https://sumsub.com/blog/3-stages-money-laundering/

Read the above carefully and with an open mind.

10 minutes ago, tomphil said:

I'd pay money to read the unedited version !

I’m sure Josh will remove the blacked out bits and send it to you, if you ask him. For your eyes only of course. 

2 hours ago, tomphil said:

Iv'e been saying for years on here, often to tinfoil accusations, that i firmly believe a bit of it goes elsewhere and that's why they are happy to plod on playing with the club.

To Indian tax authorities looking from outside 200 million for seemingly zero return nor prospering or growing of the football club, large income from sponsorship, players sales often turned down. Players leaving for nothing after investing in them, etc.

Well it could look like a form of money laundering couldn't it that's why it's not before time they should want to know where every penny has gone.

Not that i think they are that stupid but i remain convinced there was always a bit more to it than we'll ever know.

I said it in an earlier post. Venky’s have stated in their court documentation, that they need to send the money to protect their investment. Unless every penny Rovers spend is accounted for, this could be crucial. We know statements like “I worked for nothing during the January transfer window and had the place rocking” is a highly suspicious statement and I suspect the person who made it was unlikely to have worked for nothing. Protecting the investment, when the funds being pumped in seem to have at least an element, disappearing somewhere is a dangerous thing to state, when you are also putting a bond up to ensure the funds are being used for the intentions stated,

The heat seems to be ramping up significantly, but there is plenty we don’t know still.?

1 hour ago, tomphil said:

And Ferguson and numerous others.

I'll never forget the looks on the faces of the panel for that game at Spurs under Kean.

The look on the face of the late great Ray Wilkins, after the Kean interview, was amazing. 

21 minutes ago, SuperBrfc said:

A very well laid out and helpful post. Thanks, Miller.

While it is a bleak situation overall, what gives me hope is that there is a chance that the Court over there might look into the club's finances at some point. That could be the moment that a lot of us have been waiting for.

I would like to think there is a thought over there to find out what this £200m+ that has been sent over the years has been spent on, especially when the club is in a worse state than when they found it. It hasn't got to that stage of the investigation yet, but it could do. I truly hope it does.

If I've got it right, the current situation means that they in effect have to release double the funds via the Indian Court, because they have to provide the authorities with an equivalent guarantee.

If it's £20m being sent to Rovers, they have to put £20m aside for the ED at the same time, meaning it's costing them £40m in total. £25m being sent to Rovers means it's £25m for the ED too, making it £50m they have to put up in total.

This scenario could go on for a long while. Surely this has to become untenable for them at some stage, despite however wealthy they may be.

Your post is why I firmly believe they are covering something up.

It is a Robert Maxwell scenario robbing the pension fund to buy Oxford.

There is no way they would agree to go to court to not only get permission to throw £20 million a year away, but also stump up double that with the required bond now too. 

4 minutes ago, Ben-2000 said:

Not necessarily.

One party can request it and its up to the judge to accept it (or not) if the other party doesn't agree.

Who would want to adjourn it?

We have Venky's lawyers asking for permission to send money that we know is pissed up against the wall and maybe ED saying, we want them to keep the money in India, whist we investigate them.

There must be a valid reason for them insisting on a bond each time too, so to me, there is a BIG issue here, not a simple adjournment.

Remember last time , it was stated that the funds needed to be sent to protect their investment and that is a lie, simple as that.

Perhaps they have been rumbled, during the last 3 months

29 minutes ago, BigUts said:

But...he says there is a 26m tax bill outstanding and any delays will be trouble...which has now happened.

I am sure HMRC will understand.

So no doubt our owners will now sit back and blame anyone but themselves, despite this all being down to their illegal payments, making it necessary for them to go to court to get permission to thrown money away.

I was 95% sure they were covering something up before all this, but my mind is made up now.

Something stinks.

4 minutes ago, roverblue said:

So it’s likely the court said no then?

Hopefully 

On 22/01/2024 at 17:07, nbdrovers said:

they best feed him some potatoes

Hope he isn’t starved of the ball on Monday, we could do with another hatrick. 

2 minutes ago, B16Rover said:

https://onefootball.com/en/news/explained-how-ipswich-towns-owners-gamechanger-20-ltd-got-rich-38405254

 

Ipswich new owners, financially risk averse pension group, bought the club and wiped their 100m debt. 

 

They view a sustainable premier league club as a profitable and safe investment for the Arizona emergency services pension fund.

 

Who would buy Blackburn rovers?

That highlights how badly Rover are run. I find it incredible that the some supporters of our wonderful club, think we are destined to be left to rot, simply because an Indian family who none of us had evet heard of 15 years ago, drop us in it.

34 minutes ago, BigUts said:

See previous examples of basically every other club that has been bought in the depths of despair.

Rovers situation isn't overly unique (sadly) but the positive is that we have lots of examples of clubs who have been bought in a much worse state then we would be if were in admin / "given away".

Spot on.

With living in Bolton for a few years and with my late first wife being from Bolton, I know a lot of Bolton fans. My two kids went to school there too, so my son in particular mixes with a few Bolton fans.

They went through their very low times, at the same time as Bury and as many will recall, they were worried that they would suffer the same fate as the Shakers.

Fast forward 5 years and they are now on the verge of returning to the second tier, with far bigger crowds than Rovers and what appears to be decent owners.

Believe me, there were lots of fans in despair when times were tough and plenty saying the same thing about who will buy us, so that's just a case in point.

2 hours ago, blondie said:

 

We are playing in our skins V Wrexham. 

