A sorry tale

Talk about other football teams at all levels. AND ANY Glos City related threads, even if talking about the groundsharing.

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paperboy
Posts: 3383
Joined: 05 Jul 2011, 22:56
....on TV tonight of wealthy young footballers who appear to have been taken for a ride and are paying the price now.

BBC News - Premier League players lost millions in investments - BBC Sport
https://www.bbc.co.uk/sport/football/ar ... 7jn722rkeo
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asl
Posts: 7609
Joined: 20 Nov 2009, 09:37
Rod Wallace wrote:net worth at one point was £1.9m. By February 2024, he was declared bankrupt.

"We live in Surrey," he said. "It's been a good place to live but we have to move on now because of an eviction notice, nothing in the bank. We won't have anywhere to live."
Net Worth of £1.9m - and he was renting???? I guess the eviction notice could have been from his mortgage provider, but it read to me like he was renting. Stone me...
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Shade
Posts: 19133
Joined: 27 Sep 2010, 13:02
Location: Cheltenhamshire
asl wrote: ↑02 Sep 2025, 09:23
Rod Wallace wrote:net worth at one point was £1.9m. By February 2024, he was declared bankrupt.

"We live in Surrey," he said. "It's been a good place to live but we have to move on now because of an eviction notice, nothing in the bank. We won't have anywhere to live."
Net Worth of £1.9m - and he was renting???? I guess the eviction notice could have been from his mortgage provider, but it read to me like he was renting. Stone me...
You missed the bit where it said declared bankrupt in 2024, so he’d have already lost/sold any property and gone into rented, where he’s now being evicted from.

The 1994 Premier League goal of the season winner, homeless.
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RS1978
Posts: 355
Joined: 26 Mar 2010, 17:29
Shade wrote: ↑03 Sep 2025, 11:08
asl wrote: ↑02 Sep 2025, 09:23
Rod Wallace wrote:net worth at one point was £1.9m. By February 2024, he was declared bankrupt.

"We live in Surrey," he said. "It's been a good place to live but we have to move on now because of an eviction notice, nothing in the bank. We won't have anywhere to live."
Net Worth of £1.9m - and he was renting???? I guess the eviction notice could have been from his mortgage provider, but it read to me like he was renting. Stone me...
You missed the bit where it said declared bankrupt in 2024, so he’d have already lost/sold any property and gone into rented, where he’s now being evicted from.

The 1994 Premier League goal of the season winner, homeless.
Young promising footballers with loads of cash get taken advantage of - again? They probably didn't get that much monetary advice when they were young, and trusted financial advisers who disappeared when their investments went south. As the footballers signed papers to prove their investments and ownership, now the HMRC is after them for unpaid tax?

Investments carry risk - and their value/income from them can go down as well as up - but these guys have learnt this the hard way.
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Red Duke
Posts: 2140
Joined: 20 Nov 2009, 09:15
Location: North West
The worse bit was that the Police know they are victims of fraud but have insufficient evidence to convict. So HMRC is pursuing them for the unpaid tax rather than the fraudsters.
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Ihearye
Posts: 4895
Joined: 05 Jan 2018, 08:08
Red Duke wrote: ↑08 Sep 2025, 20:58 The worse bit was that the Police know they are victims of fraud but have insufficient evidence to convict. So HMRC is pursuing them for the unpaid tax rather than the fraudsters.
Standard HMRC practice. Much akin to the 'Loan scandal'. The companies that sold and advised on the schemes (and made millions), were fined 15% of the tax owed, while the individuals who fell foul of it are being pursued for 100%. Resulting in pensions being raided, property impacted and multiple suicides. That is HMRC for you
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Red Duke
Posts: 2140
Joined: 20 Nov 2009, 09:15
Location: North West
Ihearye wrote: ↑16 Sep 2025, 15:38
Red Duke wrote: ↑08 Sep 2025, 20:58 The worse bit was that the Police know they are victims of fraud but have insufficient evidence to convict. So HMRC is pursuing them for the unpaid tax rather than the fraudsters.
Standard HMRC practice. Much akin to the 'Loan scandal'. The companies that sold and advised on the schemes (and made millions), were fined 15% of the tax owed, while the individuals who fell foul of it are being pursued for 100%. Resulting in pensions being raided, property impacted and multiple suicides. That is HMRC for you
As always, the uneven hand of the law in the UK. Pursue the easy ones and give up on those who know people in high places.
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