Having been charged by the U.S. Securities and Exchange Commission earlier this week in an alleged Ponzi scheme, Jason Dodd Bullard, who operates Empire Racing Stables LLC, has had his Minnesota owner's license suspended by the state's Racing Commission.
According to a release from the MRC, “control of all assets, including the Thoroughbred racehorses in Minnesota owned by Jason Dodd Bullard and Empire Racing LLC, have been transferred to a court-appointed receiver.” The order was issued by United States District Judge David S. Doty.
The two-paragraph statement from the MRC continues: “Pursuant to Minnesota Rule 7897.0130, Subpart 4(E), Jason Dodd Bullard may not benefit financially from the racing, training, or caring of horses at a licensed racetrack while serving this suspension. At the direction of the court-appointed Receiver, the horses will be allowed to compete at Canterbury Park while the case is being investigated but all financial gains from horses competing in Minnesota for Empire Racing Stables, LLC will be controlled by the court-appointed Receiver pursuant to the order from Judge Doty.”
Not a subscriber? Click here to sign up for the daily PDF or alerts.
