There is currently 1 person viewing this thread.
racing post
A former police officer has been charged with defrauding thousands of punters who invested into his racing and betting syndicate Layezy Racing.
Michael Stanley, who served as a sergeant for Kent Police before setting up Layezy Racing, was charged on Tuesday with five counts of fraud relating to the “alleged misuse of his clients’ money” between 2013 and 2019.
Stanley, 67, established Layezy Racing in 2010 initially as a hobby with backing from family and friends. The group expanded from 2012 and by the time of its collapse in 2019 there were 6,000 members paying for shares in racehorses and for betting advice.
However, the operation, which had horses in training with John Best, Amy Murphy, Rebecca Menzies and Ivan Furtado, collapsed in early 2019 following newspaper allegations around the management of the company.
Layezy Racing filed for bankruptcy in January 2019 claiming debts of £22 million. At a high court hearing in September 2020, it was revealed that creditors were owed £158.7m, with Stanley having allegedly operated a Ponzi scheme paying out members with the funds from new subscribers.
In a statement on Tuesday, Kent Police said it had charged Stanley with one count of dishonestly making false representations to members of Layezy Racing, one count of knowingly running a business for fraudulent purposes in contravention of the Fraud Act and three counts of knowingly running a business for fraudulent purposes contrary to the Companies Act.
The statement continued: “Michael Stanley is accused of defrauding members of the Layezy Racing group between 2013 and 2019. He was arrested in August 2019 and has now been charged after a complex investigation by detectives from the Kent and Essex serious crime directorate.
“Mr Stanley has been bailed to appear at Sevenoaks Magistrates' Court on Thursday, March 7.”
A former police officer has been charged with defrauding thousands of punters who invested into his racing and betting syndicate Layezy Racing.
Michael Stanley, who served as a sergeant for Kent Police before setting up Layezy Racing, was charged on Tuesday with five counts of fraud relating to the “alleged misuse of his clients’ money” between 2013 and 2019.
Stanley, 67, established Layezy Racing in 2010 initially as a hobby with backing from family and friends. The group expanded from 2012 and by the time of its collapse in 2019 there were 6,000 members paying for shares in racehorses and for betting advice.
However, the operation, which had horses in training with John Best, Amy Murphy, Rebecca Menzies and Ivan Furtado, collapsed in early 2019 following newspaper allegations around the management of the company.
Layezy Racing filed for bankruptcy in January 2019 claiming debts of £22 million. At a high court hearing in September 2020, it was revealed that creditors were owed £158.7m, with Stanley having allegedly operated a Ponzi scheme paying out members with the funds from new subscribers.
In a statement on Tuesday, Kent Police said it had charged Stanley with one count of dishonestly making false representations to members of Layezy Racing, one count of knowingly running a business for fraudulent purposes in contravention of the Fraud Act and three counts of knowingly running a business for fraudulent purposes contrary to the Companies Act.
The statement continued: “Michael Stanley is accused of defrauding members of the Layezy Racing group between 2013 and 2019. He was arrested in August 2019 and has now been charged after a complex investigation by detectives from the Kent and Essex serious crime directorate.
“Mr Stanley has been bailed to appear at Sevenoaks Magistrates' Court on Thursday, March 7.”
sort by:
Show
per page
Replies: 20
|
By:
£158.7 million ffs, it looks like a local ponzi with 6000 all in mostly the same place, it works by word of mouth as he might be paying them a profit then they tell some family and they might pile in as well and on it goes ponzi but thats some fraud if it was that
|
|
By:
Crikey , i was brought up to trust Policemen and Doctors , how times have changed
 |
|
By:
Well if you are going to go down go down big LOL...amazing what greed does to would be investors and how they leave themselves open to scams
|
|
By:
For sure Salmon , if something seems too good to be true it probably is.
|
|
By:
when this broke in 2019 there was a thread, think it just called layezy and there were posts on it from a poster who a few thought was mike stanley
|
|
By:
Is the John Dance case still on going?
