Money Laundering in our games (1 Viewer)

[Bennets Afro]

Is it rife?

Carson Yeoung of brum being charged with it.
Some Portsmouth fans believe their club was used for it when the turnover of owners in a short period of time was going on
Shinawatra off of man city was accused of laundering $2.6billion through the caymen isles
And speculation is out there about our club

What do people think???? without implicating yourselves of course

 

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[Jack Griffin]

I think there needs to be a thorough examination of the clubs accounting practices full stop!

 

[RPHunt]

Is it rife?

And speculation is out there about our club

Speculation about our club? I'm sure it was pure coincidence that their desperately rushed takeover (that had no time for due diligence) was completed the day before The Money Laundering Regulations 2007 came into force.

 

[WiganSkyBlue]

Speculation about our club? I'm sure it was pure coincidence that their desperately rushed takeover (that had no time for due diligence) was completed the day before The Money Laundering Regulations 2007 came into force.

Pure coincidence, imo.

 

[jesus-wept]

Is there any other reason why we are being kept as part of the joyful empire

 

[elephanttears]

Not sure anyone would want to launder money through a football club where there is so much scrutiny and eyes upon it. More likely that many corrupt wealthy owners have made money through illegal means and a football club it just their plaything.

 

[RPHunt]

Not sure anyone would want to launder money through a football club where there is so much scrutiny and eyes upon it. More likely that many corrupt wealthy owners have made money through illegal means and a football club it just their plaything.

A few reasons given by FATF here: http://www.fatf-gafi.org/media/fatf/documents/reports/ML through the Football Sector.pdf

FATF are an anti money laundering body established by one of the G7 summits.

 

[elephanttears]

A few reasons given by FATF here: http://www.fatf-gafi.org/media/fatf/documents/reports/ML through the Football Sector.pdf

FATF are an anti money laundering body established by one of the G7 summits.

Interesting, would be very surprised if its happening in this country though.

 

[RPHunt]

Interesting, would be very surprised if its happening in this country though.

And I would be astounded if it is not.

Not necessarily as dramatic as funds from drug running or arms sales. Recycling money obtained from tax evasion, defrauding investors, diverting government grants, etc. all count as money laundering.

Are our football authorities really sure that all of the investment coming into this country, through foreign ownership, is not from the proceeds of illegal activity somewhere in the world?

 

[elephanttears]

And I would be astounded if it is not.

Not necessarily as dramatic as funds from drug running or arms sales. Recycling money obtained from tax evasion, defrauding investors, diverting government grants, etc. all count as money laundering.

Are our football authorities really sure that all of the investment coming into this country, through foreign ownership, is not from the proceeds of illegal activity somewhere in the world?

Your probably right thinking about it, it would be very difficult to tell where foreign owners money has come from.

 

[cloughie]

And I would be astounded if it is not.

Not necessarily as dramatic as funds from drug running or arms sales. Recycling money obtained from tax evasion, defrauding investors, diverting government grants, etc. all count as money laundering.

Are our football authorities really sure that all of the investment coming into this country, through foreign ownership, is not from the proceeds of illegal activity somewhere in the world?

Yet some would be niaeve enough to think Joy just loves CCFC

 

[procdoc]

I think football clubs are perfect for money laundering. Some have said why a football club with so much publicity and scrutiny placed upon on but that is exactly why. They do it so close to your face that you are unable to see it. Fans let emotions and attachment blind their vision so we can't see it. The football league are probably in on it as long as its not drug money , gun money or illegal gambling earnings. The fit & proper persons test is all a ruse to misguided supporters that an upstanding business man or company are controlling the club when in fact the opposite is happening.
I love a conspiracy theory!

 

[duffer]

When I worked in banking, here were the red flags that were drummed into us to identify potential fronts for money laundering:

Multi-layered companies, with complex accounting structures, especially where some parts of the organisation were registered in locations beyond regulation (e.g. The Caymans).

No clear beneficial owner, that is no clarity on who is providing funding or benefitting from the returns.

I'm not suggesting that SISU are involved in laundering, but they clearly tick those two boxes. It's interesting that Bob's brought this up now, but I'm sure it's just a coincidence.