Racing legend Damien Oliver sues former manager Neil Pinner over millions of dollars of missing money

Retired racing legend Damien Oliver has dropped a bombshell $4 million lawsuit on his former manager Neil Pinner — claiming he has been ripped off millions of dollars over multiple years by his former close friend.

In the detailed writ filed in WA’s Supreme Court, Mr Oliver’s lawyers lay out a catalogue of allegations against Mr Pinner, who was power of attorney over the Melbourne Cup winner’s financial affairs for more than 30 years.

That relationship came to an abrupt end last December, noted in racing circles when Mr Pinner failed to attend Oliver’s emotional farewell to racing in Perth.

Now, The Nightly can reveal that in the same month, Mr Oliver was informed by the Australian Tax Office he owed more than $740,000 in tax.

That was allegedly because Mr Pinner had not lodged returns on Mr Oliver’s behalf.

Seven months on, the detailed writ lays bare what Mr Oliver’s legal team says is the extent of Mr Pinner’s alleged breach of fiduciary duty, and breach of contract, over years.

The allegations include that from 2017 to 2023, more than $835,000 was taken from Mr Oliver’s accounts by Mr Pinner “under the false pretence they were loans from the plaintiff to the NJ Pinner Family Trust”.

It claims that more than $1 million in riding earnings from races in Japan and Hong Kong were placed into a bank account controlled by Mr Pinner and his company — but were never then paid to Oliver.

It alleges another $426,000 was removed from Oliver’s accounts through “a total of 50 unauthorised payments … made to the first defendant”.

And it also alleges that in October 2015, Mr Pinner took out mortgages on Oliver’s behalf on two Victorian properties in Port Melbourne and Jan Juc.

The loan was said to be worth $1.35 million.

But the writ alleges that also included in that transaction was another $1 million redraw facility — which Mr Oliver never knew about.

“At the time (Mr Oliver) first became aware of the redraw facility in December 2023, (Mr Pinner) had fully drawn down the redraw facility — the account balance at the time being $1,007,983.49,” the writ states.

In another allegation, Mr Oliver’s legal team says that another secret loan was taken out against two properties owned by Mr Oliver in Victoria, totalling more than $380,000.

And amazingly, the writ also claims that Mr Pinner “has failed ... to account ...for the proceeds of sale” of four other properties in Victoria and Perth, including The National Hotel in Fremantle.

Other alleged unauthorised payments from Mr Oliver’s bank accounts for Mr Pinner’s benefit, include $30,000 to the Magic Millions in 2020, and tens of thousands of dollars to other racing entities.

The writ also claims that over three years from 2020, more than $53,000 of Oliver’s money was used to pay Mr Pinner’s Visa credit card account. Other monies were allegedly used to pay other credit cards, phone bills and car registration fees.

Three cheques, totalling more than $40,000, were also allegedly written purportedly paying for shares which were actually never bought.

In a statement, Mr Pinner said there were “two sides to every story” but he had been instructed by his legal counsel to provide no further comment.

The legal action also names Mr Pinner’s wife Leanne, who was Mr Pinner’s bookkeeper for 10 years and was also a director of Ferncastle Holdings, which was the trustee of the Pinner’s family trust.

The legal action alleges Mr Pinner used his position “to improperly gain an advantage for himself” and “for obtaining secret profits” — and should be liable for loss and damage caused, and pay back those monies.

Mr Oliver, through his lawyers, claims “equitable compensation”, damages, interests and costs.

The writ represents a stunning shift in the relationship between the pair, which lasted for decades including during the tragic death of Mr Oliver’s brother Jason in a race fall in 2002.

It was Mr Pinner who met the devastated Damien on his arrival in Perth, following the fall which eventually claimed his brother’s life.

It was Mr Pinner who broke the news to the world that Jason had died, reading a statement outside Royal Perth Hospital. He also made a speech at Jason’s packed funeral.

A renowned business figure in his day, Mr Pinner spent almost two decades at Commonwealth Bank, before co-founding Mortgage Force Australia.

Through his business success and racing interest, Mr Pinner has rubbed shoulders with some of WA’s most influential.

And he became influential himself when was appointed a board member, then chairman of Perth Racing in 2016.

Legal representatives for Mr Oliver have been contacted for comment.