Date:Friday September 19 2008
The proposed takeover of Wednesday by a consortium led by Geoff Sheard has taken another twist today with the revelation of the involvement of a convicted money launderer.
Richard Francis Downes, imprisoned in 2002 for conspiracy to launder hundreds of thousands of dollars, is the man responsible for producing a letter in the name of an offshore bank in Dominica to provide proof of funding for the takeover.
Downes, originally from Ormskirk, Lancashire, also known as Richard Francis, admitted his involvement with the proposed takeover to the Yorkshire Post, but Sheard denied to have any association with him.
And Wednesday also confirmed that Downes' name was used by Sheard when he started negotiations earlier this year.
Downes, now based in Alicante and refused entry back in to the USA unless permission is granted from the Attorney General, also revealed that he'd looked in to investing in Chester City and promised to help the club to the heights of the Championship using funding from the Private Capital Bank in Dominica - the same bank being used with the Owls' takeover.
Sheard used the letter as proof of funding for the Owls' four main shareholders, former chairman Dave Allen, fans' group Wednesdayite, Geoff Hulley and Keith Addy.
All four had agreed to sell their shares should Sheard's backers come up with the promised money and have it legally verified, although Sheard later revealed that it was just a means of 'getting a foot in the door' when confronted by the Yorkshire Post that PCB was not an operational bank, and claims that Sheard knows the bank's owner appear to be false.
The promised takeover at Hillsborough now appears to be at a critical stage - with Sheard's hopes of invesment appearing to be at fading fast.
Date:Friday September 19 2008
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Audio - Carvalhal`s and Lees Speak After Owls Beat St Mirren (Sunday August 2 2015)
Audio - Ex-Wednesday Winger Maguire - 'Why I Left S6' (Sunday August 2 2015)
Tom Lees Comments After Signing Four-Year Owls Contract (Saturday August 1 2015)
Video - Wednesday's New Forward Joao - Who Are Ya? (Saturday August 1 2015)
Striker Vaz Te On Wednesday Radar? (Saturday August 1 2015)
Wednesday 2015/16 Squad Numbers Revealed (Friday July 31 2015)
Striker Joao Transfer To Wednesday Confirmed (Friday July 31 2015)
Tom Lees Signs Contract Extension (Friday July 31 2015)
Ex-Wednesday winger Maguire Comments on Leaving S6 and Fans (Thursday July 30 2015)
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