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Retired race horse rescue group is accused of neglect by Attorney General Eric Scheiderman

AG says Thoroughbred Retirement Foundation spent itself into insolvency
Retired race horse rescue group is accused of neglect by Attorney General Eric Scheiderman

A nonprofit organization responsible for rescuing and caring for retired racehorses is accused in a new lawsuit of neglecting the animals.

In the suit filed Thursday in Manhattan State Supreme Court, state Attorney General Eric Schneiderman charges that the Thoroughbred Retirement Foundation board spent itself into insolvency after taking on too many horses.

The Saratoga Springs-based organization cares for more than 1,100 retired thoroughbreds.

The TRF has had a negative cash flow since 2005, operates at a “substantial deficit” and is chronically late in its payments to those who take care of its horses.

Despite the problems, the TRF accepted more than 500 new thoroughbreds between 2006 and 2010 — all while paying far less on their care than other rescue groups — the lawsuit says.

The problems have resulted in “the neglect, suffering, and even death, or horses in its herd,” Schneiderman’s suit alleges.

The lawsuit claims many horses did not receive adequate feed, maintenance like tooth filing and hoof trimming, and treatment for injuries.

The TRF in a statement “vehemently” denied what it dubbed “baseless allegations” and promised to “pursue every legal avenue” to defend itself.

“Most importantly, TRF horses stabled at facilities through the U.S. are well-fed and properly cared for in appropriate settings and remain in excellent health,” the statement said.

Schneiderman accuses the TRF board of engaging in “a series of financially irresponsible transactions” to balance the books. The group
is also accused of borrowing money to pay off existing debt — including outstanding loans from two of its directors — and raiding the TRF’s endowment fund.

Source: NY Daily News


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