Ha! I KNEW a few of you would recognize that name.
Look at the consignor on this Keeneland January entry.
:eek:
I can not really say I am that surprised, I would be interested to know who owns this horse. I know his son is still involved in racing, and I presume he was too.
From http://www.time.com/time/nation/article/0,8599,165992,00.html (dated June 30, 2001)
In Bill Clinton’s final days in office last January, a White House lawyer included Rosario Gambino on a list of pardon candidates to be screened by the Justice Department, documents show. No pardon was granted. But at least Gambino — the former owner of Valentino’s Supper Club of Garden City, N.J. — seems to have been considered for a pardon. The White House Counsel’s office included Gambino’s name on a list of pardoned candidates to be sent to the DOJ for criminal background checks. That’s more than a handful of other convicts whose lawyers or relatives sought help from Roger Clinton got out of their deals.
One of them was J.T. Lundy, former head of the famous Calumet Farms who was sentenced last year to 4 1/2 years in prison for bank fraud. Lundy had given Roger Clinton a job at his Kentucky race horse stud farm after Clinton served a prison term in the 1980s for dealing cocaine. By late 1999, Lundy began asking Clinton for help — even before his trial began. Sources told TIME he suggested Roger try to help delay legal action until the final days of the Clinton presidency, a time in which presidents usually grant pardons.
Lundy offered to reward Roger Clinton with stock in a Venezuelan coal deal, sources told TIME. To protect Clinton from discovery of the payment and assure it remained tax free, the sources said, Lundy suggested to Clinton in November, 1999 that Lundy would transfer the stock to a mutual friend, Dan R. Lasater, a Little Rock financier who was convicted in the mid-1980s for buying drugs from Roger Clinton. The House committee has obtained records showing that Clinton deposited in his bank $100,000 in travelers checks on Nov. 30, 1999, with some of the checks purchased in Venezuela.
Lundy’s lawyer, David McGee, told TIME his client had no Venezuelan coal interests to transfer. But a source close to Lundy said a group of his friends from Kentucky did, and Lundy hoped they would facilitate a deal with the president’s brother. Roger Clinton’s lawyer, Bart Williams, said his client never received payment from Lundy and never recommended him for a pardon. Lasater refused comment.
Just quotin’ folks - you draw your own conclusions.
Looks like a nice horse.
I’m curious if Lundy is the/an owner. Otherwise, it seems using such a notorious consignor would be counterintuitive in this era of “consignor integrity.” Not that we should automatically presume Lundy would attempt to conceal anything, but he doesn’t have the best name in the industry and I’m not sure I would want to sell something under it.
Only JT will know what happeden to Alydar on that night at Calumet. Im sorry to say it but he ruined a lot of lives and the life of a very special animal. I dont think they ever proved he actually injuried Alydar…but I would hedge a bet he did it. Just my opinion. Im surprised the bluebloods havent run him out of town yet.
[QUOTE=horsepowerco;2881255]
Im surprised the bluebloods havent run him out of town yet.[/QUOTE]
Actually, if that ever was to have happened it would’ve been a few years ago. It didn’t and his first appearance back at Keeneland was without much of anything in terms of negative reaction. Perhaps persona non grata amongst his old set but not exactly the scarlet letter either.
Flashback September 2004 - “Lundy Returns to Yearling Auction”
Former Calumet Farm president J.T. Lundy has not finished serving his prison sentence for bank fraud, conspiracy, and bribery convictions. But he attended this year’s Keeneland September yearling sale, saying he was helping someone look at horses to buy.
He was released in Jan 2005.
Heh! Finally got around to reading Wild Ride this summer.
I do have to say that I’m shocked that anyone would use JT as a bloodstock consultant.
Correct me if I’m wrong but under his leadership - and ignoring Alydar for a moment - what horses of note were developed or acquired to carry the (since sold off) Calumet skils of devil’s red and blue?
A great eye for spotting potential talented horses? Uh … not so much.
Flashback: New York Times March 27, 1992 “Fabled Calumet Farm Is Sold for $17 Million”
Makes me wonder if honestly really pays.
Someone who wasn’t planning on playing an honest game to begin with.
Those sharks keep quite the book of connections. I’m sure his “clientele” is more interested wheeling and dealing than they are in finding qualilty stock. You don’t go to a guy like that to find a future classic winner or a superb broodmare prospect. You go to a guy like that because you want to make a buck however possible.
