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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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pedg

pedg

Posted
Posted

Question on this that I don't think has been asked is what caused them to try and move their assets overseas so quickly such that it caused the Lithuanian government to step in?

 

Sounds like without that happening things would have carried on as normal? One scenario is that they decided that the authorities were on to them and tried to get out as much money as they could?

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EastleighSoulBoy

EastleighSoulBoy

Posted
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Okay you've drawn me in again - just don't call me nasty names if you disagree, it was about raising their profile & buying some respectability. ** But they had very little money to spend and a seriously dodgy history, limiting their list of potential acquisitions to clubs that were both potless and owned by someone who didn't give a sh1t what became of them. That limited the number of clubs available to, er, I'd say, about one. And thus far their modest outlay has probably paid off.

 

The skates' recent history suggests that CSI's attempt to gain repectability by buying poopey was a rather poor investment. **

 

Like I've always said Steve, I think they just wanted a club to go with their portfolio and we were available at the kind of price they wanted to pay (ie not too much). But the whole thing about they only wanted us for money laundering makes no sense, especially as other keep pointing out, they also tried for Bournemouth and were linked with Rangers. But on your point about net liabilities, there are plenty of clubs with more liabilities than that. The debt we have is the CVA so the figure is known and whether you believe Lampitt or not at least a large chunk of it will be paid by the parachute money. Let's face, buying a football club is never (or rarely) about turning a profit. I think it was more of a branding/ marketing exercise and as a club who's recently been in the PL and two cup finals we have a fairly high profile. **

 

The FL have to approve any deal and any monies paid for transfers etc have to go through them. How would that benefit someone who wanted to run something criminal? As for the money from Snoras, whatever Antonov's lost, he wasn't ploughing money into PFC anyway so I don't see how it would impact us greatly. I suppose the Lithuanian government might try and seize us as one of his assets but the best they could hope for would be to sell us on, even if legally they could seize a UK company. I don't see what good liquidating us would do.

 

The CSI website (the company that owns PFC) still is working fine.

http://www.converssport.com/

 

From that site:

 

In the light of the recent events at Snoras Bank, Convers Sports Initiatives (CSI) would

 

like to reassure its companies, staff, and the fans of its teams and events, that it

 

remains very much business as usual. We are operationally unaffected by the Snoras

 

Bank entering temporary administration. CSI has been solely financed through the

 

private wealth of its owners. Snoras Bank has never provided funding for the purchase

 

of a CSI organisation, nor has it lent any money to these businesses after they have

 

been acquired. We continue to look at expanding the CSI business and hope to

 

announce a number of further acquisitions in the near future as well as continuing to

 

support our existing businesses.

 

From figures I saw quoted last night, there's not much remaining of the 150 million he had invested in the bank.

 

Having said that, many oversea 'investments' didn't actually exist when investigated while other large sums were 'moved abroad' in the days preceding the crash. I wonder where all that cash is sat at this moment in time?

 

 

LOL.

 

Ho you utter fool. CSI are owned by Convers Group. Therefore they 'own' Pompey

 

I say 'own' because they've never actually paid a penny for them

 

I just wonder, if the club gets seized as an assett of Antonov, what happens to chinny's £7M?

 

Maybe Antonov might have got away with it, leaving it all to fester and rot while chinny picks over the carcass again?

 

And I was beginning to think this thread might expire!

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angelman

angelman

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She said: ‘If the shareholders of Bank Snoras don’t respond to these requests, an international search warrant will be issued.’

 

 

International search warrant? Fit and proper!

 

Out of interest, have the owners actually been to Fratton Park yet and does he go to any of their games? I know that he trotted out some bull about being really busy, but you would have thought that if you had bought a football club that you would turn up on a regular basis.

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holepuncture

holepuncture

Posted
Posted
Proving fraud is one thing - proving Antonov had any knowledge of it is a whole different kettle of fishy things.

 

Given vlads previous of a career in money laundering and organised crime, I doubt the authorities need to look too far to find some solid evidence.

