 by 50”, used his money to buy luxury cars, a yacht, and several seaside homes prior to his arrest in September 2018. The lawyer, who was bailed to his home in Florida, is due in court for sentencing on February 21 next year. He faces up to 50 years in prison. Who is Amer Abdulaziz Salman? Amer Abdulaziz, 56, is the founder of Dubai-based fund Phoenix Fund Investments Ltd and Phoenix Thoroughbreds. Born in Bahrain, Abdulaziz rose to prominence from out of the blue in 2017 when launching what he described as “the world’s first regulated thoroughbred fund” and subsequently went on a high-profile spending spree across Europe, the USA and Australia. Amer Abdulaziz: founder of Phoenix Fund Investments Ltd and Phoenix Thoroughbreds Amer Abdulaziz: founder of Phoenix Fund Investments Ltd and Phoenix Thoroughbreds Sarah Farnsworth Often seen at the races and sales, as well as being prominent in the media, Abdulaziz initially had his horses with ex-Newmarket trainer Jeremy Noseda before firing him and broadening out to several yards. Abdulaziz has consistently talked of using his initial Phoenix Thoroughbreds fund as a promotional tool for a second, larger fund but has never disclosed any of his clients. What is Phoenix Thoroughbreds? Phoenix Thoroughbreds is a multinational thoroughbred ownership brand launched in 2017 by Amer Abdulaziz. It describes itself as “an emerging force on the global racing stage” on its website with the stated ambition of competing with the likes of superpowers Coolmore and Godolphin. There are an estimated 300 horses, including broodmares and stallions such as Aclaim and Advertise, under the Phoenix umbrella with at least 27 trainers in Britain, Ireland, France, America, Australia, Dubai and Argentina. Phoenix has enjoyed success on the racecourse with the likes of Group/Grade 1 winners Dream Tree, Loving Gaby and Advertise, as well as Signora Cabello and Gronkowski, who is reportedly being aimed at the $20m Saudi Cup in February. Read The Lowdown from 8.30am daily on racingpost.com and the Racing Post app for all the day's going updates, news and tips |
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Not long ago he was talking a good game on Luck on Sunday and they were lapping it up,just noticed he's named a 2 million filly "Luck on Sunday" ffs.
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This guy has previous, ask the Irish bloodstock agent he left virtually bankrupt after not honoring his purchases last time around.
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I read this yesterday about Dr. Ruja Ignatova (who has now disappeared) and the history of the Onecoin scam.
https://www.bbc.co.uk/news/stories-50435014 . |
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Fascinating read Insanity. Thanks for sharing
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Here's the Luck on Sunday interview with the man...
https://www.youtube.com/watch?v=biXf6GrnYKY |
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Apparently he likes to be called Tyson after his hero the boxer.
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Like a house of cards..............I'm sure Jeremy Noseda will allow himself a wry smile today.
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Well let's hope trainers don't have to pay back all the training fees they got from the alleged stolen money. There will be no wry smiles then!
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Noseda knew what he was doing when he "retired" very shrewed move...
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If it were bookies, they'd be paying back stakes and be fined heavily!
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rp quite happy to splash this but absolutely nothing about shakemo and his attempt to take all the horses away from wife n6. she appealed to weatherbys and the beasts were returned. but this is a non-racing story according to the dismal rag.
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a cryptocurrency that didnt exist and raises 100s of millions.
How stupid or greedy are folks who have done their dough. |
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Money laundering by the sound off it. Headache for a few trainers.
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On why the decision was taken to regulate the fund in Luxembourg, he adds: "The transparency there is 200%. We don't want people to have doubts about us and where our money is coming from. We are a proper set-up and we want to be different. We want to come and play a major role in this industry."
