Probe of NYRA Execs May be Launched

What a shock?

Now, according to state racing regulators, some top NYRA officials were not only aware the rates should have been lowered, but acted to cover up their actions and moved to comply with the law only after government auditors uncovered the multi-million dollar error.

In a potentially crippling blow, regulators now want a state investigative office with broad subpoena and other powers to launch a probe of NYRA executives.

Further, they are raising questions about the ability of some NYRA management to continue to hold their racing licenses.

Officials said NYRA president Charles Hayward, who led the public charge in denying any knowledge of the problem on behalf of the racing group, was aware early on that the takeout was illegally inflated.