Discussion in 'Molineux Mix Archive' started by Wolvesthrunthru, Jan 19, 2015.
Former employee may have 'misappropriated Â£2.5m!'
You just couldn't make it up!
It makes a mockery of the so called strict ownership rules regarding English clubs.
How on earth did they pass the 'fit and proper persons' test before taking over?
Money helps to pass a 'fit and proper persons' test
Easy done I suppose
That club is doomed until the owners are rid of
Was it Lee Clark ?
To be fair, there's nothing to say for certain that the former employee involved was a director or anyone who would have been subject to the fit and proper test. The chances are that it was, but we mustn't prejudge the issue - it could just be someone lower down in the organisation taking advantage of a generally messed up system of payments.
It says misappropriation. Lee Clark masquerading as a football manager would be fraud
Â£2.5m!! It's gotta be top level for that amount, that or that club seriously need winding up
If this has been allowed to happen and it's 'someone lower down in the organisation' then that just proves that those at the top are not fit and proper and incapable of running such an organisation.
Given Blues have had cashflow problems for some time this is one area which they should have been controlling very closely.
11th in the Championship, not sunk anywhere near as low as we have in recent seasons, I would hardly say they're doomed.
My Blue nosed pal who goes into a rant at the mention of his name is convinced if it is the theft of a large amount of cash then it can only be one suspect ......... Zigic !
As I did say, the chances are that its someone near the top but it doesn't have to be. The misappropriation could have been going on for a number of years, and (say) Â£250k a year for 10 years could easily get lost. With the overall figures going round in football clubs these days, Â£250k (or even Â£2.5m) isn't that large a figure. Especially if the directors are transferring money in and out all the time to their various accounts.
I've only ever dealt with smaller clients, but we did once have one client who had transferred something like Â£25k from one business account to another and it wasn't till we did his accounts (probably 12 months later) that we told him that the money had gone out of one account but not into the other.
I hate Birmingham.
Update as parent company calls in the receivers
If it were the club it would be an automatic ten point deduction.
Given that they were a 93rd minute equaliser away from being relegated to League One last season, to say they've come nowhere near to our lows is very misleading.
His sentence would be mitigated by him not coming close to fooling anybody though
Carson Yeung fights back from his prison cell.
low crowds though
As much as I hate blues, you have to count your blessings that it's not us in their situation. Young is clutching at straws now by trying to appoint his partner as a director. How he can do this from behind bars is just scandalous.
Agree Blade, & some posters have a go at Morgan & Moxey calling them parasites & saying they are not really interested in the club or City just money.
There have been some bad Chairman take over a lot of clubs this last decade.
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