Oxford Cty

Anything yellow and blue
Hog
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Re: Oxford Cty

Post by Hog » Sat Dec 12, 2015 10:02 pm

Looks like the chickens are finally coming home to roost!

I wonder if the Mail will dare to cut and paste?

http://www.sun-sentinel.com/news/fl-fra ... story.html

www.marktpuls.ch/artikel/permalink/148882

http://www.mondovisione.com/media-and-r ... ock-fraud/

wealthmanagement.com/blog/sec-goes-after-soccer-club-owner-fraud

Myles Francis
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Re: Oxford Cty

Post by Myles Francis » Sat Dec 12, 2015 11:48 pm

Looks as though the club is still in denial about what is actually going on though....

http://www.pitchero.com/clubs/oxfordcit ... iQ.twitter

Kernow Yellow
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Re: Oxford Cty

Post by Kernow Yellow » Sun Dec 13, 2015 10:14 pm

Myles Francis wrote:Looks as though the club is still in denial about what is actually going on though....

http://www.pitchero.com/clubs/oxfordcit ... iQ.twitter
Well I'd probably be feeling pretty ill if I'd just been nicked for multi-million pound fraud!

What does it all mean for City though? Can they just carry on with business as usual?


Mooro
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Re: Oxford Cty

Post by Mooro » Tue Dec 15, 2015 12:44 am

Middle one seems to be the most significant for most people this side of the pond, in that it appears that the original club is relatively secure from crisis in that the family silver was kept away from TAG and under lock and key. Maybe I'm reading it wrong, but it now reads that he was only using the club's name and mere existence, rather than any actual assets, for his activities in the US, which if is the case will hear a huge sigh of relief from all over the county...and (if they are able to manage the exit from the TAG era successfully) it could be said that in the end some people at the real OCFC have been quite clever in using TAG to get themselves up the ladder but without jeopardising their own existance....

Mooro
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Re: Oxford Cty

Post by Mooro » Tue Dec 15, 2015 10:16 am

Another interesting article on this - http://twohundredpercent.net/?p=28559

Kernow Yellow
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Re: Oxford Cty

Post by Kernow Yellow » Tue Dec 15, 2015 1:39 pm

Didn't TAG have a 49% stake in the football club though? How has that been resolved? Has he just forfeited it by resigning?

Hog
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Re: Oxford Cty

Post by Hog » Tue Dec 15, 2015 10:56 pm

There's more! Lots more!

Here's the indictment (but you'll need a couple of hours to get through it!)

http://www.sec.gov/litigation/complaint ... 15-278.pdf

Old Abingdonian
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Re: Oxford Cty

Post by Old Abingdonian » Wed Dec 16, 2015 12:28 pm

What is so shocking here is that, as with the FIFA situation on an entirely different scale, everyone can see rank corruption, but those with the oversight of the game do nothing.

Is this because in effect they lack the power / opportunity to intervene, because their snouts are in the trough, or because football (which is awash with money anyway) can't resist any opportunity to bring more money in?

Anyway, it's great news if OCFC and its supporters have not been harmed by this episode.

slappy
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Re: Oxford Cty

Post by slappy » Wed Dec 16, 2015 12:52 pm

From the last set of accounts (10-Q filed 23 Nov 2015)

"At September 30, 2015 and June 30, 2015, $249,717 and $256,340 respectively, is due Colin Taylor, the managing director of the Oxford City Football Club (Trading) Limited, a subsidiary of the Company. The advances are non-interest bearing, unsecured and due on demand.

On September 25, 2015, the Company recorded $2,000,000 in stock-based fees for services provided by Colin Taylor in exchange for a common stock payable of 2,000,000 shares of common stock valued at $2,000,000 ($1.00 per share)."

The first one is shown in the accounts as due to related parties. So CT is (or was) owed $256K by Oxford City Inc. It's not clear what he is owed this for.

The second I wouldn't even like to comment on.

I'm sure there was also a note a few years back that the football club accepted shares in OXFC INC as payment.

I had thought the football side of things was ringfenced, but to the extent that the club has accepted shares in OXFC INC, that's got to be worthless. I hope TAG hasn't managed to sign the club up to any commitments they can't afford.

slappy
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Re: Oxford Cty

Post by slappy » Wed Dec 16, 2015 8:40 pm

No comments then? Obviously be careful of anything libellous.
But it appears that Colin Taylor is owed around USD 250k by oxford city inc. and if the oxford city inc accounts bear any relation to reality, as recently as September the company declared fees to him of USD 2 million, but paid in shares of the company which are I guess worthless based on the latest SEC report posted above.

Kernow Yellow
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Re: Oxford Cty

Post by Kernow Yellow » Thu Dec 17, 2015 11:08 am

slappy wrote:No comments then? Obviously be careful of anything libellous.
But it appears that Colin Taylor is owed around USD 250k by oxford city inc. and if the oxford city inc accounts bear any relation to reality, as recently as September the company declared fees to him of USD 2 million, but paid in shares of the company which are I guess worthless based on the latest SEC report posted above.
Snake has alluded to Taylor's personal financial liability in the affair previously. This appears to corroborate that. As to the second part (the $2m shares fee), I don't really understand what it means.

slappy
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Re: Oxford Cty

Post by slappy » Thu Dec 17, 2015 1:03 pm

Yes - I remember Snake saying that CT was owed money. That second point though, seems to suggest that OXFC INC was paying CT $2million dollars "worth" of OXFC INC shares in September as some sort of 'fee for services'. I wonder what this was for?

The bizarre thing about the OXFC INC accounts is they seemed to be drawn up correctly (i.e. showing very little income, huge increases in shares issued, huge remuneration for TAG), even though the forward forecasts were absolute rubbish. So why would this fee for services be in the OXFC accounts if it hadn't been intended to happen?

Hog
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Re: Oxford Cty

Post by Hog » Mon Dec 21, 2015 11:15 pm

Things are ticking along now - looks like he's banged up for xmas!

http://www.sun-sentinel.com/local/palm- ... story.html

I wonder if the Oxford Fail will cut and paste any of that? I bet they won't cut and paste much of this one ...

http://www.nakedcapitalism.com/2015/12/ ... riero.html

(I have to admit having to google onanistic!)

slappy
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Re: Oxford Cty

Post by slappy » Tue Dec 22, 2015 10:49 am

I'm surprised nobody on the Oxford City message board have picked up on the two million dollar fee purportedly 'paid' to Colin Taylor. Just what was his involvement in OXFC INC?

Was anyone in the UK buying shares in OXFC INC?

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