I was duped out of $60.000 by a horse trainer what do i do now?

Question

i was asked to go into a partner ship on a horse with my employer.the horse made $180.000 and i had 1/3 of her.the trainer was a very good at training he held a couple of training title's at delaware park.because he duped me,he caused me to have a stroke,and he left me broke.is there any way someone could tell me about what i can do about this.another thing he did is put me down for making $57.000 with the horse.is there something that can be done about this.

Answer 1

What does your employer have to say about the situation? I would make copies of all the documents you have regarding your ownership in this horse. I would contact the licensing authorities in Delaware.

http://dda.delaware.gov/thoroughbred/for...

Good luck to you.

Answer 2

contact the horseracing board, they will have a

hearing and clear all this mess up for you..

good luck and good racing....you can e-mail

me direct at [e-mail]....

Answer 3

Next time, buy 3/3 of the horse.

Answer 4

Do you have a partnership contract?  As a 1/3 owner, you are responsible for 1/3 of all expenses pertaining to the horse.  Depending on the wording, you may have bought into a horse with a big past due balance.  Most trainers also take a percentage of all the horses earnings.  

I have had a similar experience with new racehorse owner(s).  The horse made a little money, but the owner(s) were behind on their bill.  After taking my percentage, I applied the earnings towards the bill on the horse.  I continued to do this until the bill was paid.  After the bill was brought currant, the owner(s) started getting their horses earnings.  Of course, I explained all of this to the owner(s) beforehand, so there was no misunderstanding, nothing underhanded.    

Go to the Stewards, they are the representatives of your state Racing Commission and file a complaint against the trainer.  At the hearing you will be given the opportunity to give your side as will the trainer.  If you were wronged, the Commission can impose sanctions including license suspension or revocation.  

[If a trainers license is suspended or revoked, he/she cannot run a horse until the suspension/revocation is lifted/reinstated.  It is in the trainers best interest to comply quickly with the ruling.  If they can't run, they can't make any money.]