Sales chief backs Felice as report warns of money laundering link to bloodstock

Goffs supremo Henry Beeby has offered 100 per cent support for Justin Felice after the former senior police officer urged the bloodstock industry to be vigilant in the face of an increased threat of money laundering and revealed the sector may already have been used in three known offences.

Felice made a host of recommendations in his BHA-commissioned report on the buying and selling of horses, with the document, published on Thursday, including a dramatic revelation regarding potential criminal activity.

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The report stated: "It is clear there is a very significant amount of money circulating within the bloodstock industry and, given the increasingly international nature of the industry participants and the nature of some of the improper practices, the review team is concerned the bloodstock industry is vulnerable to the criminal offence of money laundering.

"The review team is aware of three examples where the bloodstock industry has been or may have been used for a money laundering offence. Some of these cases have involved either investigation by the police leading to criminal convictions or a report being submitted to the National Crime Agency."

Justin Felice: 'It is apparent the bloodstock industry has been linked to money laundering offences and related investigations'

Felice added: "Whilst the review team is not aware of the outcome or indeed the current status of these matters, it is apparent the bloodstock industry has been linked to money laundering offences and related investigations.

"The review team finds that money laundering is potentially a significant risk to the bloodstock industry. The industry should be vigilant to such a threat and there is a clear need for all anti-money laundering systems to be kept under regular review and for relevant industry participants to be educated on the subject.

"The review team is not aware of any of these known money laundering cases being brought to the attention of the BHA prior to the relevant law enforcement authorities."

Reponding to those comments, Goffs group chief executive Beeby highlighted existing efforts to prevent money laundering.

He said: "We are now governed by so much legislation around anti-money laundering and in Goffs we no longer take cash as payment for any horse. We would therefore be 100 per cent in agreement with what Justin Felice said. We were already doing it and we will do it."

A spokesman for the National Crime Agency said: "We talk with regulators and try to work with them to assist in any way we can on any matters brought forward. In theory, we could provide examples of where we can assist with prevention and education as well.

"This is not specific, as we work with a variety of regulators in intervention, and if requested we can help try to resolve things."

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