Courts / Dublin / Report
Majority stake in Cheltenham-winning horse bought with proceeds of crime
Summary
The High Court ruled that John Boylan, also known as John Power, acquired a 90 per cent stake in the Cheltenham-winning horse Labaik, a west Dublin property, a bank account, a mobile home, and a 2015 Mercedes Benz E Class with the proceeds of crime. Ms Justice Carmel Stewart found a substantial financial shortfall in Boylan's declared income, leading to the inescapable conclusion that these assets were directly or indirectly derived from criminal proceeds. Boylan, who denied the allegations and claimed earnings from gambling and an animal feed business, also brought plenary proceedings against the Criminal Assets Bureau (CAB). He alleged negligence and breach of duty regarding an injury Labaik sustained at Punchestown in April 2017, claiming CAB prevented him from selling the horse after seizing its passport. The judge dismissed these claims, finding Boylan's assessment of the horse's value and the injury's extent to be exaggerated and speculative. She determined that CAB acted appropriately, with no malfeasance or negligence, and that trainer Gordon Elliott was a truthful witness. The court noted Boylan had 67 previous convictions, including two for drugs offences. The matter was concluded with the assets identified as proceeds of crime and Boylan's civil claims against CAB dismissed.
Who, what, where, when and why
What: Report matter: Majority stake in Cheltenham-winning horse bought with proceeds of crime. Procedural stage: trial
When:
- April 2016 Hearing Or Sentence
- February 2016 Hearing Or Sentence
- January 2016 Hearing Or Sentence
- August 2017 Hearing Or Sentence
- April 28th, 2017 Other
- March 2017 Other
- April 2017 Hearing Or Sentence
- 2019-10-25 Publication
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