 

Had to pinch myself this morning, what a glorious time, another round on pompeys rollercoaster of turmoil, ruin and reality... Moneyfields is only round the corner now!

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Gorgiesaint

Gorgiesaint

Posted
Posted

Interesting line in the Guardian this morning

 

http://www.guardian.co.uk/football/2011/nov/18/portsmouth-reassure-fans-administration-concerns

 

"We continue to look at expanding the CSI business and hope to announce a number of further acquisitions in the near future as well as continuing to support our existing businesses."

 

So already they appear more interested in something else rather than investing in Pompey, assuming Antonov gets past the allegations at Bankas Snoras.

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angelman

angelman

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Posted
‘We have no doubt that these activities reflect a campaign implemented against a private financial institution which are caused by several obvious reasons, among which is the deterioration of the financial situation of the Republic of Lithuania at a time when a new wave of the financial crisis is spreading across the Euro zone.

 

‘The intention is to solve state problems at the expense of private business, participants, investors, clients and partners of the bank.’

 

Priceless. So absolutely nothing to do with the apparent disappearance of nigh on ½ billion US dollars then. I think most countries need a wee bit more than $500m to get out of trouble, but that amount is just fine on an individual level. However the sums involved are significant. Lithuania has a GDP of $36.3 billion, so $0.5bn disappearing represents a serious percentage.

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rallyboy

rallyboy

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Posted

oh, I see now! - the Lithuanian government has actually stolen money from poor little plucky Snoras.....and covered their tracks by framing a mafia-linked, alleged money-laundering fraudster who was declared unfit by the FBI and the Financial Services Authority?...:?.

 

That seems plausible.

 

 

 

Far more likely than a crook with a history of financial irregularities getting involved in....er.... financial irregularities.

 

With things starting to unravel off the pitch we just need the new bloke to oversee a red-card riddled defeat then grab a microphone to declare that his side dominated and were the better side, before heading off to the nearest industrial estate for some 'me time' up against the side of a skip.

 

I miss the good old days of Cotterill, Adams, Hart, Avram etc, hopefully the new bloke can be as entertaining.

 

 

 

Shouldn't be long before AA starts signing autographs again.

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Crab Lungs

Crab Lungs

Posted
Posted
Anyone heard Appleton's post-match yet. Is he going to admit defeat graciously or follow the well trodden path of claiming the skates battered (pun intended) Watford 0-2?

 

Pretty measured and honest. Clearly can see his team are picking up wages they don't deserve. He'll probably be hounded out by March.

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Crazy Diamond

Crazy Diamond

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Pretty measured and honest. Clearly can see his team are picking up wages they don't deserve. He'll probably be hounded out by March.

 

Measured yes, but the fact is he was brought in to work with what they've got and develop their young players to use them in the first team squad, and he's basically said he needs to strengthen... So that original idea has gone out the window already!

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SuperMikey

SuperMikey

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Posted

I have to admit that I was impressed at how well-spoken Appleton was in his interview with Solent after he was hired, I thought he'd be a thug but hopefully we won't be blugeoned with excuses when listening to Solent after games like we were when the Wurzel was in charge down the road. 1.7k is a decent following for a Championship team though, guess they were looking to welcome in their new manager.

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dronskisaint

dronskisaint

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I have to admit that I was impressed at how well-spoken Appleton was in his interview with Solent after he was hired, I thought he'd be a thug but hopefully we won't be blugeoned with excuses when listening to Solent after games like we were when the Wurzel was in charge down the road. 1.7k is a decent following for a Championship team though, guess they were looking to welcome in their new manager.

 

 

 

Chuckles out loud..........:lol:

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Saint 76er

Saint 76er

Posted
Posted
oh, I see now! - the Lithuanian government has actually stolen money from poor little plucky Snoras.....and covered their tracks by framing a mafia-linked, alleged money-laundering fraudster who was declared unfit by the FBI and the Financial Services Authority?...:?.

