Holloway on the local Bristol newspaper

From Alex May's statement....

"Fit and Proper Persons Test as set by the EFL preclude me from being a director. Notwithstanding that I would like to acquire some shares in the club and help its relocation plans to come to fruition and understand that will be a matter for the club’s board of directors."

Quoted from Fillipe Noche

I’m surprised the fans aren’t publishing videos asking the consortium to pay John Fenty’s loans off up front, as well as questioning why they can’t ?

Am I the only person that is also curious how the consortium is going to pay the three instalments?

Will this be through money they are going to introduce into the business from their personal wealth?

Loans that they require repaying maybe?

Do they expect GTFC to generate the financial means to make these payments?

Interesting times

Quoted from Fillipe Noche

I’m surprised the fans aren’t publishing videos asking the consortium to pay John Fenty’s loans off up front, as well as questioning why they can’t ?

‘Can’t’ or ‘Won’t’. ??  Makes sense to spread out the payments if possible. That’s probably why they are so successful.
And I didn’t say JF wasn’t hounded out. Just that IH came across as if it was a bad thing. Strangely enough, the man who normally gobs off in spades omitted to say why this happened.
And if I thought I played a part in ‘hounding out JF I would sleep very soundly indeed 😄

Quoted from Fillipe Noche

You fail to realise that nowhere in his interviews, or in Phil’s, was it confirmed that his investment was going to be in GTFC shares

It was investment in the town, in state of the art training facilities. That did not have to be GTFC as the owners of the facility, merely as chief users of the facility in which he invested in and got ROI.

So a fraudster sets up a training facility and GTFC are the biggest customer?

May said he wanted to invest in the football club as he’s looked at a couple before Town, also these days a million arguably won’t get you “state of the art” as that “art” is pretty high level when you look at the top end of the game.

In terms of JF getting “hounded out” all I can say is what cones around goes around and despite Day’s assertions that a small part of the fan base was dissatisfied he was wrong.

Quoted from Fillipe Noche

There’s nothing to suggest that his current wealth is a result of ill gotten gains.

Neither is there anything to suggest the £1 million was going to be invested by way of GTFC share purchase.

See above

I might feel reassured if that statement came from a forensic accountant. Please stop insinuating that the board had taken the moral high ground.,had not some concerned person been so appalled by what was going on and tipped the press off,and forced the Club's hand they would have happily gone ahead with the transaction.
Do you think it is morally acceptable to accept a large amount of money from a man convicted of defrauding financial institutions out of millions,do you not think this money should not have gone to make reparation.

Quoted from GollyGTFC

[url]https://www.grimsbytelegraph.co.uk/sport/football/football-news/alex-may-grimsby-town-shares-4795647[/url]

And here's more proof. Alex May's statement to the Grimsby Telegraph. Which again says his investment would have been in a share purchase.

Oh hell, if I was a board member I’d have known that. What a foolish fraud I must look now 😉

Quoted from friskneymariner

I might feel reassured if that statement came from a forensic accountant. Please stop insinuating that the board had taken the moral high ground.,had not some concerned person been so appalled by what was going on and tipped the press off,and forced the Club's hand they would have happily gone ahead with the transaction.
Do you think it is morally acceptable to accept a large amount of money from a man convicted of defrauding financial institutions out of millions,do you not think this money should not have gone to make reparation.

I’m sure the law will have exercised its powers in respect of Mr Mays bank accounts and assets once convicted. I doubt they would have left him with anything that wasn’t rightfully his.

Fillipe Noche,

Can I ask, would you have preferred John Fenty to have stayed over the new consortium? If so, why?

Sorry if this has been covered previously... direct me to it if so!

People also seem to have missed the terminology Mr May used in terms of the investment.

He was at pains to point out that he looks after investments on behalf of others. In a sense like a broker or a driver for investors.

Was it his own money he was investing? Or was he in the business of placing investments on behalf of others ?

Quoted from Fillipe Noche

I’m sure the law will have exercised its powers in respect of Mr Mays bank accounts and assets once convicted. I doubt they would have left him with anything that wasn’t rightfully his.

As long as all of his dodgy dealings had come to light!