THE British Horseracing Authority has issued an urgent scam alert warning as alleged fraudsters attempt to dupe owners out of ‘considerable sums’.
Racing’s governing body has urged anyone contacted about the ‘complex’ scheme to call the police straight away.
The BHA has been made aware of alleged fraudulent activity, details below.
If you are approached, please contact the Police:
And report to the BHA Integrity Team:
: [email protected]@NTFnews pic.twitter.com/4O4VQqDYSA
— BHA Press Office (@BHAPressOffice) April 28, 2022
A BHA statement read: “The BHA have been made aware of an alleged scam whereby individuals purporting to be representatives for a wealthy owner have approached racing participants with the offer of investing considerable sums in bloodstock for them to train.
“The suspected fraud appears fairly complex with participants being asked to download payment software onto their devices and asked to transfer significant funds as payment for ‘security software’ on the promise it’ll be returned in the near future.
“Those responsible have demonstrated a good knowledge of racing and in particular the yard’s runners and form.
“We would ask that all participants are vigilant and report any suspicious activity to the police and report to the BHA integrity team.”
It is not clear which ‘wealthy owner’ the alleged fraudsters are claiming to work with.
But anyone contacted is being urged to ring 101 or email [email protected].
Massive sums of money trade hands on a regular basis in the racing game.
Often yearlings are purchased for upwards of £1million, with billionaire businessman doing battle over the most lucrative prospects.
Perhaps the best example of horses being turned into money-making machines, though, is Galileo.
The legendary sire, who sadly passed away last July, was rumoured to be the first billion-pound horse in history.
Owned by racing supremo and top businessman John Magnier, Galileo charged a reported £600,000 a go when he was at stud.
The money soon added up given he covered three mares a day during the breeding season.
And some of his progeny have gone on to become legends in their own right.
Take unbeaten Frankel, the only horse around now who could conceivably come close to matching his old man’s money-making potential.