[Archived] Fans Unite Under ‘We Are Rovers’ Banner

[MGAndy]

Yes.

VLL is 100% funded by £126m share capital but £87m of that is provided as a loan callable on notice to Rovers. The Directors have undertaken not to call the loan and to continue ensuring funds to trade so there is no going concern qualification.

Incidentally, the VLL accounts year to March 2015 were filed by July last year.

No sign of year to March 2016 yet as far as I am aware.

Philip, do you know the purpose of this company dissolved a couple of months ago?

https://beta.companieshouse.gov.uk/company/08107269

[47er]

Wasn't Venkys Express set up to sell their takeaway curried chicken? Weren't they going to establish restaurants throughout the UK and dominate the fast food market?

[1arC]

If I remember correctly, we didn't know that Crescendo was registered in Brunei when I became aware of this.

Just one missing link in the puzzle with regards to where the money came from? Granted we have the 7 steps and the money came from a Western Union account in Bradford, but how did it end up in this Western Union account. With what I do for a living, if a client has £10k in his account, I have to prove where it came from, as part of my money laundering responsibilities. Western Union have to follow these procedure's too. To demonstrate what I am saying, try buying your Euro's for your next holiday, but paying for them in hard cash. Anything above £500 will cause you a BIG problem. How the hell did £23 Million end up in a Western Union account in Bradford, at the beginning of a long journey?

[philipl]

Just one missing link in the puzzle with regards to where the money came from? Granted we have the 7 steps and the money came from a Western Union account in Bradford, but how did it end up in this Western Union account. With what I do for a living, if a client has £10k in his account, I have to prove where it came from, as part of my money laundering responsibilities. Western Union have to follow these procedure's too. To demonstrate what I am saying, try buying your Euro's for your next holiday, but paying for them in hard cash. Anything above £500 will cause you a BIG problem. How the hell did £23 Million end up in a Western Union account in Bradford, at the beginning of a long journey?

We are talking six years ago when Western Union was less regulated.

I have to agree that your reaction is exactly the same as mine when I first heard of the first stage of he journey. But you have to remember that Western Union Bradford was used to handling huge amounts of cash from the local Asian community sent to families back in the sub-continent.

[1arC]

We are talking six years ago when Western Union was less regulated.

I have to agree that your reaction is exactly the same as mine when I first heard of the first stage of he journey. But you have to remember that Western Union Bradford was used to handling huge amounts of cash from the local Asian community sent to families back in the sub-continent.

So is that £23 Million from 6 years ago untraceable even by the Inland Revenue?

[philipl]

So is that £23 Million from 6 years ago untraceable even by the Inland Revenue?

You need to understand the extent to which Bradford was a cash economy then.

[koi]

You need to understand the extent to which Bradford was a cash economy then.

That's a hell of a lot of cash to hide though!

[1arC]

That's a hell of a lot of cash to hide though!

Absolutely, it is the haystack, rather than the needle I feel. If the club has been bought with illegal money then surely something can be done, under the proceeds of crime act?

[1arC]

I have worked in the financial services industry for over 25 years and pasted below is an example of what banks do when it comes to depositing cash. I find it incredible that £23 million can be deposited in cash in a Western Union account in Bradford and nothing was reported. Even now, 6 years on reporting this would trigger an investigation. .

http://www.thisismoney.co.uk/money/saving/article-2551823/Why-banks-wont-let-pay-cash-account.html

[philipl]

That's a hell of a lot of cash to hide though!

Quote from Rahman Yong and Ullah published by MacMillan in 2014:

"The true value of remittances, however, is likely to be much higher because this official account does not capture informal remittances. One source estimates informal remittances as between US$100 and US$200 billion a year, while another puts the figure between US$200 and US$300 billion a year (for details, see Chapter 4 by Rahman and Yeoh, this volume)"

Those are figures for all informal (ie cash) remittances from all over the world to South East Asia by the expatriate communities.

Bradford was the centre for making cash remittances from the UK and figures of £250m+ per year are not uncommon estimates and would probably be on the small side if that estimate of global informal remittances is correct. Within that size of number, it would be quite possible to send a number of cash bundles out to Brunei without attracting attention. Then off to the Cayman Islands for a quick wash and brush up, Mumbai (for a day), Dubai, Zurich, Rothschilds in London and bingo...

No idea if this is true but I too witnessed the reaction it evinced from Richard Scudamore when we met him as documented in Glen's blog.

[chaddyrovers]

Quote from Rahman Yong and Ullah published by MacMillan in 2014:

"The true value of remittances, however, is likely to be much higher because this official account does not capture informal remittances. One source estimates informal remittances as between US$100 and US$200 billion a year, while another puts the figure between US$200 and US$300 billion a year (for details, see Chapter 4 by Rahman and Yeoh, this volume)"

Those are figures for all informal (ie cash) remittances from all over the world to South East Asia by the expatriate communities.

