Boss Of Syndicate Named In Fraud Case


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International racehorse syndicator whose interests extend to Australia, has been named in a New court as a major figure in a fraud case.

The Racing Post reported Abdulaziz was implicated in a major money-laundering operation for an international cryptocurrency fraud from which he allegedly stole EUR100 million before launching his global racehorse ownership enterprise.

Konstantin Ignatov, the co-founder of fake cryptocurrency OneCoin, made the claim during his testimony under oath at the trial of lawyer Mark Scott, who last week was found guilty of fraud and laundering $400m in illegal funds for the OneCoin founders.

The Dubai-based Abdulaziz, 56, launched Phoenix Thoroughbreds in 2017 as the “world’s first regulated thoroughbred fund”.

Among the horses Phoenix owns or part-owns in Australia are Group One winners and .

Ignatov, who pleaded guilty this month to money-laundering and fraud as part of the estimated $4 billion scam, has been co-operating with US prosecutors and alleged Abdulaziz was one of the operation’s web of money-cleaners under the guidance of Gilbert Armenta, of OneCoin’s other co-founder Dr Ruja Ignatova.

Ignatov went on to claim Abdulaziz stole from the scam, which involved the creation of a fake cryptocurrency that investigators say in fact amounted to a Ponzi scheme.

Ignatov added the theft was not reported as “the money came from a criminal activity”, while Abdulaziz is allegedly named in emails between Ruja Ignatova and her co-conspirators, the Racing Post said.

In an interview earlier this year, the Dubai-based Abdulaziz said he created Phoenix as an equine investment fund geared towards providing investors with a “sustainable return realised through acquisition and breeding of top-quality thoroughbreds” and claimed to have raised $250m.

Having initially had horses solely with former trainer , Phoenix has grown to an estimated 300 horses, including stallions and broodmares, with 27 trainers on five continents, according to its website.

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