The Administration Thread

[IslandExile]

4 minutes ago, BramcoteRam84 said:

From what I’ve heard Nixon is right in that the money still hasn’t landed. Appleby is next in line, still not interested in talking to MA but not for the want of trying from MA, the £28m is what he put on the table in Jan, he also said he’d raise it if outbid. Can only assume his proposal isn’t good for creditors.

So looks like a race between CK and Appleby. Not normally ITK and so much info flying around just sharing what I’ve heard. It’s also v interesting who Appleby’s backer is if my source is correct. 
 

Weren't the stories at the time of Ashley's first expression of interest that he wanted the stadium, leaving little for the creditors and he's refuse to pay anything to the Administrations?

Appleby's backer.....Mel?

[BramcoteRam84]

1 minute ago, IslandExile said:

Weren't the stories at the time of Ashley's first expression of interest that he wanted the stadium, leaving little for the creditors and he's refuse to pay anything to the Administrations?

Appleby's backer.....Mel?

No not mel

[Ram1988]

21 minutes ago, BramcoteRam84 said:

From what I’ve heard Nixon is right in that the money still hasn’t landed. Appleby is next in line, still not interested in talking to MA but not for the want of trying from MA, the £28m is what he put on the table in Jan, he also said he’d raise it if outbid. Can only assume his proposal isn’t good for creditors.

So looks like a race between CK and Appleby. Not normally ITK and so much info flying around just sharing what I’ve heard. It’s also v interesting who Appleby’s backer is if my source is correct. 
 

Who is Appleby's backer?

[PistoldPete]

22 minutes ago, angieram said:

I did say that was probably the issue yesterday.

It's the establishment casting aspersions on something outside their control, as usual.

I'd like to bet there's even more money-laundering going on with real money and we all know how good the establishment is at preventing that! 

Yeah banks won't like crypto because they want to control money for their own use.

Edited June 9, 2022 by PistoldPete

[PistoldPete]

30 minutes ago, RoyMac5 said:

https://blog.chainalysis.com/reports/2022-crypto-crime-report-preview-cryptocurrency-money-laundering/

 

"Overall, cybercriminals have laundered over $33 billion worth of cryptocurrency since 2017, with most of the total over time moving to centralized exchanges. For comparison, the UN Office of Drugs and Crime estimates that between $800 billion and $2 trillion of fiat currency is laundered each year — as much as 5% of global GDP. For comparison, money laundering accounted for just 0.05% of all cryptocurrency transaction volume in 2021. We cite those numbers not to try and minimize cryptocurrency’s crime-related issues, but rather to point out that money laundering is a plague on virtually all forms of economic value transfer, and to help law enforcement and compliance professionals be aware of just how much money laundering activity could theoretically move to cryptocurrency as adoption of the technology increases."

I cannot believe he wouldn't be aware that MLA would want to look at the source of his funds. Fine he says it was to hurry things up, but he's known for some time he's buying the Club.

He has known he wanted to buy the club for some time, so has Quantuma and the EFL. Nobody can be free from blame if they are seriously saying they hadn't thought this might be a problem.  

[Barney1991]

Issue is how long to the admins wait. Looking at it these checks could take days, weeks or even months and we need it now. Could be waiting till next week or could drop tomorrow or not even this month. Best case scanario drop the exclusivity let someone have a go of his funds clear happy days 

[Woodley Ram]

19 minutes ago, PistoldPete said:

Yeah banks won't like crypto because they want to control money for their own use.

he is not transferring Crypto. I have just listened to the Alan Nixon on talksport and that was interesting.  The issue with CK is that he is transferring an amount larger than anything he has done before (red flag) and from the US to a country he probably has never transferred to before (red flag).

I would imagined a compliance officer of a US bank has made a SAR (suspicious activity report) to the FinCen (the US money laundering reporting establishment). In the UK we would send our SAR to the NCA (National Crime Agency).

The issue with this is that your bank transfer is blocked for a period (short) of time to allow an investigation. It will then be released. If you ever have a payment that is held up by a bank for about 5 days then that is what has probably happened.

Also it is a criminal offence to tell your client (CK) if you have made a SAR, so he will be well frustrated.

If it hasn't gone to the FinCen then the release should be quicker as the bank will be asking for potential proof of where his funds have come from and where they are going.  

The US banks are amongst the most stringent in the world due to the large fines given out by US regulators.

I think we just need to be patient as I'm not sure how much CK can tell us.

[Premier ram]

1 hour ago, RoyMac5 said:

How could you not be concerned about where his money is from when cryptocurrency (at some time in the past) is involved? Then you hear that he's tried to avoid anti-money laundering checks? Don't tell me I'm putting a negative slant on that. It speaks for itself. 

               RoyMac putting a negative slant on things??                                            

                                                    

[cstand]

7 minutes ago, Barney1991 said:

Issue is how long to the admins wait. Looking at it these checks could take days, weeks or even months and we need it now. Could be waiting till next week or could drop tomorrow or not even this month. Best case scanario drop the exclusivity let someone have a go of his funds clear happy days 

The clock is ticking like a time bomb reading to off, I think we have all been patient enough we simply can’t keep giving CK more Fergie time. Hopefully it will all go through today, but Q have to look at other alternatives.

