Phoenix denies fraud allegations

Phoenix denies fraud allegations

Phoenix Thoroughbreds has issued a categorical denial and vowed to vigorously challenge any
suggestions of wrongdoing after allegations against their founder, Amer Abdulaziz.

TheDubai-based businessman, owner of Phoenix Fund Investments, has reportedly been named
in legal proceedings in the United States. Phoenix has released a statement following publication of allegations reportedly made in
a New York court, involving a cryptocurrency fraud to the value of $100 million – dating back
before the launch of the racing enterprise.

“Phoenix Fund Investments LLC categorically denies all allegations made against it, and its owner, Mr Amer Abdulaziz,
in legal proceedings against OneCoin and its conspirators in the US,” the statement said. “Phoenix Fund
Investments LLC believes that the firm and Mr Amer Abdulaziz have acted according to the law at all times, and will vigorously contest
all allegations of wrongdoing. Phoenix Fund Investments LLC is currently seeking legal advice and will take appropriate action against
those involved in the publication of false and defamatory statements.”