Ric Flair Posted 29 November 2007 Share Posted 29 November 2007 I've had to do shit loads of training on it.If he gets found guilty of Laundering money, large amounts of money, he's going down. For a long time as well. Yes, but come on, if the old bill had something on Mandaric in relation to Money Laundering he'd not have been released after a few hours and the agent and player in question with the whole sting be kept in for questioning. Link to comment Share on other sites More sharing options...
Manwell Pablo Posted 29 November 2007 Share Posted 29 November 2007 Yes, but come on, if the old bill had something on Mandaric in relation to Money Laundering he'd not have been released after a few hours and the agent and player in question with the whole sting be kept in for questioning. Well yes, I'm not denying that. I'm just saying, if people think he'll be ok if he's found guilty think again. Link to comment Share on other sites More sharing options...
Ric Flair Posted 29 November 2007 Share Posted 29 November 2007 Well yes, I'm not denying that.I'm just saying, if people think he'll be ok if he's found guilty think again. Absolutely, he'd be lucky if he's out before Elvis's next league goal. Link to comment Share on other sites More sharing options...
Bellend Sebastian Posted 29 November 2007 Share Posted 29 November 2007 Manny Pablo's right, money laundering is a very serious offence. In theory you can be banged up for not reporting your suspicions that it might be happening, even if you're not actually involved. I cannot see why Milan would be involved though...it's not as if he needs a second income, is it? Link to comment Share on other sites More sharing options...
FilboFox Posted 29 November 2007 Share Posted 29 November 2007 Milan's being held on suspicion of money laundering on top of the corrupting football charge... whats the punishment for that? Link to comment Share on other sites More sharing options...
Raj Posted 29 November 2007 Share Posted 29 November 2007 Have no Fear. Milan will be clear. FACT Link to comment Share on other sites More sharing options...
Ric Flair Posted 29 November 2007 Share Posted 29 November 2007 Milan's being accused of money laundering... whats the punishment for that? 24 hours with Bernie in The Las Plantangent. Link to comment Share on other sites More sharing options...
Fez of Mahrez Posted 29 November 2007 Share Posted 29 November 2007 24 hours with Bernie in The Las Plantangent. Bernie was reminiscing about Tom Jones with my Dad on the train home from Bristol on Saturday because we were playing Cardiff next. That was a bizarre five minutes. Link to comment Share on other sites More sharing options...
MC Prussian Posted 29 November 2007 Share Posted 29 November 2007 Milan's being accused of money laundering... whats the punishment for that? He could be fined, put in jail or both. Whatever the outcome, it wouldn't affect LCFC directly. Link to comment Share on other sites More sharing options...
FilboFox Posted 29 November 2007 Share Posted 29 November 2007 He could be fined, put in jail or both.Whatever the outcome, it wouldn't affect LCFC directly. But if he was put into jail, what would happen to Leicester... funds and the running of the club would have to be done by someone else wouldn't they? Link to comment Share on other sites More sharing options...
Raj Posted 29 November 2007 Share Posted 29 November 2007 But if he was put into jail, what would happen to Leicester... funds and the running of the club would have to be done by someone else wouldn't they? I think the answer lies in post 232 and 233. Link to comment Share on other sites More sharing options...
danny. Posted 29 November 2007 Share Posted 29 November 2007 if he is charged surely his accounts and assets will be frozen = players not getting paid etcdeep shit You do realise LCFC isn't run from Mandaric's personal account right? Any business or organisation more formal than a sole trader has completely seperate accounts/books etc. than the owner. Link to comment Share on other sites More sharing options...
Phlashman Posted 29 November 2007 Share Posted 29 November 2007 You do realise LCFC isn't run from Mandaric's personal account right?Any business or organisation more formal than a sole trader has completely seperate accounts/books etc. than the owner. I think most people think Milan walks around the walkers once a month with a huge gypo-wad making sure everyone gets their dues. Link to comment Share on other sites More sharing options...
Ric Flair Posted 29 November 2007 Share Posted 29 November 2007 Bernie was reminiscing about Tom Jones with my Dad on the train home from Bristol on Saturday because we were playing Cardiff next. That was a bizarre five minutes. I've actually spoken to Bernie when he was sober once and I had a half decent conversation with him. I was pissed out of my face however, so that might answer that. Link to comment Share on other sites More sharing options...
eaststandtom Posted 29 November 2007 Share Posted 29 November 2007 You do realise LCFC isn't run from Mandaric's personal account right?Any business or organisation more formal than a sole trader has completely seperate accounts/books etc. than the owner. no, because i am not a businessman. surely it would have an effect though. it must Link to comment Share on other sites More sharing options...
The People's Hero Posted 29 November 2007 Share Posted 29 November 2007 I think most people think Milan walks around the walkers once a month with a huge gypo-wad making sure everyone gets their dues. This again! Link to comment Share on other sites More sharing options...