|
|
By:
Must be this one elise
https://community.betfair.com/horse_racing/go/thread/view/94102/31529345/liquidation-for-racing-syndicate---involved-in-multi-million-fraud-investigation?post_id=557202231#557202231 |
|
By:
one sec hayden i think there's one b4 that
|
|
By:
Correction , this one looks to be the one that kicked it all off.
https://community.betfair.com/horse_racing/go/thread/view/94102/31497447/layezy-racing?post_id=556464691#556464691 |
|
By:
yes 2nd one and the poster is lkjhgfdsazxcvbnm
|
|
By:
hi dealer, i thought the dance one was under investigation and that they had identified a multi million shortfall in the numbers but if it's progressed i missed it sorry
|
|
By:
Sadly I wasnt surprised to see the retired John Best mentioned in the article. A friend learnt a very expensive lesson after buying a horse from him.
|
|
By:
did he get a fish instead?
|
|
By:
onlooker19 May 19 18:24Joined: 18 Feb 03 | Topic/replies: 40,518 | Blogger: onlooker's blog
Some more gems from that original Thread .... lkjhgfdsazxcvbnm 22 Jan 19 11:08 lambs slaughter put £5000 in 4 years ago up to £35000 took £7000 out 2 weeks ago please slaughter me more please sparrow 22 Jan 19 11:09 Always makes me laugh when someone who hardly ever posts suddenly turns up to answer within minutes. Laugh lkjhgfdsazxcvbnm 22 Jan 19 11:15 plc limted all above board we have horses in training all over place domino14 22 Jan 19 11:16 lkjhgfdsazxcvbnm 22 Jan 19 11:14 Joined: 05 Jul 04 | Topic/replies: 59 layezy ltd site have a look on there site 1 losing month in 4 years 94per cent last year ------------- You may be getting told these figures but there appears to be no physical proof, and the industry reports suggest the company has lost a lot of money with bookmakers. The papers have got involved for one reason and one reason only, clearly members have been contacting them telling them they are requesting withdrawals and not getting paid, otherwise anyone making such vast profits would hardly be asking newspapers to investigate! domino14 22 Jan 19 11:24 You withdraw 7000 2 weeks ago? they have a 14 days withdrawal policy, I hope you've been paid the 7K, as if you haven't chances of you seeing it after this morning is zilch. foxy 22 Jan 19 12:56 94 percent strike rate where have they been all my life can I join please RothmanMike 22 Jan 19 12:58 Think that lkdghfdsaxxx etc may well be Mike Stanley the owner of the above scam. Happy elise 29 Jan 19 09:18 the current address for them is a self storage depot, the old address was for a little place on a new housing estate, they sound really legit ------------ * and those are just a few from Page 1 - of 5 of the original thread. Rate reply: | reportblock user GLASGOWCALLING GLASGOWCALLING19 May 19 18:29Joined: 11 Jan 11 | Topic/replies: 27,886 | Blogger: GLASGOWCALLING's blog .. i hope lkjhgfdsazxcvbnm has had his account stopped. !? Rate reply: | reportblock user sparrow sparrow19 May 19 18:35Joined: 20 Jul 02 | Topic/replies: 53,710 | Blogger: sparrow's blog GLASGOWCALLING 19 May 19 18:29 .. i hope lkjhgfdsazxcvbnm has had his account stopped. !? I should think that will be the least of his problems. |
|
By:
94% only one losing month in 4 years, ffs thats impossible but we now know how it was done and if you want 94% start a ponzi scheme
|
|
By:
i can't recall what they were called but there were videos taken by members on track with stanley and co when they had runners etc, honestly i do not know how they didn't see it coming
|
|
By:
I think the racing manager was a Venezuelan blond with huge knockers.
|
|
By:
Amazing how people are so naive & taken in. Only have to watch the scam buster progs on tv. Hundreds of thousands & houses lost.
|
|
By:
wish id joined now ged
|
|
By:
|