Classic-winning owner ordered to pay more than £840,000 in gambling debts
Alan Spence, a racehorse owner, was ordered to pay over £840,000 in gambling debts after a judge ruled his argument of an illegal bookmaker was invalid.Summary
Alan Spence, the owner of classic-winning racehorses Jukebox Jury and Profitable, has been ordered to pay more than £840,000 in gambling debts to David Solomon. Spence argued the debts were unenforceable because Solomon was an unlicensed bookmaker, breaching the 2005 Gambling Act. However, the judge rejected this claim, stating that both men engaged in deception and neither considered their actions morally or legally wrong. The case revealed Spence initially attempted to reduce the debt by falsely claiming insolvency and later fabricated a story about an unlicensed bookmaker named 'George' to explain missing funds. The judge found Spence’s evidence regarding ‘George’ to be untrue and ruled that Solomon’s actions did not negate the enforceability of the debts, totaling £841,520.25 before interest and costs. The judge emphasized Spence’s financial capacity to handle the losses and his awareness of Solomon’s unlicensed status.
(Source：Racing Post)