Financial strife engulfs high-flying millionaire

[Hunterville 0]

He came out of nowhere, blowing away the big players with his $2 million bid for a prized thoroughbred yearling at Karaka, and within months won a Group One race at Trentham, sponsored the $200,000 City of Auckland Cup, and even bought up some rising harness stars.

The once penniless Vietnamese refugee who started out hocking watercress for 99c a bunch, but made it on to the Rich List selling real estate, hogged the headlines everywhere with a seemingly endless frenzy of activity.

But today Don Ha is nowhere to be seen.

He doesn't go to the races any more.

His distinctive black colours sporting a large red D and white H are gone.

He's sold or given away all but one of his 42-strong stable

[fordman 1]

"I was taken advantage of," says Ha bluntly of his divorce from the sport of kings.

mmmm thats a intresting statement

[rosie one 177]

More like his ego got the better of him.

Number one r/estate agent,good on him. But he tried to hard to fast to climb the racing ladder......crashed and burned

[ADM 225]

A stud manager once told me that "us" strugglers are the lucky ones. When you have been in the industry a while you appreciate your success and accept the losses / also rans.

When you come in at the top and have instant success anything else but is demoralising and those people seem to exit the industry early like in this case.

Blaming others for his failure though Mr Ha is demonstrating classic spoilt brat syndrome

[fordman 1]

how has nathan tinkler kept afloat i wonder is it just vbecause he has a endless supply of dollars ?

[foxy 0]

Don't be too hard on the guy. He tried to make an investment in the industry and got taken for a ride. I heard from a very reliable source that he was done over by certain very influential industry people who convinced him he could make a killing by buying at the Magic Millions weanling sale and then on-selling at the NZB yearling sale. He purchased a number of weanlings at that sale and when the time came for inspection the most expensive of his weanlings was found to have legs so bad the vet said it would never get to the races.

I can't believe that keen novices can get so comprehensively screwed by people who should be protecting the guys interests to make sure he sticks around and continues investing in the industry. But no, he has been duped and instead is investing his money in the harness industry.

This is not the only time this has happened. I know of another extremely weathly Asian who put up his hand for an expensive yearling at the sales, thinking that certain major players were taking a share in the horse. When it came to pay up for the horse, all these people who had promised to take shares had jumped ship and he was left holding the can.

Talk about killing the goose that lays the golden egg.....

[Theysay 0]

go to one of his real estate auctions....talk about phantom bidders...pot/kettle....black!

[Properispomenon 1]

I have long had a motto that me and my money are to be kept many, many degrees of separation from b*ggers like horse salesmen, lawyers, property developers, politicians and financial advisors...

Doubtless there are honest, upright folk in each of those fields of enterprise but why should I take any chances, eh?

[Tbred62 2]

Don't be too hard on the guy. He tried to make an investment in the industry and got taken for a ride. I heard from a very reliable source that he was done over by certain very influential industry people who convinced him he could make a killing by buying at the Magic Millions weanling sale and then on-selling at the NZB yearling sale. He purchased a number of weanlings at that sale and when the time came for inspection the most expensive of his weanlings was found to have legs so bad the vet said it would never get to the races.

I can't believe that keen novices can get so comprehensively screwed by people who should be protecting the guys interests to make sure he sticks around and continues investing in the industry. But no, he has been duped and instead is investing his money in the harness industry.

This is not the only time this has happened. QUOTE]

The Magic Millions weanlings were a disaster and he was taken for an absolute ride by a certain few.

The first year he bought Ready to Run horses at Karaka he was done over by a certain Vendor and a Bloodstock Agent. The Agent knew a horse was going to be borderline when endoscoped and had it knocked down cheap to him for Don. It just passed the scope at Karaka but surprise surprise months later it was deemed a roarer.

The expensive broodmare ( which was in foal to Hussonet not Pins as stated above) was a great case too - one particular Auctioneer has acted for the Vendor of this mare for years and he was also advising Ha - he advised him to buy it at all cost. It wasn't even worth half of what he paid.

Still..more fool him for trusting these "advisers" I suppose - you should have seen them all sucking up to him the night after he bought the Sunline colt -it was like vultures around a carcass

Cheers

[foxy 0]

I find it quite disgusting that certain people in the industry have taken him for a ride like this - and take my word for it, they are very high up in the industry. You know who you are, and you should be ashamed.

