New York state’s attorney general is accusing current and former directors of one of the nation’s top charities in rescuing retired racehorses of driving the group into financial insolvency and causing the harm, and death, of some Thoroughbreds under their care.

Attorney General Eric Schneiderman said the Saratoga-based Thoroughbred Retirement Foundation (TRF) for years took in far more horses than it could afford to support.

"Over the past year, the board has engaged in a series of financially irresponsible transactions, borrowing to pay off existing debt and invading TRF’s restricted endowment fund, that have damaged further TRF’s ability to fulfill its charitable purposes of protecting Thoroughbreds from neglect and mistreatment,” according to a lawsuit brought in state court against the current and former directors.

Named as defendants are John C. Moore, Robert Hinkle, Michael Lakow, Diana Pikulski, Haward R. Pressman, Leslie Priggen, John S. Rainey, Margaret Santulli, and the TRF