Owner Tanaka's international flat racing misfortune continues

Bad luck continued to stalk Gary Tanaka, one of the leading players in international flat racing, when his 2004 European champion Rakti suffered a shock defeat in the Prince of Wales's Stakes at Royal Ascot at York yesterday.

London-based businessman Tanaka, 61, was only 10 days ago released from a US jail where he had been held for a week after being accused of stealing funds from clients of his investment company to purchase at least three racehorses.

He was released from jail on June 3 but had to surrender his passport and pay a staggering $11 million (Dh40.45 million) personal bond as bail. As he was also subject to home detention and electronic monitoring he was unable to travel to York to watch Rakti run.

Unlike most big owners Tanaka has a habit of purchasing proven horses in training rather than buying an unproven yearling at a sales ring.

His colours have been carried to victory by a number of good horses including Hightori, Hong Kong Mile winner, Docksider, and 1994 Champion Stakes winner Dernier Empereur.

Rakti has won five Group One events in his career to date, including the Italian Derby in 2004.

To celebrate the arrival of Royal Ascot at York, York Tourism Bureau is running a charity auction. There are four lots to bid for and each lot will go to the highest bidder. Proceeds from each bid will go to two charities Caroline's Rainbow Foundation and Macmillan Cancer Relief.