 

Ah, yes ... but deemed perfectly fit and proper by the FA's FPPT.

 

Apparently the FBI and FSA must have got it wrong then, presumably, well I suppose they did, sort of like ... :rolleyes:

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bridge too far

bridge too far

Posted
Posted

I wonder if the FAPPT can be rescinded. Have a look at this article but here's a relevant bit, I think

 

He is convicted on indictment of an offence set out in the Appendix 12 Schedule of Offences or he is convicted of a like offence by a competent court having jurisdiction outside England and Wales

 

Here's the Schedule of Offences:

 

 

SCHEDULE OF OFFENCES:

  • Conspiracy to defraud: Criminal Justice Act 1987, section 12
  • Conspiracy to defraud: Common Law
  • Corrupt transactions with (public) agents, corruptly accepting consideration: Prevention of Corruption Act 1906, section 1
  • Insider dealing: Criminal Justice Act 1993, sections 52 and 61
  • Public servant soliciting or accepting a gift: Public Bodies (Corrupt Practices) Act 1889, section 1
  • Theft: Theft Act 1968, section 1
  • Obtaining by deception: Theft Act 1968, section 15
  • Obtaining a money transfer by deception: Theft Act 1968, section 15A + B
  • Obtaining a pecuniary advantage by deception: Theft Act 1968, section 16
  • False accounting: Theft Act 1968, section 17
  • False statements by Company Directors: Theft Act 1968, section 19
  • Suppression of (company) documents: Theft Act 1968, section 20
  • Retaining a wrongful credit: Theft Act 1968, section 24A
  • Obtaining services by deception: Theft Act 1978, section 1
  • Evasion of liability by deception: Theft Act 1978, section 2
  • Cheating the Public Revenue/Making false statements tending to defraud the public revenue: Common Law
  • Punishment for fraudulent training: Companies Act 1985, section 458
  • Penalty for fraudulent evasion of duty etc: Customs & Excise Management Act 1979, section 170
  • Fraudulent evasion of VAT: Value Added Tax Act 1994 section 72
  • Person subject to a Banning order (as defined) : Football (Disorder) Act 2000, Schedule 1
  • Forgery: Forgery and Counterfeiting Act 1981, section 1
  • Copying a false instrument : Forgery and Counterfeiting Act 1981, section 2
  • Using a false instrument: Forgery and Counterfeiting Act 1981, section 3
  • Using a copy of a false instrument: Forgery and Counterfeiting Act 1981, section 4
  • Cheating the Public Revenue/ Making false statements tending to defraud the public revenue: Common Law
  • Punishment for fraudulent training: Companies Act 1985, section 458
  • Penalty for fraudulent evasion of duty etc: Customs & Excise Management Act 1979, section 170
  • Fraudulent evasion of VAT: Value Added Tax Act 1994, section 72
  • Person subject to a Banning order (as defined): Football (Disorder) Act 2000, Schedule 1
  • Forgery: Forgery and Counterfeiting Act 1981, section 1
  • Copying a false instrument: Forgery and Counterfeiting Act 1981, section 2
  • Using a false instrument: Forgery and Counterfeiting Act 1981, section 3
  • Using a copy of a false instrument: Forgery and Counterfeiting Act 1981, section 4

From here:

 

