One of Australia’s biggest racehorse buyers wasn’t told by authorities that his partner’s prizemoney had been frozen indefinitely and found out through The Australian Financial Review three months later.
Aquis group chairman Tony Fung, the billionaire owner of the Canberra casino and the Dubai-based Phoenix Thoroughbreds, spent $11.6 million on 19 prospective race horses at the Gold Coast Magic Millions yearlings auctions in January. No other bidder spent more.
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Aaron Patrick is the senior correspondent. He writes about politics and business from the Sydney newsroom. Email Aaron at apatrick@afr.com
