Conversations is bringing you a summer treat — a collection of Richard's most memorable guests through out the years. This time it's Peter Hoysted.

Peter Hoysted, known in print as 'Jack the Insider', tells the incredibly strange story of the Fine Cotton affair. The story includes a vicious gangster, a used-car salesman, a hapless horse trainer and a bucket of hair dye.

'The Fine Cotton Fiasco Conversations Bonus' is available to listen to here.

Richard's other Conversations with Peter Hoysted:The crime-soaked history of Melbourne's DockyardsRoger Rogerson: crimes and punishment

The story of Stan 'The Man' Smith

Peter Hoysted, known in print as 'Jack the Insider', tells the incredibly strange story of the Fine Cotton affair.

In 1984 a group of conspirators hatched a plot to defraud racing bookmakers of millions of dollars.

The story includes a vicious gangster, a used-car salesman, a hapless horse trainer and a bucket of hair dye.

It started out as fraud, became a fiasco and ended up as farce.

Ultimately it was a 'colourful Sydney businessman' who walked away with the cash.

This episode of Conversations contains discussions about true crime, Australian history, gangsters, organised crime, horse racing, gambling, Jack the Insider, Fine Cotton, horse trainers, fiasco, horses.