Court Finds for Jockeys in Fraud Case : Horse racing: Pincay and McCarron win suit against brothers who invested their money.

A Los Angeles federal court jury found the former business managers of jockeys Laffit Pincay and Chris McCarron guilty Thursday on all seven counts of fraud and related charges.

Pincay and McCarron, both of whom are in the Racing Hall of Fame, sued Vincent Andrews and his brother, Robert, alleging that they had improperly invested money the jockeys had earned riding horses.

Attorneys for the Andrews brothers argued that Pincay and McCarron had approved the investments.

One of the guilty verdicts came under a racketeering statute and could result in triple damages. The penalty phase is a separate part of the trial.

Court testimony showed that the Andrews brothers invested $1.69 million of Pincay’s earnings over a 19-year period and $759,000 of McCarron’s over nine years. The jockeys also paid the business agents a management fee of 5% of their gross earnings during those periods.

In a telephone interview, Vincent Andrews said he and his brother would appeal the verdict.

“We feel the verdict wasn’t supported by the evidence,” Vincent Andrews said. “We weren’t able to present our full case.

“It was not found that the plaintiffs are entitled to damages, and we expect literally nominal damages to result from this.”