The Garda National Economic Crime Bureau is investigating suspected financial irregularities in the Supreme Horse Racing Club before its collapse two years ago.

The investigation is focusing on the club’s sale of shares in racehorses prior to Horse Racing Ireland (HRI) freezing its account and banning its horses from entering races in late 2019, following complaints from investors.

Founded in 2011 by Steve Massey and Jim Balfry, Supreme was among the most high-profile horseracing clubs in Ireland and Britain, and owned 29 horses including Kemboy, a multiple Grade 1 winner trained by Willie Mullins, who had no involvement in the operation of the club.

Supreme’s members paid a fee for a share in a racehorse and a monthly subscription to cover vet and training

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