last seen waiting for the bus to Northern Cyprus with 37 suitcases ..

Horton seemed to be doing quite well...can only assume the stable and stock will be sold off

Everything GONE, HUGE sale!

Reading about this looks terrible. People have lost investments, can't pay back because money wasn't there in the 1st place. 100% a Ponzi scheme. I'm sure all involved with get long prison time.

wouldn't*

Not so much in news about it yet? the Mail have it but can't find much else apart from the Post,will be relying on Mr C to keep us up to speed

The previous head of the FCA was Andrew Bailey who was also a disaster so Johnson made him Governor of the Bank of England

Iam sure the  " Opening Show " ( itv 9-30 Sat ) will be all over this.

Didnt see itv racing today but I'm sure there was plenty mention of"friend of the show"....aye right!

BMG to run at aintree on Thursday under the sole ownership of Bryan Drew

Volcker?

Bravemansgame caught in the cross fire

seized as an asset like Labaik was?

Well,if pumpkin or Drew just did this hoping it was allowed without consulting with the fca they could have bigger problems..

If it was your money he had scammed Anorak, would you want him and his friend's having jolly day out at Aintree with it?

Apparently his jockeys have had their cars that he sponsored repossessed. Numerous houses in Middleham that he bought for staff have been seized. There is also a story doing the rounds that he paid for Karl Burke's second yard and his equine swimming pool. It all came to light during the recent CS fuelled banking crisis led to some investor withdrawal requests which were not met.

Thanks for info Tostidog

They keep happening because people are "greedy" for extra interest on their money.

Can't believe Burke would get involved with anything dodgy...

Indeed, GC. And for anyone who missed it, Matt Chapman told us that Paul Nicholls had told him that he had intended to run Hitman instead had Bravemansgame not been given the go ahead on Tuesday, and then it was too late when the courts intervened yesterday.

John Dance horses shrouded in growing uncertainty as more details emerge of FCA investigation

Leopardstown Sat 15 September 2018 Laurens with John Dance and Lucy Burke after winning The Coolmore Fastnet Rock Matron StakesPhoto.carolinenorris.ie
John Dance: joint-owner of Bravemansgame
Credit: Caroline Norris
The futures of horses owned by John Dance were cast into further uncertainty on Thursday after the scope of the investigation into his company, WealthTek LLP, by the Financial Conduct Authority (FCA) was made apparent to the BHA.

WealthTek, which also trades as Vertem Asset Management and Malloch Melville, was shut down last week after the FCA obtained a High Court order to place the business into special administration following the discovery of “serious regulatory and operational issues”.

Having liaised with the FCA, the BHA initially facilitated a solution to allow Bravemansgame to compete in the Aintree Bowl in the sole ownership of Bryan Drew with Dance removed as joint-owner. The BHA did not specify if the eight-year-old had been leased or sold to Drew, but said it was “satisfied” the horse would be in his ownership for the race.

The court order had been secured by the FCA last Thursday but was not presented to the BHA until Wednesday, at which point it is understood by the Racing Post that the BHA believed it could not allow Bravemansgame to compete with the FCA’s position laid out more fully. As such, the BHA took the decision to block Bravemansgame running, albeit with confusion remaining as to whether any of the other horses owned by Dance would be able to compete in the near future.

In an updated statement on the WealthTek investigation issued on Wednesday, the FCA said it had “taken various steps to protect consumers following serious regulatory and operational issues coming to light”.

Among the actions that can be taken by the FCA as part of investigations is an application to the court for assets to be frozen. The scope of what constitutes an asset that can be frozen is then interpreted by organisations presented with the court order.


Galopin Des Champs and Bravemansgame jump the last in the Gold Cup
Bravemansgame: unable to run in the Bowl at Aintree on Thursday
Credit: Ryan Pierse
Alongside Bravemansgame, Dance owns a number of horses in partnership with his wife, Jess, the majority of which are overseen by their private trainer James Horton, who is based at a rented property in Middleham while a state-of-the-art training facility at Manor House Farm is completed. As well as his own horses, Dance is patron of the Titanium Racing Club.

Reports emerged on Thursday that property and motor vehicles in Middleham potentially connected with Dance had been seized by authorities, but there was no indication that any bloodstock assets had been frozen as part of the investigation.

The forced withdrawal of Bravemansgame from the Aintree Bowl, which was won by Shishkin, was described as “bitterly disappointing” by Paul Nicholls. The champion trainer said he planned to reroute the King George VI Chase winner and Cheltenham Gold Cup runner-up to the Punchestown Gold Cup on April 26 if possible.

“Obviously [I am] disappointed by the course of events that led up to us not being able to run him but that’s out of my hands,” Nicholls told Betfair. “I can’t really say any more than that. It's just bitterly disappointing.”