The FSA has published a press release stating that investors in 147 Racing Limited (147) and Top Bet Placement Services, an unauthorised betting syndicate, will share £58,745.27 after York Crown Court issued an order for monies to be recovered from Gary Woodward, a former director of 147.

In May 2008, Mr Woodward was given a three year prison sentence for lying about the value of his assets to the FSA and for breaching a restraining order following successful action taken by the North Yorkshire Police. The money will be distributed by the FSA which gave back nearly £100,000 obtained through its own civil proceedings, in March this year.

View FSA press release - Investors to get money back from celebrity-endorsed betting syndicate, 8 August 2008