A man, as ruled by High Court, purchased ninety percent of the winning horse, Labaik, from the Cheltenham Race using crime proceeds.
Aside from the €28,000 racehorse stake he bought in April 2016, the Criminal Assets Bureau also handled another case against John Boylan, also known as John Power, 33 years old from Dublin, wherein the court discovered that a €33,000 mobile home, Mercedes Benz 2015 E Class, a €77,900 bank account, and a €630,000 refurbished west Dublin property were also bought using crime proceeds.
In his defence, Mr. Boylan claimed that it was through the considerable money he acquired from gambling as well as his animal feed enterprise that he was able to purchase and own such.
The judge stated that in his statement in court, Mr. Boylan claimed that in June 2016, he established Forest Hill Animal Feeds Limited and still works at his said company to this day earning himself €419.56 weekly. In addition to this, he claimed that he acquired significant amounts from gambling as well.
Nonetheless, Justice Carmel Stewart of the High Court ruled on Friday that the investigation of Mr. Boylan’s substantial financial shortage made her suspiciously conclude that the items may have been in fact a direct or indirect result from crime proceeds. She also discharged the plenary proceedings that Mr. Boylan, along with Benedict Ó Floinn BL as his representative, filed against the bureau.
In an attempt to clear his name, Mr. Boylan brought the trial against Cab stating that due to Cab’s decision of letting the horse race, he had suffered financial forfeiture due the horse sustaining an injury at a race last April 28, 2017.
Despite this, the judge declared that the amount which Mr. Boylan gave in compensation for the horse was “exaggerated and, at a minimum, speculative”.
The racehorse was denied travel as its passport was confiscated by the Cab officers and was given back to Gordon Elliott, the horse trainer. In summary of the hearings, the horse is declared free to participate again in races. Mr. Elliott stated that plans for it to race in either November or December are in the works.