Phoenix Thoroughbred Go Into Liquidation

🏆£20 RISK FREE first bet at Paddy Power on any sports market - money back in CASH if your selection loses 🏆
New customers only, limited to one per person. If you’ve previously had a Paddy Power account, you will not qualify for the offer. Place your FIRST bet on any Sportsbook market and if it loses we will refund your stake in CASH. Max refund for this offer is £20. Only deposits made using Cards or Paypal will qualify for this promotion. T&Cs apply. Paddy's Rewards Club: Get a £10 free bet when you place 5x bets of £10+. T&Cs apply.
Claim Bonus

Owner of the well known flat racing Phoenix Thoroughbred group, Amer Abdulaziz Salman’s Phoenix Luxembourg Fund, which as said by its founder to be “the world’s first regulated thoroughbred fund”, has been placed into voluntary liquidation amidst the allegations of the owner stealing €100m to fund the project.

The 56 year old set up the ownership group back in 2017 and on many occasions has spoken about the fund being set up in Luxembourg so the operation can be as transparent as possible.

(Credit Racing Post) Speaking back in 2018 Abdulaziz said: "We've been working on the project for four years getting the structure and investors in place and we're going to be fully regulated by the authorities in Luxembourg within the next two to three weeks.

"We have fund managers to report back to, and transparency has to be 200 per cent being regulated in Luxembourg. We like the transparency."

Later on in that year he said: "Our legal structure is very unique. We're the only regulated [thoroughbred] fund worldwide, which for me is a huge achievement.

“To come up with a legal structure like that wasn't easy and took a lot of effort. We're unique and very proud of that."

The Phoenix Thoroughbred name has now been put in disrepute with it going into Liquidation and it being up in the air what is going to happen to the horses they own.

They have had some superb horses over the last few years with multiple Group One winner Advertise leading the way for the group along with second in the Dubai World Cup with Gronkowski.

(Credit Racing Post) A source with knowledge of the situation said: "This fund never got off the ground. It never did business and wasn’t approved for any assets.

"Imagine someone built a warehouse, hired a manager. That manager never showed up for work, nothing ever went into the warehouse or went out of the warehouse."

Abdulaziz was named in a US court this month by a witness in a huge money-laundering trial in regards to a cryptocurrency scam through the company OneCoin. 

The witness alleged Abdulaziz acted as a key money launderer for the operation before stealing €100 million from the scheme to fund his Phoenix Thoroughbred.

🏆£20 RISK FREE first bet at Paddy Power on any sports market - money back in CASH if your selection loses 🏆
New customers only, limited to one per person. If you’ve previously had a Paddy Power account, you will not qualify for the offer. Place your FIRST bet on any Sportsbook market and if it loses we will refund your stake in CASH. Max refund for this offer is £20. Only deposits made using Cards or Paypal will qualify for this promotion. T&Cs apply. Paddy's Rewards Club: Get a £10 free bet when you place 5x bets of £10+. T&Cs apply.
Claim Bonus

Free Bets & Offers

🚀 Bet £5 Get £20 in Free Bets!
FIRST SINGLE & E/W BET ONLY. ODDS OF 1/1 OR GREATER.2 X £10 BET TOKENS. FREE BET STAKES NOT INCLUDED IN RETURNS. FREE BETS ARE NON WITHDRAWABLE. NO FREE BET EXPIRY. ELIGIBILITY RESTRICTIONS. FURTHER T&CS APPLY. 18+. BEGAMBLEAWARE.ORG
Claim Bonus
🥊 Tyson Fury to win by KO/TKO/DQ @ 100/1! 🥊
New Customers bet max £1 bet on Tyson Fury to win by KO, TKO or Disqualification and get a £5 Live Casino bonus;' 40x wagering to release winnings; 3 day expiry. If Tyson wins, get the Enhanced odds paid in free bets; to be used on any sports market; cashed out bets excluded. Offer available from 09:00GMT on Friday 14th February 2020 and 04:00GMT on Sunday 23rd February 2020. Credit or Debit card only, minimum deposit £5. Geographical Restrictions and T&Cs Apply. 18+ | begambleaware.org | Please gamble responsibly
Claim Bonus
GET A £20 RISK FREE FIRST BET!
New customers only. Sportsbook bets only, minimum odds 1/5 (1.2). Refunds are awarded as CASH, up to a max of £20 . Only deposits made using Cards or Paypal are eligible. Qualifying bet must be placed and settled within 30 days of account opening. T&Cs apply.
Claim Bonus
🚀 GET UP TO £50 IN FREE BETS 🚀
New customers only. Min deposit £20 to £50 to get free bets. Free bets rewarded as 4 free bets that total deposit amount. Free bets unlocked when real money bets (min odds 1/2) totalling free bet amount are placed within first 7 days. Min odds 1/2, 2+ legs & expire in 7 days. Winnings credited in cash. Full T&Cs apply.
Claim Bonus
🌟 Bet £5 & Get £30 in Free Bets 🌟
New customers only. Deposit and place a £5 qualifying bet add odds of 2.00 or greater within 7 days of opening a new account; excludes cashed out bets. Receive 2x £10 free sports bets, valid on set events only at odds 2.00 or greater, expires in 7 days, plus a £10 casino bonus, expires in 7 days. Wager the casino bonus 35x to withdraw winnings. Credit/debit card deposits only. Geographical restrictions and T&Cs apply. Please gamble responsibly.
Claim Bonus
🏆£20 RISK FREE first bet at Paddy Power on any sports market - money back in CASH if your selection loses 🏆
New customers only, limited to one per person. If you’ve previously had a Paddy Power account, you will not qualify for the offer. Place your FIRST bet on any Sportsbook market and if it loses we will refund your stake in CASH. Max refund for this offer is £20. Only deposits made using Cards or Paypal will qualify for this promotion. T&Cs apply. Paddy's Rewards Club: Get a £10 free bet when you place 5x bets of £10+. T&Cs apply.
Claim Bonus
🔵 Bet £5 & Get £20 in Free Bets! 🔵
18+ Eligible UK+IRE players. Paypal & some deposit & bet types excl. Min first £5 bet within 14 days of account reg at min odds 1/2 = 4x £5 free bets. Free bets valid for 7 days, stake not returned. No cashout, restrictions + T&Cs apply
Claim Bonus
Bet £10 & Get £30 In Free Bets 🚀
New Customers Only in UK. Min Deposit: £10. Free Bet up to £30. Credit/Debit Card deposits only. Free Bet credited upon playthrough of first deposit. Deposit must be wagered at 3/4 (1.75)+ Full Terms Apply
Claim Bonus
When The Fun Stops. Stop.