Jose Santos first raced horses at the Club Hípico de Concepción in his native Chile, following in the footsteps of his father and three of his seven brothers, and in Colombia before moving to the United States in 1984.
The photograph, with accompanying comments, was posted highlighting what appeared to be a metallic object in Santos's right hand as he and Funny Cide crossed the finish line.
Due to the angle from which the photograph was taken, it appeared that Santos was holding an object in his right hand, and so raised suspicion that he had cheated to win the world-famous race.
The Chilean-born jockey, whose only English is heavily accented, tried later to explain that he had called the object around his wrist a "Q ray," which is a magnetic bracelet worn by athletes to ease joint pain.
Santos's Palm Beach attorney, litigator Bruce S. Rogow, told reporters his client was "pleased" with the confidential terms.
José Santos was also one of the first of five top jockeys (the others were Jerry Bailey, John Velazquez, Gary Stevens, and Shane Sellers) to wear advertising patches in the Kentucky Derby, starting in 2004.
The jockeys in question had been offered substantial endorsement contracts to wear the ad patches, with payments, in some cases, of $30,000 apiece.
Advised by his doctors that it would be far too dangerous for him to return to riding and that he would likely end up paralyzed should he have another accident, Santos, along with his current wife, Rita, and the support of his children, decided to retire.
They don't have to worry anymore, and that is a relief.One week later, when Santos was formally inducted into the Hall of Fame, he received an unprecedented three standing ovations from the crowd.
Family and friends accompanied Santos to the induction ceremonies at Saratoga, including his second wife, Rita, from whom he is currently separated, and his two eldest children, José Ricardo and Sophia, from his first marriage to Maria.