Bank says Zayat hid his insurance from Thorn Song’s death

Fifth Third Bank plans to continue its push to take over the stable of top horse owner Ahmed Zayat. The bank said in a filing in Zayat’s bankruptcy that it plans this week to request a trustee in the U.S. Bankruptcy Court in New Jersey.

A hearing is scheduled March 8.

According to the bank, the move is necessary because Zayat’s 200-plus stable of racehorses, which are collateral for the $34 million he owes the bank, is at risk.

As evidence, the bank said that Zayat diverted $2.75 million in insurance paid on the death of miler Thorn Song.

Zayat has not publicly said that the horse is dead. Jockey Club registrar Rick Bailey said no death report has been filed.
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