Seven arrested in relation to 'missing' £10.25m loan to Northampton Town
Last Updated: 14/09/17 12:08pm
Northamptonshire Police have made seven arrests relating to a £10.25m loan to Northampton Town FC.
A police investigation was launched into the missing funds in November 2015 after it was revealed that only a small percentage of the original money - loaned to the club by Northampton Borough Council - had made its way to the stadium builders.
The club eventually defaulted on the loan and were later presented with a winding-up order by HMRC after it emerged they had failed to pay a £166,000 tax bill, an issue eventually resolved when Kelvin Thomas' consortium bought out the owners and settled the debt.
Northants Police confirmed that, as well as the arrests, they have taken more than 500 statements and seized more than 2,100 exhibits.
The statement read: "Northamptonshire Police continue to investigate the complex circumstances of the lending, use, and loss of £10.25 million of public money which was set aside for the redevelopment of Sixfields Stadium, the home of Northampton Town FC.
"To protect the integrity of this large financial investigation we do not routinely comment on the work ongoing, however, we recognise that this must be balanced against the understandable public interest.
"As part of 700 separate lines of inquiry we continue to investigate and analyse the results of thousands of financial transactions, relating to allegations of theft and fraud, bribery, misconduct in public office and electoral offences.
"To date, this has resulted in over 500 statements and reports being produced and more than 2,100 exhibits being seized.
"With the strict legal time limitations on how long an arrested person can remain in police custody or on bail, it often better serves the investigation of complex matters for interviews to be conducted voluntarily, but under caution.
"To date, this investigation has resulted in the arrest of seven individuals from across the country, with a further nine interviewed at length under caution.
"It is envisaged the investigative activity will continue for some months yet and so, at this stage, it is not appropriate to comment further on the nature of the interviews or the identity of those interviewed.
"As a prosecution decision file will only be submitted to the Crown Prosecution Service at the conclusion of the investigation, at this time no inference should be drawn from the interview of any individual."
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