Three people today appeared before a jury to face fraud charges involving a racehorse syndicate based in Newmarket, Suffolk.
Ronald Dawson, 61, his wife Maureen Dawson, 40, and former accountant Andrew Irish, 47, appeared on trial at Basildon Crown Court in Essex.
The jurors were told that the three faced fraud charges in connection with two Newmarket based racehorse syndicates - Classic Bloodstock and Classic Bloodstock II.
Ronald Dawson, a former director of the two companies, is accused of authorising a #100,000 loan to himself.
He is also accused of two charges of false accounting.
All three defendants are accused of conspiring to defraud members of Classic Bloodstock.
The defendants today denied all charges.
The trial, which is expected to last for 10 weeks, formally began today but jurors will not begin hearing evidence until Monday (October 16th).
Ronald and Maureen Dawson used to live in Newmarket but now live in Alicante, Spain.
Irish livesin the village of Saxon Street, near Newmarket.
Classic Bloodstock II went into liquidation in 1997 with losses of #2.53m, leaving its 5,750 shareholders without compensation.
Ron Dawson and his son Tim were both `warned off` for 10 years by the Jockey Club in February 1998, after the pair had been found in breach of a number of the rules of racing.
