Lester Piggott finds bail funds in time

Press, 24 December 1986, Page 1

Lester Piggott finds bail funds in time

NZPA-PA London The former top jockey, Lester Piggott, was at liberty yesterday after beating a deadline for handing almost £1 million ($2.78 million) to - a court by minutes. Had he failed to meet the deadline he would have been arrested on tax charges. But 25 minutes before time ran out a £950,000 bank draft was given to the clerk to justices at Bury St Edmonds, Suffolk, in exchange for the deeds to Piggott’s house and stables in Newmarket.

Piggott, how a trainer, was last Friday remanded on bail to March 19. The millionaire’s solicitor, Mr Jeremy Richardson, said, “A banker’s draft has now been handed in and there will

be no further news of any note until March 19.” Piggott was arrested by the Suffolk police last Friday morning at his home in Hamilton Road, Newmarket, and taken before a special sitting of Newmarket magistrates, accused of defrauding the Inland Revenue. The magistrates decided to grant him bail but asked for sureties of £1.2 million — the highest amount sought by a British court., Piggott’s advisers raced to raise the cash, but could not meet the deadline and instead he_signed over the deeds to his house and two stables. Mr Richardson was given until 5 p.m. on Monday to replace the deeds with the £950,000 or his client would be rearrested.