Playing such a role takes plenty of cash and this is where things start to reach the eye-watering stage. The fund, which will be liquidated in its fifth year as a second is launched, is worth a staggering $250 million, and the plan is for future funds to be much bigger. "I want to give confidence to my investors and I didn't want to just do a small syndication, where I go and bring two or three people in," says the Bahrain-born businessman. "I wanted to do it big, so instead of investing $5 miliion and managing ten horses, I wanted to have $250 million to invest in what I call the full product, from stallions to broodmares to yearlings to 2-year-olds, all under one roof. "This is the first fund but, of course, the second fund will be a lot bigger. Since we managed to win races, people know who we are now. We have a winning track record and people want to do business with us. "Because of this, my life has become a lot easier. It's easier to go to potential investors and say, 'This is who we are, this is our track record.'" Therein lies one of the problems encountered by Abdulaziz. For all his meticulous planning, he can never guarantee success but he takes comfort from the fact the reality is not all that different from any other investment. He explains: "You might succeed or you might not succeed—it's like any other business opportunity. Some investors like to take risks, where the higher the investment, the higher the return. Some are very conservative and we have met both. "Sometimes, with the conservative people, we say 'It's OK, you don't need to put in a lot of money. Just put in half a million, a million, and wait and see.' That's what we've managed to do, those small investors are happy, they can see what we're doing and their appetite is increasing." |
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Fools and their money are soon parted.
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I have a feeling that him and his liberty will soon be parted.
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Barney said when you buy a racehorse you lose a big percentage of your money overnight. Guess this view didn't feature in their promo video.
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Seems they are denying any illegally activities
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Phoenix Fund response to recent allegations:
"Phoenix Fund Investments LLC categorically denies all allegations made against it, and its owner, Mr. Amer Abdulaziz, in legal proceedings against OneCoin and its conspirators in the US..." |
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Has Martyn Meade said anything yet....his son in law is connected with phoenix
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Leading Saudi Arabian owner Khalid bin Mishref has bought into this year's Dubai World Cup runner-up Gronkowski, owners Phoenix Thoroughbreds have confirmed.
Mishref is no stranger to international ownership. A regular at the leading global sales, he has seen his green and white silks carried to victory in the US, Britain and his native Saudi Arabia. The announcement is likely to spark some excitement in Saudi Arabia with the inaugural Saudi Cup named as one of the primary targets for Gronkowski as part of an ambitious campaign. A longtime friend and ally of his new partners, Mishref aided Phoenix CEO Amer Abdulaziz on a fact-finding mission to Riyadh this year as the group's founder explored the possibilities of racing in Saudi Arabia. "We are delighted to welcome Khalid bin Mishref to the Phoenix Thoroughbreds team," Abdulaziz said. "We pride ourselves on our international growth, and to have a man of Khalid's experience joining the team at such an exciting stage of Gronkowski's career is a major plus. "It was an easy decision to invest with Phoenix Thoroughbreds," explained the Saudi owner. "Not only is Gronkowski a world-class racehorse, but Phoenix's international ambitions mirror my own. "A chance to be part of a horse of this calibre doesn't come around that often, so I was delighted to be given the opportunity. It's very exciting to think he'll be lining up in the Saudi Cup in front of Saudi racing fans. I'm sure that this will be a very successful partnership |
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How appropriate the name Pheonix,...arises from its ashes and disappears soon after. But, no one in the horsey fraternity questioned its rise and origin of money buying expensive horses in auctions.
Money laundering in horses so soon after the near demise of fobts. What next? People trafficking and/or narcotics? |
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Never ever regulated.
Whoda thunked it? |
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Agreed it does not look satisfactory but if every new owner or every new small business was subject to inspection, how many inspectors would be required and who pays?
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But mega purchases from a new entrant with little known personal and/or financial info of purchaser? This is even murkier than when Harrods was bought by the "colourful" corner shop entrepreneur whose eldest son died in the car crash as Princess Diana.
If the allegations were true eg the founder was a money launderer for that ponzi scheme One-Coin he he ought to be flogged in public or dragged round Newcastle racecourse just like some chariot participants in the film Benhur. |
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It is bad for the sport and for other syndicates after a similar event in Ireland with Supreme horseracing.
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Horse Racing = dodgy individuals/entities as evidenced by the illegal and inappropriate use of narcotics by trainers and "misappropriated" monies by owners.
