NZ Trainer banned for life

[TimTimTimbo]

http://www.jca.org.nz/non-race-day-hearings/non-raceday-inquiry-riu-v-m-p-kerr-reasons-and-penalty-decision-dated-13-april-2021-chair-hon-j-w-gendall-qc

This guy sold shares in horses that did not exist, Went partners with owners whereby the owner gave 50 percent share to train and he sold shares including the owner's share to others. Made up horses that did not exist.

All because he had a serious gambling problem and was betting overseas on every animal that could breathe, losing close to a million dollars.

This guy is going to the slammer as criminal charges are forthcoming.

I read the whole decision and it makes you cringe how this guy made shit up to defraud all these people including close friends.

HAS ANYONE HEARD OF THIS TYPE OF THING HAPPENING OVER HERE?

[Brkn Headpole]

Many stories of 6 1/4s of a horse being sold. There was a trainer who trained for an owner in California, horse died, but they took another horse to the winners circle took a pic and made up a win picture just to keep bleeding training bills out of the owner. Happened to Adam Victor, billed for horse who had been dead for months.

[Atthetrack7]

 DONT WE MEAN BANDED FOR LIFE?

[Jazzman]

too bad we couldnt get them band from america

[Sweet Louis]

Yes its basically a Ponzi scheme....most of those people will sell shares of a business or say they are investing in the market and the money is just whirlwind....afte r it starts to get bad they start taking parts new money they get people to invest to pay off the first patch of suckers but eventually the investors run out and your done.