Greater Manchester Police have confirmed that they have launched an investigation in to Bury FC following receipt of a report of fraud on June 18 2019.
We outline the circumstances leading to the sad expulsion of the football club from the Football League, thereby ending its one hundred and twenty five year membership.
The Circumstances | Kangs Financial Crime Defence Team
- The club had been in administration since May 2019.
- On June 18 2019 the police received a report of fraud.
- The current owner of the club, Steve Dale, reached a Company Voluntary Arrangement (‘CVA’) in July with the club’s creditors to repay twenty five per cent of the debt, allegedly totalling nine million pounds.
- The operation of the CVA was dependent upon the club being allowed to compete in matches this season, which the Football League refused to sanction given its concern about Mr Dale’s ability to finance the existing debts and the team’s costs.
- Mr Dale missed several deadlines set for him to prove he could meet his obligations or satisfactorily find a buyer for the club with the result that Bury FC was expelled from the League.
- Throughout July and August, Mr Dale has constantly criticised the Football League’s refusal stating he had shown proof of the existence of the required funds.
- Mr Dale also issued a lengthy statement in which he made reference to a ‘serious fraud investigation’ into the conduct of unnamed individuals.
- The CVA reached in July has also become subject to an investigation by the Insolvency Practitioners Association.
- At the present time, no arrests have been made, enquiries are ongoing and discussions about the club’s future are continuing.
How Can We Help? | Kangs Criminal Defence Solicitors
We have a team of solicitors experienced in defending allegations of serious fraud.
We have particular expertise in the following areas:
- HMRC Criminal and Civil Tax Investigations
- Individual and Corporate Tax Enquiries
- White Collar Fraud, Money Laundering and Complex Crime
- Regulatory Investigations and Prosecutions
- Asset Recovery
- Director Disqualification Proceedings
- Criminal & Civil matters under the Proceeds of Crime Act 2002
We understand the potentially devastating effect any investigation and prosecution can have on an individual and we are able to offer discreet, proactive and pragmatic representation.
We are regularly instructed in investigations brought by the Serious Fraud Office, the Financial Conduct Agency, the City of London Police and Scotland Yard’s Fraud Squad.
Please do not hesitate to contact our Team through any of the following: