""This was not a case of greed or bad decisions,""
""These men did what we ask of everyone - they saved for their futures, trusted regulated professionals and followed advice they believed was sound.""
""We believe that these victims have been failed by not only their advisers but also the financial services sector, by regulatory and law enforcement bodies, by HMRC, and by the football industry.""
""At all times Kingsbridge advised in good faith and set out the risks and opportunities both before and after any investment was agreed.""
Eleven former Premier League players invested with Kingsbridge Asset Management in the 1990s and 2000s and lost tens of millions, with some now owing millions in tax and others facing bankruptcy or home loss. Up to 200 footballers may have been affected. City of London Police opened an investigation in 2018 and closed it in 2020 citing insufficient evidence for a realistic prospect of conviction. Kingsbridge executives denied wrongdoing and asserted investments were advised in good faith with risks and opportunities explained. Cross-party parliamentarians called the situation a failure of regulation, accountability and duty of care and demanded a thorough investigation and a fair, timely resolution to the tax dispute.
Read at www.bbc.com
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