Greek-Australian expat businessman Bill Vlahos who paid five million dollars for a horse has had his investment wiped out by a spider. The horse named Jimmy, which was the half-brother of the famous Blac Caviar which won numerous races and huge amounts of money, died after apparently being bitten by the arachnid.
Not only did Vlahos lose his horse, but also the five million dollars that investors in his company, BC3 Thoroughbreds had paid in order to make the purchase.
The investors are now demanding their share of the insurance company payout for the loss of the horse.
The death of the horse is a bizarre twist in the story surrounding Vlahos’ bankruptcy. It is estimated that more than a thousand horse racing enthusiasts lost huge sums they had gambled, in total around 500 million dollars. Vlahos is currently at the center of a criminal investigation.
Some of his victims were police officers, while one claims to have lost at least half a million dollars.
Vlahos had created a club that bet on the outcome of races. He claimed that he studied each race thoroughly and that the bets he made were successful. Many people trusted him and tens of millions of dollars, all now lost.
Authorities have frozen his assets, a total of 29 million dollars and banned him from leaving the country.