Phoenix Fund proprietor Amer Abdulaziz Salman is feeling the warmth after Konstantin Ignatov make clear his involvement in OneCoin.
Based on the previous OneCoin CEO, Abdulaziz used Phoenix Fund to assist mark Scott launder $110 million {dollars}.
Based on Konstantin, no matter OneCoin was paying him was not sufficient. This prompted Abdulaziz to skim funds off the highest.
Amer Abdulaziz, after he stole €100m from OneCoin, he began shopping for racehorses for, like, €25m. [He was] one of many primary money-launderers for Ruja.
As per Konstantin’s quoted testimony above, Abdulaziz (proper) is believed to have used stolen OneCoin funds to arrange Phoenix Thoroughbreds.
Abdulaziz has used Phoenix Thoroughbreds to create a reputation for himself in worldwide racing circles.
Dubai-based Abdulaziz, 56, launched Phoenix Thoroughbreds in 2017 because the “world’s first regulated thoroughbred fund” and has since change into probably the most high-profile figures in worldwide racing and bloodstock, usually flexing the numerous monetary muscle of his fund on the gross sales and thru personal purchases.
When queried on the supply of funds used to arrange Phoenix Thoroughbreds earlier this yr, Abdulaziz refused to reply the query.
Within the aftermath of the scandal Abdulaziz’s horse dealer give up, citing concern over Abdulaziz’s position in OneCoin.
Earlier right this moment Phoenix Thoroughbred got here out swinging in response to Konstantin Ignatov’s testimony.
Phoenix Fund Investments LLC categorically denies all allegations made towards , and its proprietor Mr. Amer Abdulaziz, in authorized proceedings towards OneCoin and its conspirators within the US.
Phoenix Fund Investments LLC believes that the agency and Mr. Amer Abdulaziz have acted in accordance with the legislation always, and can vigorously content material all allegations of wrongdoing.
Phoenix Fund Investments LLC will totally cooperate with related authorities ought to they require help.
Phoenix Fund Investments LLC is at present in search of authorized recommendation and can take acceptable motion towards these concerned within the publication of false and defamatory statements.
After that assertion was printed it got here to gentle Abdulaziz has put Phoenix Thoroughbreds into voluntary liquidation.
The Racing Publish requested each the DOJ and FBI whether or not Abdulaziz was below investigation, nevertheless neither company was keen to verify he was an individual of curiosity.
The British Horseracing Authority nevertheless confirmed to the Irish Discipline ‘it’s conscious of the state of affairs and dealing with the related authorities “as a precedence.”’
Phoenix Fund is believed to be tied to Mark Scott’s Fenero Fund by means of Financial institution of Eire accounts.
US authorities have so far arrested Scott himself and confederate David Pike.
Scott was convicted final week and is going through fifty years in jail
Amer Abdulaziz Salman relies out of Dubai. Dubai doesn’t have an extradition treaty with the US.
Replace twenty second January 2021 – Phoenix Thoroughbreds have now been banned from operating horses in Dubai.
Because it stands Amer Abdulaziz Salman can’t run horses within the UK, France or wherever within the UAE.
There was discuss of Australia banning Phoenix Thoroughbreds nevertheless it doesn’t seem something got here of that.
Replace seventeenth April 2021 – Minor replace from Australia, courtesy of the Australian Monetary Overview;
Contacted this week, the Queensland Racing Integrity Fee stated Phoenix allowed the registration of its possession syndicate there to lapse final June, which meant the state had no cause to research.
However, on Friday afternoon, Racing NSW and Victoria Racing stated they might freeze Phoenix’s prize cash till its authorized circumstances have been resolved. The NSW choice was made in January and never disclosed till now.
Whereas the selections don’t prohibit Phoenix horses from competing, they’re a blow to Abdulaziz’s popularity in one of many world’s main horse-racing nations.
The thoughts boggles as to why Abdulaziz hasn’t been arrested but.