01/16/2014 6:23PM

Fabian retiring as head of Thoroughbred Racing Protective Bureau

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Frank Fabian, the president of the Thoroughbred Racing Protective Bureau, a private investigative agency owned by racetracks, will retire in March, the TRPB announced late on Thursday.

Fabian, who was hired in 2005, presided over the TRPB during an era in which the agency’s focus turned toward the monitoring of the industry’s parimutuel system, in addition to its intelligence work at racetracks. Fabian, a former regional chief of counterterrorism for the FBI, came aboard the TRPB 2 1/2 years after the Breeders’ Cup pick six scandal, in which a bet-processing insider used a relatively unsophisticated scheme to rig a pick six bet, and during an era in which computerized robotic wagering systems began to significantly influence betting odds.

During Fabian’s tenure, the TRPB launched the Wagering Analysis Unit, which scours daily parimutuel betting reports for suspicious bets and conducts investigations into past-posting incidents. The TRPB also implemented a new system to conduct background checks of off-shore rebate shops that have access to the pari-mutuel system.

The TRPB was formed in 1946 to provide investigative services for member tracks on racing backstretches, though it has no authority to levy penalties. It is owned by the Thoroughbred Racing Associations, a racetrack trade group.

In a release, the TRPB said that it would immediately launch a search to replace Fabian.

“I appreciate having had the opportunity to preside over a company whose dedicated employees work diligently toward furthering important initiatives which enhance the integrity of the sport,” Fabian said, in the release. “As I leave to pursue other interests, I do so with great confidence in TRPB as it moves forward.”