BHA: any investigation into Phoenix Thoroughbreds is up to legal authorities
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The British Horseracing Authority has said that any formal investigation into Phoenix Thoroughbreds founder Amer Abdulaziz Salman would need to be made by the appropriate law enforcement bodies, adding it would be happy to assist should it be required.
Last November, British racing’s governing body said it would be “making inquiries as a priority” into the troubled organisation and, while confirming that queries had subsequently been made, no further action has been taken.
A BHA spokesperson said: “The BHA has carried out inquiries over the past few months. Allegations of criminality are properly investigated by law enforcement organisations, which the BHA would always support where it can. Our focus is on making the best use of our regulatory role to protect participants and the reputation of the sport.”
The Racing Post understands a similar stance is held by French racing’s regulatory authority, France Galop, although there are currently no Phoenix-owned horses in training in that jurisdiction.
The global nature of Phoenix’s investment in racing since its formation in 2017 was evident over the weekend, with the organisation having a winner at Flemington plus a winner at Monmouth in the USA, as well as placed runners at Saratoga, in upstate New York.
The organisation has a significant presence in Australia, headlined earlier this year by William Reid Stakes (Gr 1, 1200m) winner Loving Gaby (I Am Invincible), who is also nominated for the Cox Plate (Gr 1, 2040m), as well as being listed as breeders and co-owners of Golden Slipper Stakes(Gr 1, 1200m) winner Farnan (Not A Single Doubt).
Several yards in Britain and Ireland train runners owned by Phoenix Thoroughbreds or the affiliated Phoenix Ladies Syndicate. Both sets of colours were in action at the Curragh on Sunday when Forever In Dreams (Dream Ahead) finished third and Back To Brussels (Starspangledbanner) fifth in the same Group 3 sprint.
Since the allegations surrounding Abdulaziz emerged, there have been a string of departures from the operation.
On Saturday the Racing Post revealed vice-president and respected racing professional Tom Ludt had cut ties, joining the likes of bloodstock adviser Dermot Farrington and trainers Bob Baffert and Martyn Meade.
Abdulaziz was the subject of sensational allegations in a New York court last year, as it was claimed he was linked to the fraudulent cryptocurrency OneCoin.
The fake cryptocurrency was revealed to be a global Ponzi scheme, and it is alleged money from the scheme may have been invested in the self-styled “world’s first regulated thoroughbred fund”.
Court testimony alleged Abdulaziz and his Phoenix Fund Investments, the Dubai-registered parent company of Phoenix Thoroughbreds, were a key component of the network washing money for those behind the fraudulent scheme, which has been described as one of the biggest financial scams ever perpetrated.
Phoenix and Abdulaziz have categorically denied the allegations, and he and Phoenix representatives have declined to respond to any specific questions submitted by the Racing Post since November.