Home › Forums › Horse Racing › Vertem ordered to cease operations
- This topic has 45 replies, 10 voices, and was last updated 1 year, 5 months ago by
Landafar.
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- April 30, 2023 at 08:18 #1646157
Only the Racing Post still thinks they are entered. Initial entries for both races were made prior to April 6th, but both races required additional payments to stay in them later in April.
This from the official conditions for the York race for example:
Enter by noon, April 4th and pay £475 stake
Scratch by noon on April 25th or pay £550No payment on April 25th, so the horse is automatically scratched.
April 30, 2023 at 11:23 #1646163Understood @apracing, thanks.
According to the Facebook page, they still appear to be training horses.
May 16, 2023 at 19:53 #1648032Another belated update.
Work to redevelop a famous Middleham racing stables yard has come to a stop following an investigation into financial irregularities.
Contractors working on the overhaul of the Manor House Farm yard have left the site and the gate has been locked with a chain and padlock.
May 16, 2023 at 19:54 #1648033Archipenko with the latest!
It was only ever a matter of time!
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"May 16, 2023 at 19:57 #1648036I am not going to win “investigative journalist of the year” with these three week late updates though.
May 16, 2023 at 20:28 #1648039It’s all relative!
It might still be enough to going to win “TRF investigative journalist of the year!”
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"May 29, 2023 at 14:47 #1649542May 29, 2023 at 16:13 #1649547They had five runners on Saturday, including a couple that picked up place money at Goodwood. And that clearance came through just in time for Horton to make entries for the Hunt Cup and the Wokingham.
May 31, 2023 at 19:40 #1649698Racing Post: “Racehorse owner John Dance is being investigated over criminal offences of fraud and money laundering as financial investigators revealed on Wednesday they were aware of a potential black hole of more than £80 million in client assets and money associated with his wealth management business.”
That’s a lot of hob nobs.
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"May 31, 2023 at 20:16 #1649709Thanks for the update @IanDavies.
May 31, 2023 at 21:53 #1649720£80m black hole, could happen to anyone there is probably a simple explanation.
The more I know the less I understand.
May 31, 2023 at 22:02 #1649722“Thanks for the update @IanDavies.”
You’re welcome!
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"June 20, 2023 at 11:32 #1652166I notice that Tom Dascombe has three Coverdale Stud animals entered in the next few days; Lunar Shine, a 300,000 Kodiac who was listed in training with Horton in Horses In Training, a Mehmas filly called Divergency and a Dark Angel colt named Miggy Magic.
The latter two were not listed in training but it may have been an incomplete entry and I’m assuming they’ve come from there – they were not acquired in the breeze ups.
Though Dascombe has only had 3 winners so far this season, his juveniles are starting to run well and I feel things are picking up for him – especially given the circumstances he found himself in.
July 11, 2023 at 21:05 #1655060Four horses belonging to John Dance, the owner at the centre of a fraud and money laundering probe by the City regulator, sold for a combined 130,000gns (£136,500) at the Tattersalls July Sale in Newmarket on Tuesday.
A further four horses owned by Dance – Crossfader, Dreamfeeder, Groove Nation and Mass Consumption – are set to go under the hammer in Newmarket on Wednesday.
Creditors are forecast to receive just 21p for every £1 owed to them **ouch**
July 11, 2023 at 21:11 #1655061“Creditors are forecast to receive just 21p for every £1 owed to them”
Isn’t that roughly the same average rate of return as UK racehorse ownership?
I’m no expert on the world of high finance, but that doesn’t sound like a very high rate of return on investment to me – especially with inflation running at the rate it is!
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"July 11, 2023 at 21:22 #1655062I would hardly call owning a racehorse an “investment” in the first place 😂.
Here is an interesting article on creditor recovery following the well publicised failure of Lehman Brothers.
July 11, 2023 at 21:27 #1655063“I would hardly call owning a racehorse an “investment” in the first place 😂.”
Top banter!
Thanks, as ever, for the updates, Archipenko.
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