Tuesday, November 19, 2002
Breeders' Cup Pick Six to pay interest
By Matt Hegarty
Daily Racing Form
Arlington Park plans to include the interest being generated by the money withheld from the Breeders' Cup pick six payoff in the ultimate payout to those who are deemed the winning ticketholders, according to Arlington's chief executive, Steve Sexton.
The money, however, will likely not be distributed until legal proceedings surrounding the investigation are completely resolved, according to officials at the Illinois Racing Board, which will determine when the money is distributed.
The withheld money - approximately $3.1 million in winnings claimed by a suspect at the center of the ongoing pick six investigation - is currently being held in an interest-bearing escrow account at Bank One, Sexton said Monday.
The only winning tickets on the Breeders' Cup pick six are held by Derrick Davis, the 29-year-old Maryland man who surrendered on Nov. 12 with two former fraternity brothers to the U.S. attorney's office under suspicion of fraud.
Consolation tickets were worth $4,606.20 each. If the tickets held by Davis are voided, those who had five of six winners would be entitled to at least $39,000 more.