Ali Syed Official Statement

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Statement from Western Gulf Advisory

In response to allegations made on the BBC Radio 5 Live Investigates broadcast on 5 September 2010, please find a statement from Western Gulf Advisory (WGA):

“This report contained a number of false and misleading allegations, which have subsequently been thoroughly investigated by WGA and its advisers and are corrected below:

It is true that Mr Ali rented an apartment in Bryanston Court in London but he vacated the property in a proper state having fully paid all rent.

Investigations by WGA’s legal representatives in the UK have confirmed that there is no record of outstanding council tax debts owed by Mr Ali and no evidence has been found of any congestion charge fine. In fact, in one instance Mr Ali overpaid council tax.

Mr Ali was unaware of an unpaid county court judgment, but has immediately cleared the debt and he is grateful to the BBC for bringing this to his attention.

Mr Ali was a director of two UK companies which were not trading and had no assets. Both companies were dissolved in 2006. The same is true of the Canadian companies and there is no basis to say that these companies ‘fell foul of the authorities in Canada’.

The programme incorrectly stated that Mr Ali grew up in Bhongir. In fact, Mr Ali’s family come from a different district in India called Bibinagar, albeit that both places are in the same state of Andra Pradesh. This is where Mr Ali’s family made their wealth through owning substantial agricultural land.

Mr Ali provided a forwarding address to all his business contacts after he left his London home in 2005 and any suggestion that he attempted to conceal his address is false and misleading.

The conclusions drawn in the programme regarding WGA B.S.C (Bahraini Shareholding Company)’s accounts are false and misleading and have been independently audited by BDO. Like any similar financial institution, WGA does not need to keep significant cash positions as it does not have large liabilities or operating expenses. Furthermore WGA’s Bahraini business is a separate entity to its European businesses, which are responsible for executing all of its investments.

WGA is a well capitalised business and has the sum of $850 million available in liquid assets for investment purposes. As previously stated, WGA remains committed to expanding its investment activities in the UK.

Any attempt to suggest that Mr Ali has a questionable track record in business and is therefore unsuitable to take over Blackburn Rovers is a false and damaging allegation.”

Ian Morris - ian.morris@citigatedr.co.uk / 07940 797560

Constanze Ullmann - constanze.ullmann@citigatedr.co.uk / 07748 932 339

Thanks to EwoodGlory