49 minutes ago, Herbie6590 said:

Righty-ho… Ewood v Hollywood - here we go….play nicely Wrexham visitors 😉

Last time I was at the Racecourse, this guy scored the winner…

If my memory serves me right, we won 2-0. Did he get them both?

42 minutes ago, roversfan99 said:

Theres no reason to suggest that he wouldnt have accepted a bigger contract at a club in a better league.

You just cant and wont accept that the owners directly prevented us from potentially getting a big fee because blame has to be diverted elsewhere. It was a foolish decision without hindsight to not take the money. We essentially loaned a player for 8m.

Just another in a very long line of strange decisions made by the owners.

It’s got that feel, where we huff and puff and they do us on the break. I hope I’m wrong but see us losing this. We are a very hard watch just now.

6 hours ago, islander200 said:

Because of a potential transfer? 

Surely him and the club wouldn't have wanted to play him in a friendly If that was the case 

There is a big difference between what you would hope is a blood and thunder league match and a behind closed doors friendly.

I may be wrong and hope I am. 

4 hours ago, islander200 said:

Why? He played 45 minutes in the friendly this week 

I could be wrong, but I have a feeling he won’t play.

6 hours ago, CD_93 said:

Based on...?

My gut feeling 

2 hours ago, joey_big_nose said:

As I wrote on the transfer thread I would play this team (though swapped Garrett for Sigurdsson on reflection for a bit more bite in the side)

                        Pears

          Carter      Hyam    S Wharton

JRC      Tronstad       A Wharton   Pickering

                       Garrett

          Gallagher      Szmodics

 

We are starting to have some more decent options off the bench too (Brittain, Chisene, Ayari, Sigurdsson) - getting a bit more hopeful about Telalovic too. Moran getting a proper rest could refresh him.

However I will be utterly amazed if we change from the 4231. JDT's thinking seems to be along the lines of "in for a penny, in for a pound". Frustrating as I think if we did do something like the above we could massively lower our chances of conceding an early goal which should be our absolute number one priority.

 

I don't think Szmodics will be playing.

1 hour ago, Rogerb said:

I think there is an inevitable outcome that eventually the Directorate of Enforcement will eventually get round to examining Rovers. My reading of the situation is that once that happens no funds at all will be able to be sent overseas to keep us going.

I think there is a strong possibility that they will eventually realise there is something Amis. Venky’s are treading a very dangerous path with the bond, as they are saying, they are protecting their investment with the money they send. How that can be the case when they have already lost £200m is up for debate.

As we all know on here, any more money the send will go into the same abyss that the rest has, so what investment are they protecting exactly.

4 hours ago, arbitro said:

First mention I've seen of money laundering in any publication.

Judge Amit Mahajan agreed to allow the tax bill to be settled, but insisted on a bond for the same amount to be lodged with the Directorate of Enforcement (ED), an arm of the Indian government set up to target money laundering. The bond would be forfeited if it emerged the money was used for another purpose.

Follow that to the letter of the law and assuming it applies every quarter, it means the £20m will now mean they need to cough up £40m per season.

One think for certain, Huddersfield will score. It’s just a case of how many and therefore how many we will need to get a point or 3.

We are 20/1 to go down just now, but those odds will tumble if we lose again. The old adage that the bookies are never wrong gives me some hope, but it’s fading fast. 

1 hour ago, RevidgeBlue said:

What do you mean if Venkys "get found guilty"?

Of what?

I am surprised that you have not read it, but Venky's stand accused of making illegal payments for 2010 to date.

Link below.

https://www.business-standard.com/india-news/ed-seizes-over-rs-65-cr-of-venkateshwara-hatcheries-in-fema-probe-123090400325_1.html

31 minutes ago, Mattyblue said:

Sounds like you are annoyed that he has released something you were happy to sit on - keep the mushrooms in the dark, ay? All power to Mike and the Trust I say.

How do we, the fans, remove the clowns at Ewood then? They are doing the job the owners want them to do. Cut costs, head down and crack on. They’ll go when either the owners choose to appoint someone else, they retire or they’ll be booted out the door with the owners themselves.

This isn’t going to ‘deflect’ anything, the fans already know that something is going on, a look at the events of this season tells them that, court cases in India for approval to merely pay the bills tells them that - this just confirms it, ‘history’ or not.

Getting rid of the clowns at Ewood, would simply follow if we got rid of Venky’s.

I would imagine if the payment plan with HMRC and their subsequent threat to wind the club up, is out in the open properly, then perhaps even the fans who don’t realise how bad the owners are, may now do so,

If a really ground swell follows and the vast majority get on board, then that could ramp the pressure up and maybe help us get a concerted efforts and really give it to them big time.

I don’t know how accessible they are, but if some sort of letter could be drafted and perhaps signed by as many fans as possible, then delivered to the court, perhaps that could stop the agreement to release funds.

That in turn of course, could then lead to our own demise, so it would need considering properly, but is a way perhaps, even though it won’t be easy. 

4 hours ago, glen9mullan said:

Hence as per last week's Post I'm working with an investigative journalist in India to shed more light.

The truth is even Waggott don't know what's going on.

I asked him straight out, was anything else gonna come out which wasn't already out there , and he said No

I asked him the same thing and got the same answer. Personally I think he does know more then he was letting on, but is covering it up and lying about certain things too.

My meeting with him, came about due to an E Mail I sent, regarding the illegal payments being made. Rather than replying and risking his response being in writing he invited me in. He also accidentally copied me in to an E Mail to his PA Christina Haynes who subsequently E Mailed me inviting me in.

What was even more telling was him asking me if I was recording the meeting. I wonder why he would ask that?