Waterford Complaint

Quote:

---

Originally Posted by sbgawa

People run drug empires from prison so im sure Piley will be able to run waterford and Fleetwood.
Will be easier as its not ilegal.
He will need something to entertain him

---

the proceeds of the fraud could be frozen pending law suits from victims, maybe even seized by the NCA, well from Piley himself. Maybe the ownership of the companies include people who were not party to the crimes and so they themselves can trade. If assets are frozen to be disposed of does Piley have full ownership of Waterford as that will very much contradict the 'nothing to see here nature' of the clubs statement. Jurisdiction differences arent a safety net as there are plenty of examples of cooperation between CAB, NCA and other UK and Irish departments.

Fleetwoods statement as an aside: "The club would like to reiterate convictions are against individuals and not Fleetwood Town FC, or any of the businesses associated with them, and will continue to operate as normal."It added the club "remains in communication with the EFL in relation to the implications of the convictions and will now be making an application to the League in relation to a change of control".

Ah come on Nesta you are talking real facts and actual reality , I was focusing on a sound bite and preparing a water feature for reception area.

Haven't the waterford fans suffered enough prior to losing the playoff to sligo

Pilleys accounts will surely be frozen as there has to reparation of funds to those who were defrauded?

I'm just wondering how Pats will manage to be blamed for this.

Quote:

---

Originally Posted by Jack B

I'm just wondering how Pats will manage to be blamed for this.

---

Well they could trawl through (player) registrations looking for legal loopholes to overturn things first. They have a new inside man to do some dirty work for them now too!

So changes made to Waterford fc board as Pilley is removed
https://www.wlrfm.com/sport/pilley-r...s-board-315015

Who is the owner of Waterford though. Rumour has it Piley still is .

Is Treaty fixture definitely on tomorrow as Wlrfm are the only website saying this.

The game v Treaty has not been rescheduled yet. That article on WLR is from 13 July so refers to the original fixture that was due to happen last Friday.
Pilley passed ownership to his family a while ago after he was convicted.

https://www.independent.ie/sport/soc...633735255.html

Not at all on topic or football but far too good to ignore, if we moan about FAI rulebooks past or present, appealing cards, or snigger at GAA committees to appeal appeals will this is great craic altogether, Waterford like complaint mixed with GLITW and almost disappointing that its not a LoI moment...crowds soaring and LoI admin is not the laughing stock of Irish sport...im blaming covid again. It will become the viral sporting news thing if it hasnt already.

https://www.rte.ie/sport/basketball/...to-be-replayed
https://www.rte.ie/sport/basketball/...y-0-3-seconds/

Breaking News: Convicted fraudster who is sitting in jail cell right now for the next 13 years after scamming innocent people and companies out of millions of pounds has sold Waterford to a newly formed entity with only one 100% shareholder who wait for it is his own son

Great to see these type of above board new takeovers in the LOI fully supported and endorsed by the FAI


https://waterfordfc.ie/2024/05/30/cl...-of-ownership/

Quote:

---

Originally Posted by total hoofball

Breaking News: Convicted fraudster who is sitting in jail cell right now for the next 13 years after scamming innocent people and companies out of millions of pounds has sold Waterford to a newly formed entity with only one 100% shareholder who wait for it is his own son

Great to see these type of above board new takeovers in the LOI fully supported and endorsed by the FAI


https://waterfordfc.ie/2024/05/30/cl...-of-ownership/

---

Legally how can the FAI prevent the sale though? The son had no association to the crime committed by his father nor is he convicted of fraud or disqualified to be a director. Jamie and Steve Curwood have been running the club long before day in fairness.

Quote:

---

Originally Posted by total hoofball

Breaking News: Convicted fraudster who is sitting in jail cell right now for the next 13 years after scamming innocent people and companies out of millions of pounds has sold Waterford to a newly formed entity with only one 100% shareholder who wait for it is his own son

Great to see these type of above board new takeovers in the LOI fully supported and endorsed by the FAI


https://waterfordfc.ie/2024/05/30/cl...-of-ownership/

---

Not just Waterford, mind, Andy Pilley has also transferred his 98% shareholding in Fleetwood Tn to son Jamie.

This has been approved by the EFL, though there seems to have been some sort of hitch in the process:

In a statement, the league said: "The primary issue was that Mr Andrew Pilley had previously directed that his son Mr Jamie Pilley should be appointed as a director of both Fleetwood Town and Jaymel Ltd, which owned 98% of the club’s shareholding, alongside giving him power of attorney with club voting rights.

"Jamie Pilley was subsequently investigated for a breach of regulations.

"A charge was accepted and by way of an agreed decision - applied under EFL regulations – Mr Jamie Pilley has been handed a three-month suspended ban to act as a club director."

Despite this, the club said that the proposed acquisition has satisfied the requirements , external of the league's Owner's and Directors' Test.
https://www.bbc.co.uk/sport/football...s/cyjjed4l0p9o

So, Jamie hasn't committed any fraud, but he is using the family fortune built upon fraud to run the football clubs?

That is probably an unbelievably stupid question and over simplification, but I would actually like to hear from someone who knows a lot more than me how this works.

Quote:

---

Originally Posted by Acornvilla

So, Jamie hasn't committed any fraud, but he is using the family fortune built upon fraud to run the football clubs?

That is probably an unbelievably stupid question and over simplification, but I would actually like to hear from someone who knows a lot more than me how this works.

---

In one sense, you're right, it stinks.

Otoh, what exactly do you mean by "using the family fortune built upon fraud to run the football clubs"? All we know is that his old man has gifted him football clubs for free; we don't know how much money JP has, or how he came by it; or even if he intends to put any of his money into the clubs (in theory he might be expecting them both to live within their own means).

Quote:

---

Originally Posted by EalingGreen

In one sense, you're right, it stinks.

Otoh, what exactly do you mean by "using the family fortune built upon fraud to run the football clubs"? All we know is that his old man has gifted him football clubs for free; we don't know how much money JP has, or how he came by it; or even if he intends to put any of his money into the clubs (in theory he might be expecting them both to live within their own means).

---

This is it, I know nothing of the man, so he might be independently wealthy. (We all know of wealthy people, who definitely are self made and didn't get any help from their family fortunes and connections :D)

The clubs may be in excellent financial health, but given the investment in Waterford, there's absolutely no way it's turning a profit yet, while almost every English league club is insolvent. They do have a new TV deal coming in over there, so maybe that changes things somewhat.

I do find the idea that dad is just vibing in prison now, basically playing an FM save from afar through his son amusing.

Having said all of this stuff, I do wish Waterford well, and they did seem to make a decent effort to improve areas around the club, not just 1st team investment, I personally hate the whole multi club thing, but it is what it is. Between that and where the money's come from, it dosen't feel like much of a good news story thou.