Bankruptcy Trustee Warns Lack Of Access To Zayat’s Files Allows For ‘Manipulation Or Destruction’

The ongoing legal issues of Ahmed Zayat, breeder and owner of Triple Crown Champion American Pharoah, took an interesting turn on April 16, reports the Thoroughbred Daily News. The court-assigned bankruptcy trustee had recently been granted an extra month to determine whether Zayat is hiding assets while seeking Chapter 7 bankruptcy protection.

That trustee told the court in an April 16 filing that he still does not have access to Zayat’s documents held on the Cloud, and he wants the court to both “compel turnover” of the files and to “direct” Zayat to cooperate.

“Given the overwhelming allegations of fraud and expected sought-after delay, the Chapter 7 Trustee simply cannot wait any longer for access to the Cloud,” the filing states. “Although Mr. Zayat has represented that the Cloud is secure and that he is aware of his obligations, the longer the information on the Cloud remains in the hands of Mr. Zayat the more susceptible it is to manipulation or destruction, and this ongoing and unreasonable delay impedes the Chapter 7 Trustee’s investigation.”

Read more at the Thoroughbred Daily News.

The post Bankruptcy Trustee Warns Lack Of Access To Zayat’s Files Allows For ‘Manipulation Or Destruction’ appeared first on Horse Racing News | Paulick Report.

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