Bradford was the centre for making cash remittances from the UK and figures of £250m+ per year are not uncommon estimates and would probably be on the small side if that estimate of global informal remittances is correct. Within that size of number, it would be quite possible to send a number of cash bundles out to Brunei without attracting attention. Then off to the Cayman Islands for a quick wash and brush up, Mumbai (for a day), Dubai, Zurich, Rothschilds in London and bingo...

No idea if this is true but I too witnessed the reaction it evinced from Richard Scudamore when we met him as documented in Glen's blog.

so money was transferred through different accounts in Pune, Brunei, Cayman Islands, Mumbai, Dubai, Zurich and then London with Rothschilds?

[J*B]

so money was transferred through different accounts in Pune, Brunei, Cayman Islands, Mumbai, Dubai, Zurich and then London with Rothschilds?

Read the last couple of lines again, then have another go.

[yoda]

Read the last couple of lines again, then have another go.

It's a killer is that bingo malarkey

[Iceman]

Quote from Rahman Yong and Ullah published by MacMillan in 2014:

"The true value of remittances, however, is likely to be much higher because this official account does not capture informal remittances. One source estimates informal remittances as between US$100 and US$200 billion a year, while another puts the figure between US$200 and US$300 billion a year (for details, see Chapter 4 by Rahman and Yeoh, this volume)"

Those are figures for all informal (ie cash) remittances from all over the world to South East Asia by the expatriate communities.

Bradford was the centre for making cash remittances from the UK and figures of £250m+ per year are not uncommon estimates and would probably be on the small side if that estimate of global informal remittances is correct. Within that size of number, it would be quite possible to send a number of cash bundles out to Brunei without attracting attention. Then off to the Cayman Islands for a quick wash and brush up, Mumbai (for a day), Dubai, Zurich, Rothschilds in London and bingo...

No idea if this is true but I too witnessed the reaction it evinced from Richard Scudamore when we met him as documented in Glen's blog.

But a lot of companies and individuals, are moving money all over the world, in order to avoid paying tax. Its nothing new Philip

In Rovers case, money made on transfers, seems to be very quickly moved, as nobody is able to indicate where that has gone to. Who are the Rovers auditors btw? Surely whoever is auditing, should also be looked at closely, no?

[J*B]

Great to see its full steam ahead from the WAR group - great progress folks!

[ABBEY]

True ... So far heading towards the end of the first month they might as well use frankie goes to Pune theme

War .. What is it good for ?

Absolutely nothing

[AllRoverAsia]

Edited: Got my dates fu mixed up re RT/WAR update due 20th

[Lancaster Rover]

Surely HMRC would be very interested in some of this info re the origination of monies used to purchase the club? If they are in the process of an investigation you would think that this may be be able to assist them? Has the info been passed onto them do we know?

[AndyNeil]

is it just me, or do things seem to of gone very quiet on a lot of fronts? Backstage jockeying for position maybe... the momentum from that meeting/Indian press reports is quickly evaporating while those with the hands on the wheel seem to of virtually disappeared?!?!

[K-Hod]

is it just me, or do things seem to of gone very quiet on a lot of fronts? Backstage jockeying for position maybe... the momentum from that meeting/Indian press reports is quickly evaporating while those with the hands on the wheel seem to of virtually disappeared?!?!

It's not just you, tbh. There seemed to be so much progress up to and including the open floor meeting, now it's gone quiet and to be honest it's quite depressing IMO......

[Mike E]

WAR! HUH! What is it good for? Absolutely nothing!

[tomphil]

Calm before the storm ? Hear everything say nothing ? Still waters run deep ? We can but hope....

Or is just a sightseeing trip to Pune to have doors slammed in faces ?

[Lancaster Rover]

Aren't they releasing a statement tomorrow about the ownership and covenants/protections on Ewood and Brockhall?

Not that I think that's enough, I completely agree that a lot of momentum seems have been lost in the time since the open floor meeting.

[Athlete]

It's not just you, tbh. There seemed to be so much progress up to and including the open floor meeting, now it's gone quiet and to be honest it's quite depressing IMO......

But some fans think a win over the mighty Rotherham United and all is well in the world....

[K-Hod]

But some fans think a win over the mighty Rotherham United and all is well in the world....

I don't think anyone really thinks that tbh, Saturday was three points with some good goals in there, that's about it. With respect, it's this kind of thing which aids the divisions in the fan base (amongst many other things). People believe they are being persecuted for enjoying a Rovers win, on a Rovers message board, which is insane when you see it written down.....Similarly, others may feel they can't see beyond the bigger picture (which is fair enough, I'd still say results on the pitch have taken on secondary importance to addressing the ownership issues).

The problems with the club prevail, it could even be argued that they're getting worse if the HMRC revelations are to be believed.