[moondog]

Crooked financier involved in Owls takeover

http://www.yorkshirepost.co.uk/sport/Crook...Owls.4509337.jp

[Blueprint]

 moondog, on Sep 19 2008, 06:42 PM, said:

Crooked financier involved in Owls takeover

http://www.yorkshirepost.co.uk/sport/Crook...Owls.4509337.jp

Another possible nail in our chance of getting a new ground and investor. We want the takeover at hillsborough to go through as quickly as is possible, i fear this isn't going to help things go as smoothly as they can.



At the bottom of the report... a spokesman for Sheffield Wednesday, which is bound by takeover confidentiality rules, said: "We have no comment to make, at this stage.", it would appear we aren't the only ones who "is bound by takeover confidentiality rules"

[Wooden Spoon]

 Blueprint, on Sep 19 2008, 07:01 PM, said:

Another possible nail in our chance of getting a new ground and investor. We want the takeover at hillsborough to go through as quickly as is possible, i fear this isn't going to help things go as smoothly as they can.



At the bottom of the report... a spokesman for Sheffield Wednesday, which is bound by takeover confidentiality rules, said: "We have no comment to make, at this stage.", it would appear we aren't the only ones who "is bound by takeover confidentiality rules"

Dont worry, we have a `new`company, a holding company if you will, waiting in the wings, which wont own the club itself, but allow anyone with shares in another club to forward.

[Frank Thacker]

HERE is the Oxford United perspective on the credit crunch and the perils of having you ground owned by something other than your club.

[moondog]

http://www.yorkshirepost.co.uk/sheffield-w...ield.4531470.jp


String of debts for Sheffield Wednesday takeover backer

EXCLUSIVE: The man behind the proposed takeover of Sheffield Wednesday has been chased for a string of debts through the courts at the same time as negotiating a multi-million pound deal with the club and its major shareholders, it can be revealed today.

Last week the Yorkshire Post exposed the involvement of a convicted money launderer in Geoff Sheard's takeover approach and it has now emerged that the Lancashire-based businessman has a series of charges on his home for debts running into hundreds of thousands of pounds.

Earlier this year a High Street bank obtained a county court judgment against him for £107,000 but that was only the most recent of a long line of claims for debts against Mr Sheard.

Manchester County Court issued the judgment against Mr Sheard in March, two months after he first provided a letter of proof of funding to the club which was produced by convicted money launderer Richard Frank Downes. The action was brought by National Westminster Bank which provided the money for Mr Sheard's mortgage at his house in Caton, near Lancaster. The bank followed up the initial judgement by obtaining a charge on his house in June.

However, the debt trail goes back three years with a string of judgments at county courts across the country.

Car finance company Lombard Vehicle Management secured a charge on Mr Sheard's house at Birmingham County Court in December 2005.

The following February, debt collection agency CL Finance, based in Batley, secured a charge at Keighley County Court.

In August 2006, Volkswagen Financial Services obtained an order at Lancaster County Court and three months later law firm Chadwick Lawrence did the same at Huddersfield County Court.

In March last year HFC Bank secured a charging order at Lancaster County Court and in March this year TV installation company JB Aerial Services did likewise at the same court.

Mr Sheard – who wants to become Wednesday's new chairman – last night insisted the debts had no bearing on the takeover attempt because he is only fronting the proposed deal and not funding it. He again declined to say who the investors are.

Asked specifically about the NatWest debt, he said: "It's getting paid off – I think it will be off the record by this time next week."

He denied the debt was related to non-payment of a mortgage and declined to discuss what is happening with the property. Mr Sheard recently moved to a rented barn house nearby.

He added: "This is ridiculous – I'm not buying Sheffield Wednesday, I haven't got the money to do it.

"Of course (the debt) is important to me and that it's resolved but I'm not doing the purchasing of the football club."

On the overall string of debts, he said: "They are personal things – it's my personal business." He declined to comment further other than to insist he remained committed to the takeover plan.

Sheffield Wednesday declined to comment last night although it is understood that Mr Sheard's previous unrestricted access to the directors' box for matches at Hillsborough may now be under review. The protracted attempt to take control of Wednesday has become mired in controversy since it emerged that Mr Sheard's initial proof of funding was from an offshore bank in Dominica – the Private Capital Bank (PCB) – which is not operational. Although the letter stated 100m euros was available for investment, the bank has no money in it and no account holders.

