honored Calumet Farm with its Keeneland Mark of Distinction for their contribution to Keeneland and the Thoroughbred industry. Lucille Wright died in 1982 and according to the terms of her first husband's will, the farm went to the heirs of their only child, Warren Wright, Jr. (1920–1978). John Thomas Lundy (J.T.), who married Lucille "Cindy" Wright, took over as head of operations and president. Calumet Farm won the 1990 Eclipse Award for Outstanding Breeder. In November of that year, details surrounding the death of 15-year-old Alydar - America's leading sire of the time—and the collection of a $36 million insurance policy—brought a cloud of suspicion over the business. Under Lundy, mismanagement and fraud had left the farm with massive debt that led Calumet Farm to file for bankruptcy protection in 1991 as they were losing $1 million a month. After years of legal proceedings, in 2000, Lundy along with Gary Matthews, the farm's former attorney and chief financial officer, were convicted of fraud and bribery and sent to prison. In 1992, a trust established by Henryk de Kwiatkowski, a Polish-born Canadian, purchased Calumet Farm, saving it from possible liquidation. Since 1992, the farm has been fully restored to its former beauty. In 2012, the Calumet Investment Group bought Calumet Farm from the de Kwiatkowski Trust for more than $36 million. Calumet Investment Group in turn leased it to Brad M. Kelley, believed to be a member of the investment group. Kelley's horses race under the name of Calumet Farm, but they carry Kelley's black and gold racing colors, as the original "Devil's Red and Blue" silks of Calumet had been sold to a Brazilian investment group. The win of Oxbow in the 2013 Preakness Stakes marked the return of Calumet to the winner's circle of a Triple Crown race for the first time since 1968. References Further reading American racehorse owners and breeders Owners of Kentucky Derby winners Breeders of Kentucky Derby winners Owners of Preakness Stakes winners Breeders of Preakness Stakes winners Owners of Belmont Stakes winners Breeders of Belmont Stakes winners Owners of U.S. Thoroughbred Triple Crown winners Breeders of U.S. Thoroughbred Triple Crown winners Horse farms in Kentucky Eclipse Award winners Companies based in Lexington, Kentucky Buildings and structures in Lexington, Kentucky 1924 establishments in Kentucky