Syndicate probe

INSOLVENCY experts have asked members of a gambling syndicate that suddenly closed last week to detail how much they invested, with thousands of people fearing they have lost their money. Members of the Layezy Racing syndicate and racehorse owners group, which was run by ex-Kent Police officer Mike Stanley until last Friday, were informed this week that financial advisers Duff and

Phelps have been appointed to ‘process refunds to members’. Members poured money into the syndicate, often borrowing against their properties or on credit cards. Some members claim to have as much as £500,000 in the scheme. The total invested looks to be tens of millions.