Jockey Laffit Pincay filed a $11.7-million suit...

Jockey Laffit Pincay filed a $11.7-million suit against his financial advisers, contending that they assumed complete control of his substantial fortune and did not invest it wisely.

In a suit filed in Los Angeles federal court, Pincay alleges that Vincent S. Andrews of Connecticut and Robert L. Andrews of New York agreed in 1969 to do his bookkeeping and accounting and invest his money in exchange for 5% of his gross earnings.

The jockey seeks $10 million in punitive damages, $1.3 million for money lost in purportedly bogus investments and $405,642 in tax deficiencies he paid as a result of disallowed tax shelters.