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Utah-based principals, associates of ClassicStar to pay $65 million to plaintiffs in massive mare-lease fraud case


October 1, 2011     E-mail this page to a friend!

After years of investigations followed by months of federal trial, ClassicStar co-founders and Utah residents David and Spencer Plummer, ClassicStar’s parent company GeoStar and principals Tony Ferguson and Thom Robinson, and John Parrot have been ordered to pay plaintiffs $65 million for their conduct in a fraudulent mare-leasing scheme.

In his September 30 ruling, U.S. District Court Judge Joseph M. Hood described the scheme in his ruling: “Plaintiffs have set forth a compelling and well-supported account of how defendants misrepresented the reality of the mare lease programs offered through ClassicStar and how, acting together, they took the plaintiffs’ money to use for their own ends, then worked to prevent the discovery [of] the ruse and to perpetuate the cycle of investment. . . . The gig is up.”

In his ruling, the judge described how income generated through the ClassicStar mare-lease program was being funneled to parent company GeoStar to fund mineral and energy exploration.

Six plaintiffs are expected to receive the bulk of the award, although more than 200 individuals and businesses ultimately sued ClassicStar.

TRJ plans to publish a feature about the case in a coming issue. If you have had dealings with ClassicStar or with David or Spencer Plummer before or during their affiliation with ClassicStar, head writer Karen Johnson would like to hear your stories. Please send info about how and when you want to be contacted to: karenj@theracingjournal.com. You can also call and leave a message at (208) 343-0546.