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TheCountOfNowhere

Northampton Town: £10M Loan 'misappropriated' By Developers

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I remember various locals complaining on line about this at the time

Northampton Town: £10m loan 'misappropriated' by developers

http://www.bbc.co.uk/news/uk-england-northamptonshire-35403724

Here's the good bit

Where did the £10.25m loan go?

  • £8.75m was transferred by Northampton Town Football Club to 1st Land Ltd and County (Oundle) Ltd, both owned by Howard Grossman.

Of which:

  • £2.28m (estimated) to suppliers and contractors, including £491,000 to stadium builders Buckingham Group and £986,000 to Synergy Property Design Consultants
  • £2.05m to Mr Cardoza's father, Anthony
  • £1.475m to County Homes (Herts) Ltd, whose current and former directors include Howard Grossman and Stephen Hewitt
  • £1.09m to Marcus Grossman, Simon Patnick and Stephen Hewitt in "consultancy fees"
  • £600,000 to rebuild David Cardoza's house
  • £314,000 to Howard Grossman as a fee
  • £233,000 to County Cemetery Services Ltd, whose current and former directors include Marcus Grossman, Simon Patnick and David Cardoza. Shareholders included Anne Patnick, Steve Allan, Keith Western, Paula Etti, Christina Cardoza and Rita Cardoza. Its assets were sold to Centurion Infinity Ltd, whose current and former directors include Marcus Grossman, Simon Patnick and Gary Robert Platt

Tax payers money should never be loaned to anyone !!!! If they have any spare, cut taxes !!!

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