[QUOTE=horsepowerco;2881255]
Only JT will know what happeden to Alydar on that night at Calumet. Im sorry to say it but he ruined a lot of lives and the life of a very special animal. I dont think they ever proved he actually injuried Alydar…but I would hedge a bet he did it. Just my opinion. Im surprised the bluebloods havent run him out of town yet.[/QUOTE]
Actually some prosecutor did pretty much prove that SOMEONE broke Alydar’s leg for him but there was nothing to prosecute either because someone wouldn’t pin the blame or the statute of limitations had expired, I forget which. I don’t have the link anymore but there used to be an article on the web. maybe google death of Alydar or something.
And to a post above yeah, the LAST person I’d be asking for bloodstock advice would be JT, he took a goldmine and ran it into the ground because of his sheer ineptitude (plus a good dose of greed and dishonesty).
I’ve noticed the horse world is very um, accepting of “scandel”. Now whether people just don’t care or just pray nobody finds THEM out I don’t know. (wink wink…)
[QUOTE=summerhorse;2881560]
Actually some prosecutor did pretty much prove that SOMEONE broke Alydar’s leg for him but there was nothing to prosecute either because someone wouldn’t pin the blame or the statute of limitations had expired, I forget which. I don’t have the link anymore but there used to be an article on the web. maybe google death of Alydar or something.[/QUOTE]
I don’t recall it being totally conclusive as to ‘how’ it occured - science can be used like clay to mold into one theory or another. It is unlikely JT got his hands dirty physically doing the act if thats how he died. Thugs are easily procured for those tasks.
The most extensive article on the subject was Texas Monthly - June 2001 “The Killing of Alydar” which is available to subscribers only now. A bit more of the article found here and you may qualify for the whole thing depending on your public library.
Once again idiot bankers were in large part behind Calumet’s downfall. Had JT not been allowed to dip into loans, again and again, with no means to get out I doubt any insurance fraud would’ve been necessary. While spectacular it may still pale in comparison to the uber infamous bogus acquisition of the Long Islanders NHL team. Banking at its worst.
Well they proved that the horse could not have broken his leg the way they claim. Because of the nature of the fracture and the nature of the stall door hardware it just could not have happened that way. It had to have been broken by other forces. As to who did it? Who knows? JT was on the grounds and only a flunky who refused to testify was there (officially) to point any fingers. I guess maybe he didn’t want to end up like Alydar!
[QUOTE=summerhorse;2883528]
Well they proved that the horse could not have broken his leg the way they claim. Because of the nature of the fracture and the nature of the stall door hardware it just could not have happened that way. It had to have been broken by other forces.[/QUOTE]
For clarity sake let’s be clear: Alydar’s initial fracture did not result in his immediate death. I think people who are not familiar with this are visualizing he was whacked by someone and dropped dead hours later. Far from it.
New York Times Nov 16, 1990 - “Injured Alydar Is Destroyed And Racing Mourns Again”
excerpt
Alydar, a 15-year-old, first broke a bone in the leg while kicking his stall door Tuesday evening. He broke the second yesterday morning when he stumbled on the leg after a sling was removed and fell at the clinic at Calumet Farms in Lexington, Ky. He was given a lethal injection about 8:30 A.M. and died a few minutes later.
“It wasn’t a hard decision because there was nothing we could do for him,” said Dr. Larry Bramlage, a local veterinarian. Bramlage helped set the initial fracture in surgery Wednesday and was present when the Calumet veterinarian, Dr. William Baker, administered the lethal injection.
Bramlage said the sling had to be removed because Alydar began resisting it Wednesday night after the veterinarians were forced to stop adminstering tranquilizers because the drugs were causing adverse intestinal reactions. He said that there was no way the second fracture could have been set and that the decision to kill the horse had been made jointly by him; Baker; J. T. Lundy, the Calumet president, and Tom Dixon, an insurance adjustor representing the Lloyd’s of London underwriting syndicate.
Dr. Larry Bramlage, in my view, is above reproach in regards to his efforts.
