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Theft?


PVTony

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If Miller and Deakin have remortgaged Vale Park for £300,000 and then TAKEN the money for themselves to spend on shares they will have taken the money for their own use.

I consider this as stealing. It is simply fraud and theft.

 

If I am correct in assuming this shouldn't Deakin not be able to work his notice but be fired for theft along with Miller.

 

Also, shouldn't court proceedings be taking place to sue them for the £300,000 and everthing else they have taken from the club since they deceived the shareholders into voting them onto the committee?

 

It would be only right for these two to be made to return what they have taken from the club and then be imprisoned.

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If Miller and Deakin have remortgaged Vale Park for £300,000 and then TAKEN the money for themselves to spend on shares they will have taken the money for their own use.

I consider this as stealing. It is simply fraud and theft.

 

If I am correct in assuming this shouldn't Deakin not be able to work his notice but be fired for theft along with Miller.

 

Also, shouldn't court proceedings be taking place to sue them for the £300,000 and everthing else they have taken from the club since they deceived the shareholders into voting them onto the committee?

 

It would be only right for these two to be made to return what they have taken from the club and then be imprisoned.

 

Dont think they can remortgaged then use money to buy there own shares?

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If they borrowed the money simply to keep the wolf from the door, how much time would that buy them, a couple of months at most? What then?

 

Were they under any obligation to inform shareholders of this loan?

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The thread on PVO suggests another alternative, that the loan is a short term one used to prove that the money for the shares has gone into the bank. Once the "proof" is shown to the media, the loan is repaid.

 

Still all sounds very dodgy to me, if that is the real reason for this.

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I think that the situation will be stood on it's head if the other board members agreed to the re-mortgage. Lets hope that this is not the case and then legal action may be the answer. I honestly don't know and no one else seems to know either.

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With the fat wage these 2 alone were/are drawing, with gates of 3,700 and dropping, with remortgages etc, it can only be weeks [Days even], before administration? Quite strange when only a couple of months back the peroxide ***** was telling us we had record corporate/advertising investment, even WITHOUT the infamous 8 millions!?

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I think it is best to leave the sumising untill we find out what has happened to the money; with all the digging at the moment it is bound to be revealed in all its glory. :yes:

 

I agree - there are far too many guesses as to what the money was used for and who actually borrowed it - as far as I can work out, for the loan to have been taken out legally by the company, and secured against its only realisable asset (the ground) it would presumably have had to be agreed at board level - and minuted as such. The board minutes may or may not be something we, as shareholders, are entitled to see at this stage, but they will presumably have to record who made the decision to take out the loan.

 

I think we all ought to stop speculating until we know for sure - it's not helpful at this point!!

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Magic Flask,maybe you are correct in saying it is not helpful to speculate but what is not speculation is that the ground has been re-mortgaged and Vale can ill afford to pay back the loan which will only lead to the inevitable I'm afraid.As an aside we have only Bratt's word that it is only 300k.:(

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What concerns me is that if things are as bad or worse than we are all speculating.

 

There's obviously some serious financial wrong doings at the club that have been covered up,

 

The last time I can remember this happening to a club it was with Luton Town who got hounded out of the FL and are yet to return.

 

Dean.

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But without any clarification from the Board, what else are the supporters supposed to do?

 

Do you seriously think we're going to get any clarification from them? I think it's about as likely as the Ayatollah Khomeini becoming Pope.......

 

I'm not in any way suggesting we ought to let things drift, or let them do anything else - just that there's no point speculating about what may or may not be going on - and who was or wasn't involved - we need to actually find out!!!!!

Then we can well and truly nail them - and I want them gone !!All of them!!

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Magic Flask,maybe you are correct in saying it is not helpful to speculate but what is not speculation is that the ground has been re-mortgaged and Vale can ill afford to pay back the loan which will only lead to the inevitable I'm afraid.As an aside we have only Bratt's word that it is only 300k.:(

 

I know....there's no doubt about the remortgage - I'm very aware that's been done, and I agree totally that it's not what we want or need - but there are so any rumours flying around about who is doing what and why - and we need to find out what the real situation is. That was all I meant.

 

I agree that it's very scary that we don't know the actual amount involved - and that we only have the word of someone we don't trust as to how much it is!!

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The Supporters Club are doing a fantastic job and I feel sure that they will soon enlighten us on the situation.

 

The terrible duo and hopefully the other two who must have cooperated with them, or at least known what they were up, to will soon be a none existant thorn in the flesh.

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