Anyway, Ha has now joined the harness racing brigade, and hopefully they are looking after his interests better.

[Freda 0]

[quote="

The first year he bought Ready to Run horses at Karaka he was done over by a certain Vendor and a Bloodstock Agent. The Agent knew a horse was going to be borderline when endoscoped and had it knocked down cheap to him for Don. It just passed the scope at Karaka but surprise surprise months later it was deemed a roarer.

The expensive broodmare ( which was in foal to Hussonet not Pins as stated above) was a great case too - one particular Auctioneer has acted for the Vendor of this mare for years and he was also advising Ha - he advised him to buy it at all cost. It wasn't even worth half of what he paid.

Still..more fool him for trusting these "advisers" I suppose - you should have seen them all sucking up to him the night after he bought the Sunline colt -it was like vultures around a carcass

Cheers[/quote"]

Doesn't surprise me at all unfortunately.

As pointed out in an earlier post, how on earth could anyone be so stupid and short-sighted as to disillusion a new entrant to this industry, and with money to spend?

I've seen very questionable advice given - albeit with much less money involved - even down to the bargain basement stuff of selling horses off the track as hacks.

Some of these horses should NEVER be passed on to pony club girls, a disaster just waiting to happen.

[John Clydesdale 229]

I can imagine the added improvements and drama that goes into stories as they get passed on from one to another, but hang on, get a grip!

I am not wishing to defend anyone in particular, but there is recourse if anyone feels that an illegal act or similar has taken place against them in any transaction. Anyone can use that channel, all you need is patience and money.

A man by the name of Jess Jackson has created some clarity in the horse business about certain criteria that is acceptable in transactions involving sale and purchase. Whether that applies in NZ can be put to the test by someone like Mr Ha if he does genuinely feel there is substance to his concerns.

The horse business is a very tough business as we all know, any person entering it has to become well aware that to be the case within a very short time. If they believe it is easy, then the falls come soon enough, and the higher up the mountain you participate, then the further you have to fall.

Pretty simple really.

[Freda 0]

I can imagine the added improvements and drama that goes into stories as they get passed on from one to another, but hang on, get a grip!

I am not wishing to defend anyone in particular, but there is recourse if anyone feels that an illegal act or similar has taken place against them in any transaction. Anyone can use that channel, all you need is patience and money.

A man by the name of Jess Jackson has created some clarity in the horse business about certain criteria that is acceptable in transactions involving sale and purchase. Whether that applies in NZ can be put to the test by someone like Mr Ha if he does genuinely feel there is substance to his concerns.

The horse business is a very tough business as we all know, any person entering it has to become well aware that to be the case within a very short time. If they believe it is easy, then the falls come soon enough, and the higher up the mountain you participate, then the further you have to fall.

Pretty simple really.

Caveat Emptor, and all that...

fair comment, but if anyone has the best interests of the industry at heart, sharp practice would not be the way to go.

[fordman 1]

its got be asked if these advisors have duped people in past ?

[Tbred62 2]

I can imagine the added improvements and drama that goes into stories as they get passed on from one to another, but hang on, get a grip!

John, I can assure the points I mentioned earlier happened - so there isn't any added improvements!

While I have no contact with Mr Ha now I did during these times-certainly prior to the Sunline colt purchase.

For those asking whether the certain individuals mentioned have done this before - you betcha! and they have gotten away with it for years and years. It all depends whether you're in "The Club" at Karaka.

You can be sure that Don Ha wasn't in it!

Cheers

[Hunterville 0]

Quote from his website:

'As well as authoring the best selling Make A Million Selling Real Estate, his purchase of the top-priced Zabeel colt for $2 million at the New Zealand Bloodstock Yearling Sales at Karaka in 2007, was the networking coup of the year!

All the publicity generated into sales for Ray White Manukau, with the following month being their best ever. "It has been very good for business and a very successful way of networking for me," says Don.'

[John Clydesdale 229]

John, I can assure the points I mentioned earlier happened - so there isn't any added improvements!

While I have no contact with Mr Ha now I did during these times-certainly prior to the Sunline colt purchase.

