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Karakorum Racing, the partnership company whose horses have been a staple of the claiming ranks in New York for 15 years, ceased operation in late August, one of the company’s trainers said on Thursday.
Jeff Odintz, who was the partnership’s primary trainer over the past several years, said that all of the Karakorum horses were transferred to trainer Enrique Hernandez at Finger Lakes at the end of August.
“It was kind of quick,” Odintz said. “I don’t know exactly whether the horses were sold or what, but all of them went to Hernandez. He’s now the owner.”
Hernandez did not immediately return a phone call Thursday.
The phone number for Karakorum appeared to be out of service on Thursday. Efforts to reach the company’s founder and president, William DiScala Jr., at his home were unsuccessful.
Karakorum was launched in 1994, according to the company’s website. The company sold fractional ownership in racehorses, at a starting price of hundreds of dollars, and most of those horses competed in the claiming ranks at New York tracks.
The company aggressively marketed its partnerships in the New York area, and it often used its company name when naming horses it acquired at auction. Karakorum’s website listed 14 horses in its stable, along with two unraced “new offerings.”
Josh Bauman and Discala were failures since the day they were born. Low life crooks born from the same. Shame what they did to those innocent owners.
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Stumbled upon this article several weeks back and simply surprised that there has not been a follow-up story after so many months. This has all the appearances of a classic Ponzi scheme, with the typical disconnected phone numbers once the top suits split up the remaining cash and run away in the midnight hour. This operation was run by cowards.
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Dont think that the trainer is innocent in this matter he is part of the group It is called a ponzi and they did not have enough money to cover so they sold the horses in the middle of the night and turned off all the phones . Hope to see all in federal prison. They did the most stupidiest thing they used thier real names so adios scumbags
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Bauman had to know what DiScalia was doing
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BAUMANN CALLING ME TO PURCHASE SHARES IN HIS HORSES. WOULD LIKE TO SEE IF NYRA STEPS UP & HELPS US OWNERS WHO WERE TAKEN BY KARAKORUM TO RECOUP SOME OF THEIR MONEY BEFORE I GET INVOLVED AGAIN SO I CAN FIND OUT WHO IS REALLY BEHIND THIS SHAMEFUL ACT
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Josh Bauman and all those others are wastes of life and crooks.
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They were reported to the New York State Attorney General, the New York State Racing & Wagering Board, and the New York Racing Association Stewards, Carmine Donofrio and Stephen Lewandowski years ago. Maybe Joe Drape and the New York Times need to investigate why nothing was done about them?
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Who has teh horses that were in teh partnership? Is this person ready to fork over monies to the partner who had intrest in them? Since they were sold to a party without authorization from the partners and owners the new owner has to buy out the partners who had intrest in tehm, if sold then there will be a lawsuit. Check New York law before selling any of these horses. It appears taht this was not a take over just and move on teh part of officers of this group. Run if you want however IRS keeps records and there is a court document called discovery which allows parties to see all bank records.
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What a shame fans had this done to them and their money from a fake stable. I know a person who called and called and all they did was tell them money is being sent and them came yelling from them and hang ups. Scam. They were charging him and sure other people for horses he never agreed to take and never saw pictures or any earning money. Criminal. Plus he said they took $100 for "retired horse care" which he never saw any proof of. But he has proof of what THEY did. So play on people hearts for horse care to rob them. Again...criminal. Discala and Bauman and everyone else listed on THEIR site are horrible.
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They are all crooks DiScala, Bauman,etc. Stole money from a lot of people by never paying them. A friend of mine lost a couple hundred, never getting paid and them just giving BS excuses. I'm sure people lost thousands to the crooks there. Their should be a lawsuit against these people.
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Best Bets
NO NAY NEVER didn't break all that well in his debut but he moved up smoothly to make the lead after about 100 yards, and after he withstood a stretch challenge from the eventual runner-up he won while virtually in hand; trainer Wesley Ward is lethal with 2-year-olds and this colt figures very tough here with an effort as good as that first one. SWEET EMMA ROSE, an uncoupled stablemate of the top pick, meets males but she's clearly a threat off that debut romp; barn seems to hold all the aces.