It was then revealed that the letter – in the name of a Richard Francis – had actually been produced by Richard Frank Downes, sentenced to 33 months in a US prison in 2002 for conspiring to launder money through a different Dominican offshore bank.

The PCB has said Downes is not an official of the bank and does not represent the bank in any way. Mr Sheard has previously said he did not know about Downes' conviction and that he has no association with either him or the PCB.

He said the bank letter was only a means to get "a foot in the door" to begin negotiations with the club.

[fishini]

 moondog, on Sep 29 2008, 09:22 PM, said:

http://www.yorkshirepost.co.uk/sheffield-w...ield.4531470.jp


String of debts for Sheffield Wednesday takeover backer

EXCLUSIVE: The man behind the proposed takeover of Sheffield Wednesday has been chased for a string of debts through the courts at the same time as negotiating a multi-million pound deal with the club and its major shareholders, it can be revealed today.

Last week the Yorkshire Post exposed the involvement of a convicted money launderer in Geoff Sheard's takeover approach and it has now emerged that the Lancashire-based businessman has a series of charges on his home for debts running into hundreds of thousands of pounds.

Earlier this year a High Street bank obtained a county court judgment against him for £107,000 but that was only the most recent of a long line of claims for debts against Mr Sheard.

Manchester County Court issued the judgment against Mr Sheard in March, two months after he first provided a letter of proof of funding to the club which was produced by convicted money launderer Richard Frank Downes. The action was brought by National Westminster Bank which provided the money for Mr Sheard's mortgage at his house in Caton, near Lancaster. The bank followed up the initial judgement by obtaining a charge on his house in June.

However, the debt trail goes back three years with a string of judgments at county courts across the country.

Car finance company Lombard Vehicle Management secured a charge on Mr Sheard's house at Birmingham County Court in December 2005.

The following February, debt collection agency CL Finance, based in Batley, secured a charge at Keighley County Court.

In August 2006, Volkswagen Financial Services obtained an order at Lancaster County Court and three months later law firm Chadwick Lawrence did the same at Huddersfield County Court.

In March last year HFC Bank secured a charging order at Lancaster County Court and in March this year TV installation company JB Aerial Services did likewise at the same court.

Mr Sheard – who wants to become Wednesday's new chairman – last night insisted the debts had no bearing on the takeover attempt because he is only fronting the proposed deal and not funding it. He again declined to say who the investors are.

Asked specifically about the NatWest debt, he said: "It's getting paid off – I think it will be off the record by this time next week."

He denied the debt was related to non-payment of a mortgage and declined to discuss what is happening with the property. Mr Sheard recently moved to a rented barn house nearby.

He added: "This is ridiculous – I'm not buying Sheffield Wednesday, I haven't got the money to do it.

"Of course (the debt) is important to me and that it's resolved but I'm not doing the purchasing of the football club."

On the overall string of debts, he said: "They are personal things – it's my personal business." He declined to comment further other than to insist he remained committed to the takeover plan.

Sheffield Wednesday declined to comment last night although it is understood that Mr Sheard's previous unrestricted access to the directors' box for matches at Hillsborough may now be under review. The protracted attempt to take control of Wednesday has become mired in controversy since it emerged that Mr Sheard's initial proof of funding was from an offshore bank in Dominica – the Private Capital Bank (PCB) – which is not operational. Although the letter stated 100m euros was available for investment, the bank has no money in it and no account holders.

It was then revealed that the letter – in the name of a Richard Francis – had actually been produced by Richard Frank Downes, sentenced to 33 months in a US prison in 2002 for conspiring to launder money through a different Dominican offshore bank.

The PCB has said Downes is not an official of the bank and does not represent the bank in any way. Mr Sheard has previously said he did not know about Downes' conviction and that he has no association with either him or the PCB.

He said the bank letter was only a means to get "a foot in the door" to begin negotiations with the club.

Looking good for us then?

[moondog]

Fresh faces bring new twist to Owls takeover talks

http://www.thestar.co.uk/sportheadlines/Fr...wist.4544696.jp

Wednesday have since informed radio sheffield that there is no interest from India