Riding great Frankie Dettori may have retired from the saddle, but his battles off the track are far from over.
A UK court has ruled the 55-year-old’s “embarrassing” bankruptcy will continue, after he failed in his bid to have the order lifted.
Dettori’s bankruptcy was due to be automatically discharged next month, but the court blocked the move after lawyers argued he had not complied with repeated requests for information about his assets.
The court heard Dettori “has not complied and is still not complying” with those requests.
He could now face criminal proceedings if he fails to cooperate with authorities investigating his finances.
During the hearing, it was revealed Dettori had previously said he did not own property around the world, but it later emerged he held interests in properties across Europe.
The court also raised concerns about several high-value assets, including an expensive watch, a wine collection worth about $130,000 and close to $700,000 in investments.
Dettori reportedly owes almost $1.4 million in tax.
Granting a one-year extension to the bankruptcy, Judge Nicholas Briggs said there had been a “blatant failure” to provide the requested information.
“There is much to uncover in this bankruptcy, and it may well be that criminal sanctions will be a useful tool for the trustees,” the judge said.
Dettori had previously said he was “saddened and embarrassed” by the bankruptcy.
The legendary jockey – who rode 288 Group 1 winners during a decorated career – officially retired in February.
