Autopsy for Black Caviar half-brother Jimmy as inquiry into former owner Bill Vlahos continue Dead: Jimmy at the 2013 yearling sales. An autopsy has been conducted on the body of Black Caviar's half-brother Jimmy to determine the cause of the illness that led to the $5 million thoroughbred being put down. Meanwhile, investigations into the colt's former owner Bill Vlahos are continuing. Mr Vlahos' trustee in bankruptcy is preparing to trace the proceeds of the racing identity's failed punting club The Edge as Racing Victoria investigators and company administrators trawl through the books and records maintained by Mr Vlahos' BC3 Thoroughbreds. Racing Victoria's investigation into BC3 is likely to prompt a shake-up of rules governing how investors buy shares in racehorses. Jimmy was put down at Werribee veterinary hospital in Melbourne on Sunday after being struck down by a rare and debilitating hoof disease called laminitis. Autopsy results will not be available until pathology tests have been done. This could take weeks because of the holiday break. "All horses here that are insured have autopsies carried out," Melbourne University Equine Hospital associate professor Chris Whitton said. BC3 chief executive Craig Cameron said a $5 million policy had been paid for 18 months in advance and covered Jimmy from April, when he was bought from bloodstock agents Inglis. Fairfax Media has learned the Gai Living The Dream racing club promoted by Gai Waterhouse has already been the subject of separate discussions between Racing Victoria and the Australian Securities and Investments Commission. In a sign that the collapse of Mr Vlahos' operation may have shaken confidence, Gai Living The Dream has slashed the number of shares it is offering in its scheme from a maximum of 10,000 to 1000. The change was made on December 12, days after it was reported that Mr Vlahos had allegedly been bashed at BC3's Surf Coast training facility. Gai Living The Dream has cut the amount it is planning to spend on horses by half, to $1.4 million. Training fees to be paid to Ms Waterhouse have been reduced from $600,000 to $400,000. Mr Vlahos' trustee in bankruptcy, Clyde White of PCI Partners, said it would take some time to work out the true size of The Edge. He said he had frozen Mr Vlahos' bank accounts and would next try to trace what had happened to punting club's funds. "He's claiming he's got nothing," Mr White said. On paper, investors in The Edge thought they had accumulated $500 million, because they had been promised returns of as much as 46 per cent a quarter. "We've been contacted by syndicate leaders and I think ... those people will probably lodge claims," he said.