LEXINGTON, Ky. - California's Department of Corporations has ordered a Tennessee-based Thoroughbred partnership group to stop selling unregistered securities in an alleged fraud scheme involving racing and breeding partnerships.
TC Enterprises LLC, which also did business as Triple Crown Enterprises LLC, offered both racing and broodmare partnerships to potential investors. Investors were allegedly promised returns of 25 percent to 75 percent or more on their investment through future sales of the mares and their foals.