fraud
The former director and chief executive officer of healthcare technology startup Biofourmis Holdings, Kuldeep Singh Rajput, was set to be charged in a Singapore court on Feb. 4 for his alleged involvement in a series of financial crimes, according to a statement released by the Singapore Police Force on Tuesday and reported by the Business Times. The Business Times in Singapore identified the accused as Kuldeep Singh Rajput, the company's founder and former CEO, who stepped down from his role in August 2023. Rajput was also the head of Gandharvi...
Former Steinhoff International Chief Executive Markus Jooste has died at the age of 63, the Financial Times reported on Thursday. Jooste, who was at one point heavily involved on the worldwide racing scene through his Mayfair Speculators, died of an apparent self-inflicted gunshot wound, the FT reported. He was fined R475 million (£19,937,078/€23,234,382/$25,229,382) for accounting fraud--due on or before Apr. 19--by South Africa's Financial Sector Conduct Authority (FSCA) on Wednesday, Reuters reported. The regulator found that Jooste had published "false or misleading financial statements" following an investigation into the matter....
The Gulfstream Park Horsemen Bookkeeper's office will begin accepting ACH enrollment into the new payment program Friday, Dec. 9, it was announced Thursday. Allowing ACH payments will expedite payment time, reduce paperwork, the likelihood of fraud and improve the overall customer service experience of horsemen. Anyone looking to sign up can pick up and complete ACH forms located within the bookkeeper's office during normal operating hours.
In a bankruptcy case already brimming with fraud allegations that has languished in federal court for over a year, the trustee pouring over the finances of Ahmed Zayat filed a new complaint alleging wrongdoing Friday. This latest court action in the twisted saga of the owner and breeder of Triple Crown champ American Pharoah alleges that Zayat and his wife, Joanne, secured a $400,000 mortgage on two back lots adjacent to their New Jersey home in 2018, then had the money wired to the bank account of Zayat's fiscally troubled...
On Mar. 16, Ahmed Zayat asked a federal judge not to grant the trustee in his bankruptcy case extra time that had been requested to scrutinize Zayat's finances so the trustee could make sure the owner and breeder of Triple Crown champ American Pharoah was telling the truth about not being able pay $19 million in debts because he allegedly only had $314.22 to his name. Now, one week later, MGG Investment Group, LP, the lender who is separately suing Zayat and his family members for allegedly obtaining a $24...
Ahmed Zayat, the financially embattled Thoroughbred breeder and owner whose insolvent business dealings are currently being scrutinized in three intertwined legal cases, revealed in an otherwise routine bankruptcy court filing Tuesday that prior to being sued for alleged fraud and loan defaults last year, he had lined up at least two global investment partners purportedly willing to pump hundreds of millions of dollars into his failing racing and bloodstock operation. Most notably, Zayat claimed he had been tantalizingly close--just days away--from securing a $100 million "equity infusion" from an undisclosed...