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First Light Racing P/L. - Racing Talk - Racehorse TALK

Author Topic: First Light Racing P/L.  (Read 451 times)

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Offline Bubbasmith

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O.P. « 2018-Nov-28, 09:37 AM »
On 8 June 2018, Racing Victoria (RV) Stewards charged First Light Racing Pty Ltd with two breaches of AR175A and two breaches of AR175(gg) whilst its directors, Tim Wilson and Sam Kilkenny, were each charged with two breaches of AR175(a) and two breaches AR175(gg).
Stewards have been notified by First Light Racing Pty Ltd, and its directors Tim Wilson and Sam Kilkenny, of their intention to plead guilty to the charges issued under AR 175(gg) for the failure of First Light Racing and its directors to disclose relevant conflicts of interest in the Product Disclosure Statements for the Unnamed Charge Forward x Trois Couleurs 2016 Colt (Unnamed Colt) and Arizona Belle.
AR 175(gg) reads as follows:
“AR 175 The Principal Racing Authority (or the Stewards exercising powers delegated to them) may penalise:
……
(gg) Any person who makes any false or misleading statement or declaration in respect of any matter in connection with the administration or control of racing.”
Stewards have accepted the guilty pleas and, under the powers of the Victorian Local Rule of Racing 6C (2A), have imposed fines of $5,000 each on First Light Racing, Mr Wilson and Mr Kilkenny for the breaches of AR 175(gg) (being $15,000 in total).
Stewards have elected to withdraw the charges under AR175A against First Light Racing Pty Ltd and the charges under AR175(a) against Tim Wilson and Sam Kilkenny.
In determining the penalties for the breaches of AR 175(gg), Stewards have taken into account the pleas of guilt and the co-operation of First Light Racing and each of its directors during the investigation, which included the review of various Product Disclosure Statements.
Stewards will also allow First Light Racing to syndicate the Unnamed Colt pending appropriate disclosure being made in the Product Disclosure Statements for the Unnamed Colt.

Giddy Up

Offline Authorized

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« 2018-Nov-29, 05:27 PM Reply #1 »
Mr Ignorance here,

Just how serious is this crime ?


Offline Bubbasmith

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« 2018-Dec-01, 12:19 PM Reply #2 »
Who knows ? They might have owned the horse before they bought it at auction from themselves, then attempted to syndicate it at an inflated price based on an inflated auction price.
Fine of $5,000 each person and syndicate company does not seem much, but horse might not be worth much more than the $15,000 they were fined in total.

Offline Bubbasmith

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« 2018-Dec-02, 02:47 PM Reply #3 »
A little more on the RV stewards decision......

One of the FLR Directors is the personal accountant of Racing Minister Pakula!

« Last Edit: 2018-Dec-02, 03:03 PM by Bubbasmith »


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