Ultra Posted 29 November 2007 Share Posted 29 November 2007 But if he was put into jail, what would happen to Leicester... funds and the running of the club would have to be done by someone else wouldn't they? If the worst happens (he gets sent down or, more likely, banned from directorship of any football clubs), then he'll be duty bound to put the club up for sale on the same generous terms on which he acquired it. And there would be no shortage of interest from potential owners. But we're a long way from that at the moment. Even if the case makes it to trial (which is still unlikely at the moment) the wheels of justice turn slowly and it will be a year at least before that trial is heard. Link to comment Share on other sites More sharing options...
Finnegan Posted 29 November 2007 Share Posted 29 November 2007 Can he launder up some money for Earnie? Link to comment Share on other sites More sharing options...
Ric Flair Posted 29 November 2007 Share Posted 29 November 2007 If the worst happens (he gets sent down or, more likely, banned from directorship of any football clubs), then he'll be duty bound to put the club up for sale on the same generous terms on which he acquired it. And there would be no shortage of interest from potential owners.But we're a long way from that at the moment. Even if the case makes it to trial (which is still unlikely at the moment) the wheels of justice turn slowly and it will be a year at least before that trial is heard. Interesting to hear. Link to comment Share on other sites More sharing options...
danny. Posted 29 November 2007 Share Posted 29 November 2007 no, because i am not a businessman.surely it would have an effect though. it must Nope, completely seperate entities. The same as if a business liquidates, it doesn't affect the directors or owners and they don't owe anything to their creditors. Link to comment Share on other sites More sharing options...
andyh1884 Posted 29 November 2007 Share Posted 29 November 2007 If the worst happens (he gets sent down or, more likely, banned from directorship of any football clubs), then he'll be duty bound to put the club up for sale on the same generous terms on which he acquired it. And there would be no shortage of interest from potential owners.But we're a long way from that at the moment. Even if the case makes it to trial (which is still unlikely at the moment) the wheels of justice turn slowly and it will be a year at least before that trial is heard. Would he necessarily though? Obviously he can be banned from being a director, but that's not the same thing as owning the club. I know there was some debate about whether Thaksin Shinawhatever had passed the 'fit & proper' test, but not sure whether that was to do with him buying it or being a directors of Manchester City. It might be different for football clubs but there's nowt to stop anybody owning shares in normal companies is there? Link to comment Share on other sites More sharing options...
andyh1884 Posted 29 November 2007 Share Posted 29 November 2007 Nope, completely seperate entities. The same as if a business liquidates, it doesn't affect the directors or owners and they don't owe anything to their creditors. Not necessarily true - under company law in certain circumstances the directors can be responsible for the company's debts if they have run the company negligently or fraudulently Link to comment Share on other sites More sharing options...
Tommy G Posted 29 November 2007 Share Posted 29 November 2007 You do realise LCFC isn't run from Mandaric's personal account right?Any business or organisation more formal than a sole trader has completely seperate accounts/books etc. than the owner. Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source, and/or destination of money. I agree with danny here. Im not sure the exact company structure of LCFC because its a bit more complex compared to your average business. It's not a PLC that for sure, it could just be a LTD company. The accountancy firm I work for unfortunately doesnt do the accounts for city which is a shame. I'd imagine MM transfers money from his own account to he "LCFC Account" lets say. Assuming this is the case then Leicester could be in the shit... This also lies with the seriousness of the offence and how much MM was involved. It seems to me that he supplied the cash to buy Faye. Money Laundering is deemed as a severe offence which can lead to going to Jail for just quite small transactions 1k +, but were talking over a million quid here. It wont be just a case of a slap on the wrist and don't do it again. Considering the FA are quite hot on this topic after all the investigations that have gone on with bungs etc etc then if they are found guilty then the police/FA will want to make an example of them to the rest of the footballing community. We shall wait and see anyway, but a transfer embargo would seem a possible punishment for Leicester but if you look at it the other way they shouldn't punish Leicester because 'the club' hasn't done anything wrong - just the owner...assuming he has? Link to comment Share on other sites More sharing options...
The People's Hero Posted 29 November 2007 Share Posted 29 November 2007 If the worst happens (he gets sent down or, more likely, banned from directorship of any football clubs), then he'll be duty bound to put the club up for sale on the same generous terms on which he acquired it. And there would be no shortage of interest from potential owners.But we're a long way from that at the moment. Even if the case makes it to trial (which is still unlikely at the moment) the wheels of justice turn slowly and it will be a year at least before that trial is heard. Oh right - are your legal team involved then? If so, I'd suggest Milan doesn't worry too much. Link to comment Share on other sites More sharing options...
Tommy G Posted 29 November 2007 Share Posted 29 November 2007 Not necessarily true - under company law in certain circumstances the directors can be responsible for the company's debts if they have run the company negligently or fraudulently A company is responsable for the debts of their company if it goes bankrupt only if it either trades as a 'sole trader' or 'partnership'. If the company is either a Limited company or PLC then it has 'limited liability' for its debts. which means if for example M&S go bust then the directors won't be responsable personally for the debts of their company and any other creditors they may owe money to. Link to comment Share on other sites More sharing options...
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