Judge in Lexington determines damages in mare case
Monday, October 3, 2011
LEXINGTON, Ky. (AP) -- A federal judge in Lexington has awarded $65 million to six people who invested in a mare leasing program that the judge said was almost entirely bogus from the beginning.
U.S. District Judge Joseph M. Hood granted a motion for summary judgment in August in the case against defendants in the ClassicStar Thoroughbred case, including former farm operators David Plummer and his son, Spencer Plummer; ClassicStar parent GeoStar; and GeoStar executives Tony Ferguson, Thom Robinson and John Parrott.
Hood did not determine damages until Friday, the Lexington Herald-Leader reported (http://bit.ly/pU8bu7 ). ClassicStar is bankrupt, and it's not clear how much the plaintiffs may receive.
More than a dozen lawsuits are pending against ClassicStar.
The Plummers and Parrott have pleaded guilty to $200 million in tax fraud in federal court in Oregon but haven't been sentenced.
Information from: Lexington Herald-Leader, http://www.kentucky.com