A valuable foal stolen from a racing stable in outer Melbourne has been found dead by its owners.
The six-week old foal called Holly was discovered missing from the stable in Carrum Downs on Monday.
Holly was in a paddock with a brood mare and receiving veterinary treatment which required her to wear splint boots.
Investigators found the splint boots in the paddock and believe the foal was carried to a waiting vehicle.
But on Wednesday the owners found the foal dead on their property.
Police say investigations are ongoing and the circumstances are still being investigated.
Anyone with information is urged is urged to call Crime Stoppers on 1800 333 000.