THE prosecution has dropped all charges against a millionaire gambler accused of killing a boy and seriously injuring two other people in a major crash on the York Outer Ring Road.

Five traffic collision experts say Patrick James Veitch, 49, couldn't have stopped his Porsche Panamera in time to prevent the tragedy, York Crown Court heard.

The professional punter, who first made his mark with a horse tipping service when studying at Cambridge University, now wants the state to pay for his defence costs.

An 11-year-old boy died and two other people were injured in the crash at 1.30pm on August 15, 2016.

Mark McKone, prosecuting, said two prosecution and three defence experts agreed that no "reasonable" driver of the Porsche would have seen the stationary vehicles ahead of him in time to stop.

"The collision to use the words of the experts, was inevitable," he said.

Judge Andrew Stubbs QC said: "Inevitable and unavoidable."

He formally acquitted Mr Veitch, of Fulford, on one charge of causing death by dangerous driving and two charges of causing serious injury by dangerous driving. The millionaire had denied all three charges.

Mr Veitch, who was represented by Jonathan Laidlaw QC and a junior barrister, immediately applied for the state to pay his costs. The application was adjourned and may return to York Crown Court later this year.

In a statement after the hearing, Mr Veitch said: “My first thoughts are with the family (of the deceased) who have suffered the un-imaginable loss of their son.

"Their sense of loss and their suffering will not pass and I will never forget that or the terrible images of the scene that confronted me.

"What is deeply disappointing is that the CPS received evidence in May 2017 demonstrating that I was not the cause of the accident but they chose not to engage with this until only a few weeks ago, greatly prolonging matters for all parties.

"I should not have been placed in this position and I should not have suffered the inevitable prejudice and pre-judgment that a criminal charge brings.”

The Press has asked the CPS to comment.