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CAB claims stake in Cheltenham novice winner was bought with proceeds of crime
Summary
In a High Court hearing on 11 April 2019, trainer Gordon Elliott denied that he had spoken to John Boylan, the 32‑year‑old alleged drug dealer, about the purchase of Labaik, a horse that won the Supreme Novice's Hurdle at Cheltenham in March 2017. Elliott, who owns 5 % of Labaik, stated that the horse's 90 % share is held by Boylan, registered to Anthony O'Sullivan. He described Labaik as a "massive engine" with a quirk, noting the horse suffered a career‑threatening injury at Punchestown in April 2017. Elliott said the horse's value after Cheltenham was €250,000‑€300,000 but was now "not worth very much." Boylan has sued CAB for losses from the injury, while CAB alleges the horse was bought with proceeds of crime. The court will decide whether the purchase was financed by illicit funds and whether damages can be claimed. The judge will reserve judgment.
Who, what, where, when and why
What: Report matter: CAB claims stake in Cheltenham novice winner was bought with proceeds of crime. Procedural stage: trial
When:
- April 2017 Hearing Or Sentence
- April 2016 Other
- March 2017 Other
- 2019-04-11 Publication
Places mentioned
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