For those asking whether the certain individuals mentioned have done this before - you betcha! and they have gotten away with it for years and years. It all depends whether you're in "The Club" at Karaka.

You can be sure that Don Ha wasn't in it!

Cheers

Dear Tbred62

I was providing a recourse option for D Ha, but if you are so sure of your facts why don't you name the names and what they supposedly did. Stand proud in the knowledge that the info you hold is deadly accurate and true.

For me sledging a whole host of people, who could fall into as wide a group as described earlier, is outright insulting to those good people who operate in that same area that have the appropriate integrity and business standards and honesty you ridicule. Name yourself and those you believe you know.

[Pam 1]

Still Hunterville, as a supposedly, successful business man, it would not be in his best interests to come out and advertise what a bulls up he has made investing in thoroughbred racehorses.

I totally believe that he was misinformed and taken for a ride and its happening all the time, but perhaps not in as big a way financially as in Don Ha's case.

Even Shortland Street is using the shoddy TB wheeling and dealings in their latest story line. Makes you wonder where that idea came from

Not a good advert for our industry.

[kmhood 1]

Still Hunterville, as a supposedly, successful business man, it would not be in his best interests to come out and advertise what a bulls up he has made investing in thoroughbred racehorses.

I totally believe that he was misinformed and taken for a ride and its happening all the time, but perhaps not in as big a way financially as in Don Ha's case.

Even Shortland Street is using the shoddy TB wheeling and dealings in their latest story line. Makes you wonder where that idea came from ]

Don should put his money where is mouth is and go after those who ripped him off. Altho it was "good for business" publicity wise - think how much better an expose' would be - sales would go through the roof maybe!

Perhaps a friend of Don's is a scriptwriter for Shortland Street? :tcheek:

[trakdap 390]

Still Hunterville, as a supposedly, successful business man, it would not be in his best interests to come out and advertise what a bulls up he has made investing in thoroughbred racehorses.

I totally believe that he was misinformed and taken for a ride and its happening all the time, but perhaps not in as big a way financially as in Don Ha's case.

Even Shortland Street is using the shoddy TB wheeling and dealings in their latest story line. Makes you wonder where that idea came from ]

It matters not, what industry you belong to, there are always "entrepreneur's" involved, On all sides! Its just a flip of the coin as to where you land.

Over the years there have been many who have tried "to play merry hell with a big stick" and have come unstuck. There is always someone else to take their place.

[nod 1]

Don should put his money where is mouth is and go after those who ripped him off. Altho it was "good for business" publicity wise - think how much better an expose' would be - sales would go through the roof maybe!

Perhaps a friend of Don's is a scriptwriter for Shortland Street? :tcheek:

Shortland St is a fantasy.

The posted report refers to a high court judgement against a person with 42 racehorses.

Most people buying 42 houses [or horses]would have struck a bit of financial reverse in the recent downturn.

[Tbred62 2]

Dear Tbred62

I was providing a recourse option for D Ha, but if you are so sure of your facts why don't you name the names and what they supposedly did. Stand proud in the knowledge that the info you hold is deadly accurate and true.

For me sledging a whole host of people, who could fall into as wide a group as described earlier, is outright insulting to those good people who operate in that same area that have the appropriate integrity and business standards and honesty you ridicule. Name yourself and those you believe you know.

I know you and you know of me as I worked at Karaka for a good few years. But I wasn't a club member either and I eventually left to pursue other equine interests. I found out how badthe place is frm the inside and got to know the goings on to suit a chosen few.Yes there are some good people at Karaka but there are others who use it in a way detrimental to others like Don Ha- and they have gotten away with it for years.

If you had sat in on meetings that I sat in on over the years you wouldn't think so highly of some of them I can assure you.

If you want names and my name email me through RC and I'll gladly fill you in.

2. All those names HAVE previously been given to Don Halong before this dissertation and yes I know you were giving a recourse option to him and that will be forwarded onto him I can assure you.

Cheers

[ASISEEIT 0]

WOW....am I glad I can only afford cheapies.

Imagine how devastating emotionally and financially it would be to pay HUGE dollars on an animal only to later sell it for 1500.00

Just goes to show among other things that it's a buyers market and something is only worth what someone is prepared to pay for it despite breeding and performance.