Returning ram Posted February 27 Share Posted February 27 26 minutes ago, sage said: How did he make that money with a company with such a small turnover. He got those funds from Goldman Sachs as an investment in his company. He blindsided the financial director and moved the company money into his own account. That was never going to work in the long term. I fail to see how he thought he would ever get away with it. He did, from what I have read from the case notes, his downfall was he didn't leave enough in reserve to pay his company's salary. Had he done that, in theory would have anyone been any of the wiser. Maybe he was using us an investment vehicle, but doesn't make sense because football clubs don't generate cash. I'm guessing he must have had a plan, because the commodities he bought / tried to buy were bizzare purchases, although maybe he was trying to get a persona to generate even more investment. His fraud was quite small compared to some over the years, Lurkin coffee being one of my favourite's and an example of how you can cover your tracks. I expect when his case is finally over he will be used as a case example so that should shed more light. Link to comment Share on other sites More sharing options...
sage Posted February 27 Share Posted February 27 36 minutes ago, MadAmster said: That's what I've thought about it too. Did he simply not look forward? Did he think he'd never get caught? Did he think a year, maybe 2, of a life of luxury "Walter Mitty" life would compensate for spending the rest of his life behind bars? We'll never know. Exactly. People who do this kind of thing must surely have an exit strategy. False identity and a caravan somewhere exotic like Cleethorpes. richinspain 1 Link to comment Share on other sites More sharing options...
Elwood P Dowd Posted February 27 Share Posted February 27 30 minutes ago, MadAmster said: That's what I've thought about it too. Did he simply not look forward? Did he think he'd never get caught? Did he think a year, maybe 2, of a life of luxury "Walter Mitty" life would compensate for spending the rest of his life behind bars? We'll never know. Did he think he’d never get caught?? That’s an interesting question, I think he probably started off taking relatively small amounts of money and then began to regard the loan money as his own. Link to comment Share on other sites More sharing options...
duncanjwitham Posted February 27 Share Posted February 27 I suspect it was mostly delusion - "we'll be making so much money soon that nobody will notice a few missing millions, or I can just pay it back with all the money I'll be making too". And it caught up with him before they ever made those millions (if they ever were going to...). In terms of Quantuma cutting him off earlier, can you *imagine* the firestorm that would have kicked off in the fanbase, and at the EFL, if Kirchner had gone on TV or Radio Derby and announced that he had the money to save Derby, but Quantuma won't speak to him? Goldman-Sachs backed, current sponsor of a big golf tournament and an NHL team, passed the EFLs tests, Rooney and co on board etc, the lynching parties would have been starting in minutes. GB SPORTS 1 Link to comment Share on other sites More sharing options...
richinspain Posted February 27 Share Posted February 27 51 minutes ago, sage said: Exactly. People who do this kind of thing must surely have an exit strategy. False identity and a caravan somewhere exotic like Cleethorpes. I made all my money from a football forum, honest. Link to comment Share on other sites More sharing options...
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