France Galop banned Phoenix Throrughbreds from horse racing last week because of its owner’s <a href="https://www.bloodhorse.com/horse-racing/articles/242861/phoenix-thoroughbreds-banned-from-racing-in-france" target="_blank" rel="noopener">alleged</a> connection with the Ponzi scheme Onecoin.

It has been reported that in November 2019, the co-founder of Onecoin Konstantin Ignatov told the US court that Phoneix Thoroughbreds owner Amer Abdulaziz Salman was the key money launderer for one of the largest crypto scams in the form of OneCoin.
<h2>High-Profile Racing Professionals Parted Ways</h2>
As soon as the news was out, most of the high-profile racing professionals and key associates decided to separate their ways with Phoenix and its owner. 

According to the reports, on August 14, the regulators eliminated Jojo Rabbit, who had been trained by Archie Watson, from all the forthcoming races.

Notably, for the first time in the nine months, any of the racing authorities have taken official action against Abdulaziz and his organization.

However, Phoenix is still considered to be an important organization at the global level. Many of its operations are being managed in Australia, America, Britain, Ireland and the UAE.
<h2>Phoenix To Not Work With Britain</h2>
A few days ago, Phoenix has announced to not be working with Britain as the country has been planning to immediately cease the organization’s racing operations in the country. But the report says that the group is still receiving entries for racing in the country.

According to the report, France Galop has asked the British Horseracing Authority to soon ban Phoenix and stop accepting any of its entries that are trained in Britain. 

Currently, BHA has not shared his view on the issue.

The report further mentioned that France Galop has denied training any of the horses owned by the Phoneix group.

In the year 2019, when Ignatov was being testified, the investigative journalist ar Inner City Press, Matthew Russel Lee discussed Phoenix Group’s alleged involvement with the scam. 

Russel released a recording of Mark Scott, a former attorney, where he stated, 
<blockquote>“All the money that was not invested. [It] was at the direction of the investors, sent to, umm, another, umm, another financial advisor in Dubai.”</blockquote>
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France Galop Bans Phoenix Thoroughbreds Due To Its Alleged Connection With OneCoin

France Galop banned Phoenix Throrughbreds from horse racing last week because of its owner’s alleged in the Ponzi scheme Onecoin.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

France Galop Bans Phoenix Thoroughbreds Due To Its Alleged Connection With OneCoin

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