More on KentOnline
More on KentOnline
A horse racing syndicate, run by a former police officer, remains the subject of a fraud probe.
Mike Stanley, from Sandling, Maidstone, established Layezy Racing, a betting syndicate which is thought to have tempted thousands of punters to invest their savings into sophisticated horse racing gambling markets.
He also established the Layezy Racing Owners Club, which owned 23 horses, many of which gained notoriety.
However, Mr Stanley declared bankruptcy in February, leaving investors unlikely to recoup what they have paid into the syndicate.
The British Horseracing Authority (BHA) also stopped the club's 23 horses from racing.
The BHA said: "Anyone who feels they may be a victim of fraud can contact Action Fraud, the UK's national reporting centre for fraud and cyber-crime.
"Under the Rules of Racing, insolvent individuals or entities are not permitted to own and run racehorses. As such, those horses will not be allowed to run until further notice."
The insolvency service has advised anyone who had invested to contact the trustees to register as a creditor.
Duff and Phelps has been appointed to handle the bankruptcy.
A source close to Duff and Phelps said the investigation would look at how many investors there were, whether any were owed money and how much that might be.
Just over a week after Mr Stanley declared bankruptcy, a spokesman for Kent Police said: "A warrant has been executed at an address in Kent and a man is attending a police station voluntarily as part of an investigation into the alleged fraudulent practices of a betting syndicate.
"Detectives from the Kent and Essex Serious Crime Directorate carried out an early-morning pre-planned search of a property in Sandling, near Maidstone."