Now to the point in JT having a likely hand in anything viewed as a botched effort, you can look at this statement which sheds the most light … TB Times July 15, 2000:
“The timing of (Alydar’s death) was not coincidental,” Tomala argued. “Circumstantial evidence establishes that Lundy caused the most valuable asset comprising collateral for the loan (Alydar) to be destroyed so that approximately $20,000,000 could be paid to the bank . . . had Alydar lived beyond February 1991, First City likely would have foreclosed and taken everything, including Alydar.”
Before Alydar’s death, First City had informed Calumet that the farm’s line of credit was being shut down pending payment of $47.5-million owed the bank. The farm was given until February 28, 1991 to repay $15-million of the debt and until August 28, 1991 to pay the balance.
Alydar a leading sire worth more than $12-million in annual stud fee revenue to Calumet.
Ultimately the payoff didn’t help JT anyhow as he lost everything he (or rather was his by way of marriage) had with Calumet.
Thirty days after Alydar’s death, Lloyd’s of London paid a $36.5-million insurance claim to Calumet and other holders of the stallion’s breeding rights in the largest equine-related case in history. Calumet’s $20-million share went to First City.
Tomala has relied on an analysis by George Pratt Jr., a professor at the Massachusetts Institute of Technology, who concluded in a letter to the Federal Bureau of Investigation that he believes Alydar’s leg was broken in the stall and the scene staged to look like an accident.
Man, it just goes to prove that no matter how many times that effing mole gets whacked on the head, it always pops up out of another hole. :no:
I remember when he first appeared back on the TB scene a while ago and thinking that some people just have no shame. But as Texarkana said so well, it’s a money thing. Look no further than the hunter/jumper folks who still worship at the feet of the horse killers.
Beezer aint that the freeking truth? It will be a matter of time before someone comes up with a reason to run him out of the business.
The scumbags are resilient arent they?
Theres a TB trainer who was busted for insurance fraud…not sure of the details so I wont go on with hearsay,…lets just say he was caught red handed, has done his time and again has a large string of horses in the NE. Buying a horse off of him is like pulling eye teeth. He comes off very charming and is just the biggest horses A$$ you would ever want to meet.
He keeps coming up smelling like a rose. GO FIGURE!
That’s crazy!! I just finished the book Wild Ride like ten minutes ago!
Amazing. I wonder how many of you people know how much money it costs to have just one horse in training at a major racetrack. Calumet had horses all over the place. Maybe an example of the times (1980s anyone? ) Running a farm like Calumet costs a small fortune. The Marky family has plenty of money left over they will not go broke and all the sensationalism of Wild Ride is a bit much. I think JT put a lot of money in a lot of peoples pockets. He did not kill Alydar that is complete and utter nonsense. The reason he went to jail was for bank fraud for those loans.Do you think JT is the only person ever convicted of a crime who went to jail only to carry on with his life??
[QUOTE=hipsdontlie;2927388]
Amazing. I wonder how many of you people know how much money it costs to have just one horse in training at a major racetrack. Calumet had horses all over the place. Maybe an example of the times (1980s anyone? ) Running a farm like Calumet costs a small fortune. The Marky family has plenty of money left over they will not go broke and all the sensationalism of Wild Ride is a bit much. I think JT put a lot of money in a lot of peoples pockets.[/QUOTE]
I wouldn’t discount the wealth of hands on racing knowledge many of the more vocal contributors have in the forum. We all know racing isn’t cheap - never has been, never will be - but we also don’t think Wild Ride understated the downfall of what had once been a dynasty.
Indeed JT did put a lot of money in a lot of folks pockets. The leased jets, cars, and lot of unsuccessful horse flesh enriched the purveyors of those items. Some parts of the Markey family I’m sure were by the time JT ‘took over the shop’ long removed from racing and horses.
Regarding the cost of keeping a huge operation going I’m hard pressed to think of any family today who has a large stable of horses with their primary source of wealth being just racing. Even back in the day most stables were owned by successful businessmen who could afford to devote a sizable fortune into racing. That holds true today with people like Robert McNair (Stonerside Stables) and his fortune from industrial power plants, Michael Pegram with his significant McDonald’s franchises in CA, the late Bob Lewis and his Budweiser franchise holdings.
Still by the time JT rolled around I’m pretty sure Calumet was a bit of a pure play operation whereby its fortunes rose and sank depending on racing and breeding. That put it in a terrible spot if the spending went up and the purchases either failed to yield a return or worse yet were just depreciating luxury items.
The man was found guilty of bank fraud.
Who in their right mind would trust him?
