Ponzi scheme

Jason Dodd Bullard, who was accused of perpetrating an eight-year "Ponzi" scheme that bilked friends and investors out of $3.1 million that he spent, in part, on building a 24-horse Thoroughbred stable based at Canterbury Park, got sentenced to 4 1/4 years in federal prison Oct. 12. The order out of United States District Court of Minnesota also includes a mandate that Bullard repay what he stole from his victims. Bullard's stable, Empire Racing, LLC, was the co-winningest owner in terms of victories at Canterbury in 2019. The outfit finished...

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...