John Boylan ruled to have bought horse with crime proceeds

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

John Boylan was ruled to have bought a 90% stake in racehorse Labaik with proceeds of crime in the High Court, reported on 25 October 2019. The court also found that a Rathcoole property, bank funds, a mobile home and a Mercedes were acquired with crime proceeds.

Boylan bought the stake for €28,000 in April 2016, while the property refurbishment cost €630,000 and the bank account contained €77,900. The court dismissed his proceedings against the Criminal Assets Bureau after finding a substantial financial shortfall.

The court also found that the bureau had acted appropriately in relation to Labaik, which remained free to race.