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Image: Steve Hart
Farnan was one of the high profile horses owned by Phoenix Thoroughbreds

Leading race horse owner Phoenix Thoroughbreds, which in its day was one of the biggest investors in race horses in Australia, has had its prize money frozen by Racing NSW following allegations the founder was involved in money laundering.

Racing NSW chairman of stewards Marc Van Gestel said that the prize money won by Phoenix Thoroughbreds’ horses would be set aside while the legal cases were resolved.

“Racing NSW has investigated the matter and any allegation made in respect to legal proceedings internationally is denied by Mr Abdulaziz,” Mr Van Gestel told AFR.com.

“Pending the outcome of those matters Racing NSW is freezing the prizemoney of horses raced by Phoenix Thoroughbreds.”

Racing NSW and other Australian racing bodies said last year, that they were looking into Phoenix’s operations after it was banned from racing horses in France.

In January, Phoenix and Canberra casino owner Tony Fung was the top buyer at the Magic Millions yearlings sale having spent $11.6 million on 19 horses.

Last years Golden Slipper winner Farnan is one of the high profile horses owned by  Phoenix Thoroughbreds.

 
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