Phoenix Thoroughbreds: Guilty Until Proven Innocent?

Phoenix Thoroughbreds: Guilty Until Proven Innocent?

There has been a lot of rumor and speculation about Phoenix Thoroughbreds but that is all there has been.

France and England both moved to ban the group despite there being no conviction, no charges but mere rumor and speculation, is that really the way the industry is supposed to work?

The ownership group, headed by Amer Abdulaziz, has been subjected to unfair treatment due to “concerns” over the source of funding for the organisation’s multi-million-dollar spending.

“Concerns” whatever they maybe, are not sufficient grounds to warrant action of any type apart from an investigation, “concerns” do not justify a conviction and the penalties imposed on Phoenix.

One of the most sacred principles in the justice system, holding that a defendant is innocent until proven guilty. In other words, the prosecution must prove, beyond a reasonable doubt, each essential element of the crime charged.

It is in line with article 11 of the Universal Declaration of Human Rights which says that every person who is charged with a crime has the right to be presumed innocent until proven guilty.

Except it seems for Phoenix Thoroughbreds.

Without Racing Authorities upholding the rule of law anyone could be convicted and banned in the court of public opinion without a fact or defense ever being presented, completely unacceptable.

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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