Jimmy, a half brother to Australia’s famous sprinter Black Caviar, was euthanized Dec. 29, 2013, after losing a battle with laminitis. The unraced colt was 2.

Born in 2011, the bay had two white hind socks.

Jimmy was Australia’s most expensive thoroughbred, being purchased for the record price of AU $5 million by the BC3 syndication at the 2013 Inglis Easter Yearling Sale.

BC3 failed to meet several payment deadlines to the auction house, even though investors paid the syndicate for their share, and Inglis Bloodstock repossessed Jimmy later in 2013.

BC3 was run by Bill Vlahos, who was accused of promoting an exclusive betting club that turned out to be a Ponzi scheme. Money from investors in the betting club went to pay for horses through BC3. In December 2013, Vlahos resigned from BC3 and declared bankruptcy.

In early November 2013, Jimmy received treatment at the University of Melbourne Equine Centre at Werribee for swelling in a leg due to a bite by a white-tailed spider, an injury that some questioned due to its rarity. He suffered a reaction to antibiotics used to treat the swelling, which resulted in diarrhea and then laminitis. He underwent treatment for the laminitis but deteriorated on Christmas Eve and was unable to get to his feet by Dec. 29, when he was put down.

The horse reportedly was insured for more than his purchase amount of $5 million.

Australia’s Herald Sun said Jimmy’s death was followed by wild speculation that Vlahos had orchestrated the death for the insurance.

Jimmy was by Redoute’s Choice out of Helsinge.

By some accounts, $15.47 million was owed to vets, trainers and investors at the time of the horse’s death.