Racing trainer who sold fake horse gambled away $2million before bankruptcy

In 2017, a former New Zealand harness-racing trainer was found guilty of fraud after marketing a fictitious horse. He allegedly bet more than $2 million illegally before declaring bankruptcy this past week.

The suspect filed for bankruptcy a month prior to his racing ban, with $270,000 in outstanding debts.

He bet over $2 million on horse and dog races just before that, though, and lost nearly $1 million. The New Zealand Insolvency Act makes that illegal.

 

[Qwert135]

This actually shows that the effect of gambling can always be pretty much bad and therefore we should always do it when we can control it when we do not have the control it can lead to harmful consequences and therefore it should only be done by the people who are having control of their activities always