[Premier ram]

1 hour ago, RoyMac5 said:

https://blog.chainalysis.com/reports/2022-crypto-crime-report-preview-cryptocurrency-money-laundering/

 

"Overall, cybercriminals have laundered over $33 billion worth of cryptocurrency since 2017, with most of the total over time moving to centralized exchanges. For comparison, the UN Office of Drugs and Crime estimates that between $800 billion and $2 trillion of fiat currency is laundered each year — as much as 5% of global GDP. For comparison, money laundering accounted for just 0.05% of all cryptocurrency transaction volume in 2021. We cite those numbers not to try and minimize cryptocurrency’s crime-related issues, but rather to point out that money laundering is a plague on virtually all forms of economic value transfer, and to help law enforcement and compliance professionals be aware of just how much money laundering activity could theoretically move to cryptocurrency as adoption of the technology increases."

I cannot believe he wouldn't be aware that MLA would want to look at the source of his funds. Fine he says it was to hurry things up, but he's known for some time he's buying the Club.

                 

                                                                           And still he goes on

[RadioactiveWaste]

3 minutes ago, Woodley Ram said:

he is not transferring Crypto. I have just listened to the Alan Nixon on talksport and that was interesting.  The issue with CK is that he is transferring an amount larger than anything he has done before (red flag) and from the US to a country he probably has never transferred to before (red flag).

I would imagined a compliance officer of a US bank has made a SAR (suspicious activity report) to the FinCen (the US money laundering reporting establishment). In the UK we would send our SAR to the NCA (National Crime Agency).

The issue with this is that your bank transfer is blocked for a period (short) of time to allow an investigation. It will then be released. If you ever have a payment that is held up by a bank for about 5 days then that is what has probably happened.

Also it is a criminal offence to tell your client (CK) if you have made a SAR, so he will be well frustrated.

If it hasn't gone to the FinCen then the release should be quicker as the bank will be asking for potential proof of where his funds have come from and where they are going.  

The US banks are amongst the most stringent in the world due to the large fines given out by US regulators.

I think we just need to be patient as I'm not sure how much CK can tell us.

I think the crypo aspect being discussed is provenance of the money - we all assume he's transferred $usd (or possibly £) - cK claims he got his wealth by early investment in bitcoin (I think).

 

[Eatonram]

3 minutes ago, cstand said:

The clock is ticking like a time bomb reading to off, I think we have all been patient enough we simply can’t keep giving CK more Fergie time. Hopefully it will all go through today, but Q have to look at other alternatives.

Seems to me that in the assessment of both the Admins and the EFL, the CK bid still has the most realistic chance of reaching a successful conclusion, otherwise the (supposed) imminent end of exclusivity would have ended.

If anyone can come up with a more likely realistic theory....feel free to share.

[Phoenix]

No-one seems to question where Forest get their money from.

[Barney1991]

3 minutes ago, Eatonram said:

Seems to me that in the assessment of both the Admins and the EFL, the CK bid still has the most realistic chance of reaching a successful conclusion, otherwise the (supposed) imminent end of exclusivity would have ended.

If anyone can come up with a more likely realistic theory....feel free to share.

Defo Ashley won’t be taken seriously unless he matches ck’s bid which he’s had Numerous chances to do. Before the first extension of exclusivity his bid was turned down again and they extended ck by a week I think. He needs to put in writing the same bid or just go away and stop wasting everybody’s time. 

[ColonelBlimp]

Well, I'm all in for the Kirch.

It's going to happen, say goodbye to your misery, your negativity; Wave away thoughts of Mike Ashley or Andy Appleby or string-pulling Mel.

100% behind him.

 

(Chris, if you read this, I never wavered once, honest)

 

[tomsdubs]

7 minutes ago, Phoenix said:

No-one seems to question where Forest get their money from.

Drug boats, money laundering, successful bribe outcomes and questionable Olympiakos transfers.

[Rambalin]

[i-Ram]

9 minutes ago, Phoenix said:

No-one seems to question where Forest get their money from.

Sale of some kebabs?

[hintonsboots]

[PistoldPete]

17 minutes ago, Woodley Ram said:

he is not transferring Crypto. I have just listened to the Alan Nixon on talksport and that was interesting.  The issue with CK is that he is transferring an amount larger than anything he has done before (red flag) and from the US to a country he probably has never transferred to before (red flag).

I would imagined a compliance officer of a US bank has made a SAR (suspicious activity report) to the FinCen (the US money laundering reporting establishment). In the UK we would send our SAR to the NCA (National Crime Agency).

The issue with this is that your bank transfer is blocked for a period (short) of time to allow an investigation. It will then be released. If you ever have a payment that is held up by a bank for about 5 days then that is what has probably happened.

Also it is a criminal offence to tell your client (CK) if you have made a SAR, so he will be well frustrated.

If it hasn't gone to the FinCen then the release should be quicker as the bank will be asking for potential proof of where his funds have come from and where they are going.  

The US banks are amongst the most stringent in the world due to the large fines given out by US regulators.

I think we just need to be patient as I'm not sure how much CK can tell us.

He isn't transferring crypto but he is transferring cash he has made from cashing in his crypto. So that is another red flag , making three by my reckoning (as you say the other two being the size of the sum and also the transfer being  from US to UK).  Nothing to say it's not legit but how does CK prove it is legit and how long will that take?