- Mail Sport investigated Stanley’s Layezy Racing group back in 2019
- It followed grave concerns from members they’d invested in a Ponzi scheme
- Stanley faces five counts of fraud and is due to appear in court on March 7
An ex-police officer – arrested following a Mail Sport investigation – has been charged with defrauding thousands of members of a horse racing syndicate.
Mike Stanley faces five counts of fraud in connection with the Layezy Racing group, which he set up in 2010.
A former sergeant with Kent Police, he was at the centre of our probe in 2019 which examined grave concerns from panicked members that the syndicate – which appeared to be delivering incredible returns – was actually a Ponzi scheme.
Now, following an investigation of close to five years, Stanley has been charged.
A statement from Kent Police confirmed that the 67-year-old, of Resolution Close, Walderslade, is accused of defrauding members of the Layezy Racing group between 2013 and 2019.
Mike Stanley, the owner of horse racing syndicate Layezy, has been charged with five counts of fraud and will appear in court on March 7
Mail Sport investigated the Layezy syndicate back in 2019
Police conducted a five-year investigation into Stanley, an ex-policeman, in a ‘complex’ probe
It described the probe as ‘complex’ and added that Stanley had been charged with one count of dishonestly making false representations to members of the group, one count of knowingly running a business for a fraudulent purpose contrary to the Fraud Act 2006 and three counts of knowingly running a business for a fraudulent purpose contrary to the Companies Act 2006.
He has been bailed and is due to appear at Sevenoaks Magistrates Court on March 7.
At the time of Stanley’s arrest the group had attracted close to 6,000 members.