Owner of American Pharoah named in gambling lawsuit

Ahmed Zayat, owner of Triple Crown hopeful American Pharoah, has asked a federal judge to dismiss a lawsuit that accuses him of owing $1.65 million to a man who says he fronted Zayat money for gambling bets placed at offshore casinos.
The federal breach of contract lawsuit was filed in March 2014 by Howard Rubinsky, 58, of Florida. It said that in 2003, Rubinsky and Zayat entered into a personal services contract. Rubinsky said he aanced Zayat credit at a couple of casinos and that the agreement was that heand’d be paid back. He said by the end of 2005, Zayat owed him $2 million. Some has since been repaid, but Rubinsky says Zayat still owes him $1.65 million, something Zayat vehemently denied early on Thursday. and”Itand’s a fraud. Itand’s a scam from A to Z,and” Zayat told The Associated Press by phone. and”Itand’s total fiction. Itand’s a total lie.and” He said it is a case of blackmail by a criminal. Rubinsky has been convicted of gambling offenses and money laundering, according to the motion to dismiss. The motion said the breach of contract complaint should be thrown out because it was filed beyond the six-year statute of limitations and because the plaintiff canand’t produce an actual contract between him and Zayat.
An after-hours call and email to Rubinskyand’s attorney J. Joseph Bainton were not immediately returned.
American Pharoah has won the Kentucky Derby and Preakness and will try for the first Triple Crown in 37 years at the Belmont Stakes next month. Zayat, 52, who is from Egypt, came to the U.S. when he was 16 and lives in New Jersey. He ran a beer distributorship in Egypt, and in 2005, he founded Zayat Stables, which breeds thoroughbred horses in the US.

SOURCE: Today’s Zaman