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Frankie Bankrupt
Frankie Bankrupt
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Replies: 197
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Do not feel sorry for him. If the ordinary Tom, Dick and Harriet could pay the necessary taxes eg paye Mr Dettori with his vast and easily accumulated income ought to too. Non-compliance through greed himself or his "advisors" cannot be used as an excuse or to solicit sympathy from ordinary horseracing supporters.
Cheating the taxmen knowingly or unknowingly (using advisors) is not the behaviour of a respectable citizen of the country he's earned his vast income from. |
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Bankruptcy is for people who cannot afford to pay their debts. It should not be abused by people who don't want to pay their debts once they've been exposed for tax dodging. Until Frankie has sold everything and turns up to the races in just shorts and a saddle, he should get selling. Zero sympathy, you pay someone to avoid tax but it turns out you evade, buck stops with you. Pay your debts.
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I suspect you mean elicit (not solicit). :)
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he may need to, housewive's favourite.
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I haven't looked at the details, but the interest rate hmrc charge on late payments is penal. So if you look at the fines, the liability calculated and then compounding interest of 7-8%, it could well be outside of the value of assets that could be liquidated.
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he just won on Banks!
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It may well be that the liability itself could be covered. But if the original liability was say 40% of income, and the fines and late payment charges double the amount, then it's effective 80% of his income. A fair amount of net income would have gone on paying his staff and various agents. So, no escaping bankruptcy if the whole amount was demanded. I guess that's why hmrc try to negotiate a settlement.
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he just won on Banks!
Pity he didnt use them. |
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Cannot or unwilling to accept or do the sentence do not do or commit the crime in the 1st place. Mr Dettori tried and failed (according to HMRC) to cheat the country of taxes he ought to pay on his various sources of income.
Maybe a spell in HMP will send a strong deterrent to any future professional jockey with the mindset of Mr Dettori illegal tax schemes. Or this is only a tip of the iceberg? |
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He should face the appropriate penalties. My point around it is more of a general one, it's easy to see the attraction of tax avoidance schemes when the government tries to snatch almost half of your earnings. Any all you see is them spaffing it away on people who don't fancy working, but do like free cars and free money.
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Frankie done ok ,5 kids through private schools,basically 20% dsiscount with VAT tax break,wouldn't be shocked to see Frankie's home/stables etc registered as a farm for tax purposes
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His statutory tax-relief on his family and mortgage would amount to many multiples of any ordinary Londoner including the London waiting; the higher the jump, the greater the fall.
No sympathy from me whatsoever. No hard labour was involved in procuring his wealth. Pay up,...otherwise the greed, the self-pity and stress could render serious future health issues for him in the future. |
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Yeah, Cider is probably right.
Sorry yer honour - it wasn't my pure greed, arrogance or a sense of superiority/entitlement that drove me to ripping-off my fellow countrymen, it was my strong political convictions.  Lets be honest - if the higher rate was only 20%, the exact same bunch of people would still be at it. People that cheat, cheat, it's what they do. It's in their DNA. Pretending you'd happily pay your way if only the Govt was more efficient? |
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as proved by Gary Barlow, Jimmy carr.frankie etc, etc,didn't try to get their tax rate down to 40,35,30,25,20,15,10%,they were caught trying to get it down to 3% and below, if they all paid 3% and got away with it,they,d now be using frankies scheme trying to get it down to zero, Frankie actually put his rate up by 10%,by paying the fella 10% commission doubt he,ll be handing it back
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Yeah, Cider is probably right.
Usually. I'm clearly not stating absolutely everyone would not use daft, risky schemes to try and avoid it. But fewer would if the scalping was fairer, or it wasn't wasn't wasted. Ideally, both. |
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so why don't they scalp it down to the 40% and 20% everyone else pays ?, instead of 3% and below ?
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Frankie paid someone 10% of the money he was trying to hide
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If Mr Dettori is smart he ought to claim the 10% back from his advisors. Then consider a legal case against his tax advisors eg HMRC penalty plus interest esp if the scheme advised and proposed by his tax advisors was so blatantly flawed and contravened the basic structure of the tax.
Anyway, I'm glad HMRC won otherwise, a few of the other high-earning jocks would have followed. And, Mr Dettori could demand and receive a commission for every recommendation from his tax advisors. |
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Retired footballer also fallen foul of HMRC, employed by SKY as a pundit via a third party company. They've successfully claimed £300k - didn't think SKY paid that well ! Strange as I thought that Lineker got away with this ploy with the BBC ?
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their all slightly different, lineker ,orraine Kelly got thumbs ,eamon Holmes thumbs down
Danny Murphy lost all his in a dodgy dubia property scheme ponzed out by that journeymen Birmingham city footballer tommy cottee struggled because it never occurred to him he wouldn't always be on 30 grand a week,divorce,kids school fees did for him,says been pundit on sky saved him from bankruptcy |
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Frankie's bankruptcy extended another 12 months, after failing to give full disclosure of his assets.
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Amazing that he told porkies
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Great 'ambassador' for Amo
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It ought to have been 5 years given the sum involved and blatant transgression. I hope he decamps to his homeland for his disdain behaviour to UK Plc.
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He's an apt ambassador for Amo because unless they get a golden goose stallion or two pretty sharpish they'll be going the same way.
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Amo are living on borrowed time and money
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Well we know what happened to Boris Becker when he didn't give full disclosure of his assets.
Boris went through marriages which is the quick way to being skint. Frankie never been divorced. I wonder whether he fell foul of a similar investment scheme that scammed the PL footballers? |
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Horrible individual.
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Unbelievable! Someone who got so much from UK Horseracing can default on taxes and now not forthcoming with asset disclosures. I think UK Plc needs to consider ejecting him or rescinding his British citizenship if he's one.
The man is clearly taking the mickey out of ordinary UK taxpayers and UK hospitality and UK opportunities accorded to him. |
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Going the same way as Lester. Big Tax Fraud = jail time.
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mpossible123 • March 5, 2026 7:14 PM GMT
Unbelievable! Someone who got so much from UK Horseracing can default on taxes and now not forthcoming with asset disclosures. I think UK Plc needs to consider ejecting him or rescinding his British citizenship if he's one. The man is clearly taking the mickey out of ordinary UK taxpayers and UK hospitality and UK opportunities accorded to him. |
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According to The Racing Post last week, Apollo Global Management asked Amo last week to provide more security on their £40 million loan ( 10.25% interest).
Would not do that without reason. Looks like the only asset Amo has is stock. What ever happened to building on firm foundations. |
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Premiere League Players the wretched individual is an Agent for still exists
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Good lord the bell is everywhere scowling and prowling the forum spewing bile…..
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More desperate attempts by the Two Bobber to provoke a response.
The cretin has no shame |
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Even Delbert has seen through him
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Barstool, Apollo Global have a few problems of their own.....
https://www.reuters.com/sustainability/boards-policy-regulation/apollo-leon-black-sued-allegedly-concealing-epstein-business-ties-shareholders-2026-03-03/ |