http://news.bbc.co.uk/sport1/hi/football/eng_prem/6923831.stm

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pedg

pedg

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  • Conspiracy to defraud: Criminal Justice Act 1987, section 12
  • Conspiracy to defraud: Common Law
  • Corrupt transactions with (public) agents, corruptly accepting consideration: Prevention of Corruption Act 1906, section 1
  • Insider dealing: Criminal Justice Act 1993, sections 52 and 61
  • Public servant soliciting or accepting a gift: Public Bodies (Corrupt Practices) Act 1889, section 1
  • Theft: Theft Act 1968, section 1
  • Obtaining by deception: Theft Act 1968, section 15
  • Obtaining a money transfer by deception: Theft Act 1968, section 15A + B
  • Obtaining a pecuniary advantage by deception: Theft Act 1968, section 16
  • False accounting: Theft Act 1968, section 17
  • False statements by Company Directors: Theft Act 1968, section 19
  • Suppression of (company) documents: Theft Act 1968, section 20
  • Retaining a wrongful credit: Theft Act 1968, section 24A
  • Obtaining services by deception: Theft Act 1978, section 1
  • Evasion of liability by deception: Theft Act 1978, section 2
  • Cheating the Public Revenue/Making false statements tending to defraud the public revenue: Common Law
  • Punishment for fraudulent training: Companies Act 1985, section 458
  • Penalty for fraudulent evasion of duty etc: Customs & Excise Management Act 1979, section 170
  • Fraudulent evasion of VAT: Value Added Tax Act 1994 section 72
  • Person subject to a Banning order (as defined) : Football (Disorder) Act 2000, Schedule 1
  • Forgery: Forgery and Counterfeiting Act 1981, section 1
  • Copying a false instrument : Forgery and Counterfeiting Act 1981, section 2
  • Using a false instrument: Forgery and Counterfeiting Act 1981, section 3
  • Using a copy of a false instrument: Forgery and Counterfeiting Act 1981, section 4
  • Cheating the Public Revenue/ Making false statements tending to defraud the public revenue: Common Law
  • Punishment for fraudulent training: Companies Act 1985, section 458
  • Penalty for fraudulent evasion of duty etc: Customs & Excise Management Act 1979, section 170
  • Fraudulent evasion of VAT: Value Added Tax Act 1994, section 72
  • Person subject to a Banning order (as defined): Football (Disorder) Act 2000, Schedule 1
  • Forgery: Forgery and Counterfeiting Act 1981, section 1
  • Copying a false instrument: Forgery and Counterfeiting Act 1981, section 2
  • Using a false instrument: Forgery and Counterfeiting Act 1981, section 3
  • Using a copy of a false instrument: Forgery and Counterfeiting Act 1981, section 4

Is that the pompey bucket list?

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MorningtonCrescent

MorningtonCrescent

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Posted

A very quick look around the Snoras web pages and there appears to be some intriguing links to the UK.....

 

The "Supervisory Board" of Snoras is headed by Chairman and Main Shareholder - Vladmir Antonov.... and another member is listed as Adam Habib....

 

Snoras recieved significant investment from a UK Asset Management Company in October this year - Jubilee Financial Products - one of the founders of JFP? Adam Habib

 

Snoras makes mention of this important investment in its news pages, but Jubilee make NO mention whatsoever of any link to Snoras?

 

 

I'm not drawing any specific conclusions here, just noticed the link and found it interesting!

 

:)

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Channon's Sideburns

Channon's Sideburns

Posted
Posted
A very quick look around the Snoras web pages and there appears to be some intriguing links to the UK.....

 

The "Supervisory Board" of Snoras is headed by Chairman and Main Shareholder - Vladmir Antonov.... and another member is listed as Adam Habib....

 

Snoras recieved significant investment from a UK Asset Management Company in October this year - Jubilee Financial Products - one of the founders of JFP? Adam Habib

 

Snoras makes mention of this important investment in its news pages, but Jubilee make NO mention whatsoever of any link to Snoras?

 

 

I'm not drawing any specific conclusions here, just noticed the link and found it interesting!

 

:)

 

OH it gets funnier.

 

One of his former employers? Lehmann Brothers.

 

http://uk.linkedin.com/pub/adam-habib/22/a34/203 :lol:

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Gingeletiss

Gingeletiss

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Posted

 

Lawmakers approved legislation on Nov. 17 allowing the government to split Snoras into two banks, with good and bad assets. The bad bank is planned to file for protection from creditors, while the government will seek an investor for the good bank with healthy assets and insured deposits “as soon as possible,” the Finance Ministry said on Nov. 18.

 

See poopey gets a mention there!

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