Trainer Brent Stanley has been disqualified for nine months for his involvement in the sale of the racehorse Equita to Hong Kong.
Brent pleaded guilty to three breaches of Australian Rules of Racing at the Racing and Disciplinary board hearing on Monday.
He was disqualified for nine months on one charge of AR 175 (a) and three months each on two charges relating to AR 175 (g), however all three disqualifications are to be served concurrently, commencing at midnight March 28.
Brent told the owners of Equita it was sold to Hong Kong for $200,000 when the actual price paid by trainer Danny Shum was $300,000.
$290,000 was transferred to jockey Glyn Schofield who kept $20,000 commission, paid Brent Stanley $20,000 in cash and transferred the remaining $250,000 to the personal account of Brent Stanley’s wife.
There was $200,000 paid from Mrs Stanley's account into that of Brent’s business Cloud 9 Thoroughbreds for dispersal to the owners of Equita.
Brent did subsequently repay $70,000 to the owners of Equita, who include RVL Chairman David Moodie.
The rules of racing Brent Stanley breached read:-
AR 175 (a) Any person, who, in their opinion, has been guilty of any dishonest, corrupt, fraudulent, improper or dishonourable action or practice in connection with racing.
AR 175 (g) Any person who gives at any interview, investigation, inquiry, hearing and/or appeal any evidence which is false and/or misleading in any particular.
In his summing up James Ogilvy, appearing for Racing Victoria stewards, asked for a disqualification.
"This is an extremely serious offence,” Ogilvy said. "Owners should have confidence in their trainer.
"What Mr Stanley did was take money that was not his in a gross deception from people that had supported him.
"Mr Stanley has betrayed longstanding clients and friends and his conduct is a flagrant breach of trust and has tarnished the image of racing. To describe it as a mistake is to downplay the seriousness of the offence.
"The racing industry relies on owners who should be able to take what their trainer says as gospel. In this case that has not happened.”
Phillip Dunn QC, appearing for Stanley, said there were several mitigating circumstances.
"He (Stanley) is drowning in debt and he made a wrong decision,” Dunn said.
"He’s been publicly shamed and his reputation has suffered. Plenty of us have made a bad choice - it doesn’t mean you’re a bad person.
"To put him out of business is a high price. It’s a very hard lesson to learn.”
Earlier in the day jockey Glyn Schofield was fined $50,000 for his role in the sale of Equita.
In handing down his decision Judge Bowman said the board would publish its reasons at a later date.
Dynamic Syndications did have one horse in Brent Stanley’s - Cloud 9 Stables named No Pain No Gain. Upon the announcement of Brent’s disqualification, our 3yo was transferred into the care of trainer David Brideoake.