How many parents warmed to their sibling taking a saturday job in a bookie whilst still at school? None, Harrods or Waitrose ok - a bookie a definite no, no. But, at the end of the day Money Talks! |
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Phoenix allegations to be investigated as a priority by BHA
By Scott Burton UPDATED 9:10PM, NOV 25 2019 The BHA will prioritise its investigation into allegations made against Phoenix Thoroughbreds founder Amer Abdulaziz Salman in a New York court earlier this month. British racing's governing body has wide-ranging powers to restrict any individual or company's activities in racing but is in the process of gathering further information from financial and legal authorities into the allegations. A BHA spokesperson said on Monday: "The BHA is aware of the allegations which are emanating from a criminal case in the United States. We are in contact with the appropriate authorities and are continuing to make inquiries as a priority. We cannot comment further on the specifics of this case at this time." The spokesperson added: "More generally, British racing takes its reputation – and its responsibility to protect its participants from potentially corrupt activity – very seriously. Wide-ranging criteria are in place for the suitability of those involved in the sport, and every application for registration as an owner is assessed in line with these criteria. "If an individual is found to have acted in a manner which makes them unsuitable to be an owner then their registration can be rescinded. There are also strict rules against engaging in conduct which is prejudicial to the sport's good reputation." Abdulaziz was named in a US court this month by a witness in a money-laundering trial relating to the international cryptocurrency scam OneCoin. The witness alleged Abdulaziz acted as a key money launderer for the operation before stealing €100 million from the scheme to fund his ownership vehicle. -------------- Phoenix allegations to be investigated as a priority by BHA BHA - Coming to the party a bit late. |
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Impossible123 - and I know you were only quoting from others saying "But mega purchases from a new entrant with little known personal and/or financial info of purchaser etc etc?"
But this bloke has history.... Peter Scargill NOV 24 2019 Prior to the launch of Phoenix Thoroughbreds in 2017, Amer Abdulaziz Salman defaulted on payments for a number of horses purchased on his behalf at auctions in the USA. Burgeoning bloodstock agent Ajay Anne bought horses from Fasig-Tipton (FT) and Keeneland in Kentucky during 2010 on behalf of a Dubai-based consortium headed by Abdulaziz, having reportedly been introduced to the owner through a mutual friend. Anne signed for bloodstock totalling $1.945 million at FT with a further $300,000 spent on two mares from Keeneland the same autumn.However, Anne was left in the lurch when after several months neither FT nor Keeneland had been paid by Abdulaziz, who claimed an administrative issue had caused the delay when contacted by the Racing Post. He said on March 3, 2011: “We purchased the horses because they are very exciting, top quality. There have been some delays because of the formation of the investment company and that is being finalised. We are just liquidating the funds into the company’s account. As we speak the payment is being made. “Everything was finalised two days ago, so we are looking at closing the deal in the next couple of days. There was some delay with the licensing, there was some delay with the investors, but all that has been finalised. "By next week, we will be able to sign all the contracts and go ahead with it. Once the payment of the horses is finalised, then we can move on to the next stage.” Despite the assurances offered by Abdulaziz, the horses were not paid for and returned to auction in the autumn of 2011 to recover the outstanding debt. In 2010, Abdulaziz also agreed to purchase a farm in Lexington for in excess of $10m, but failed to complete the transaction. Abdulaziz did not reappear in the racing and bloodstock world until the summer of 2017 when he launched a new buying spree under the Phoenix Thoroughbreds umbrella. Abdulaziz did not respond to requests for comment on this story. |
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That makes the whole thing totally unacceptable. What were the auctioneers doing allowing a known defaulter to bid those sort of sums?
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The auctioneer's greed cloud their judgement. But they got it back in spades this time around though, didn't they? Clever auctioneers, who cares where the money come from no one will have to give it back!!! Wish I had got some, it came from mugs gambling on get rich quick schemes anyway (not that anyone on here would be so gullible).
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If it is proceeds of crime they might have to give it back.
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I see the RP has more on this today (not that I can read it as it's for members only). They seem to have got their teeth into this one. Shame they couldn't treat other issues with the same enthusiasm.
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Surely the RP should have made a splash about him before this debacle blew up
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What a coincidence One Coin scammers have their offices in Phoenix premises.
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Maybe they got cheap rent!!!!!
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Sands of Mali,wildcard entry last lot for sale tonight Tatts December sale.
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