The man who used the services of a convicted criminal in an attempt to take over Sheffield Wednesday has been bankrupt.
Geoff Sheard’s bid for the club was fortified using the services of a convicted money launderer. Mr Sheard used a fake letter from an offshore Caribbean bank in his bid for Sheffield Wednesday, and is also suspected to have fronted a bid to take over Newcastle United.
In 2008, after it was revealed by the Yorkshire Post that a bank letter sent to Sheffield Wednesday claiming that Mr Sheard had 100 million euros available for investment was fraudulent – it had in fact been produced by criminal financier Richard Frank Downes, Sheard’s involvement with the club bid came to an abrupt halt.The Dominican Republic bank which was said to hold the funds for the Sheffield Wednesday takeover was not in fact operational.Not long after this incident, it was uncovered that Mr Sheard had also been taken to court over a string of personal debts. A series of county court judgements included a number of charges on Mr Sheard’s former home near Lancaster. It is understood that the residence has since been repossessed, The Yorkshire Post reports. It was in fact after these revelations that Mr Sheard was reported as having been the front man in a failed bid to take over Newcastle United. It has now been revealed that Mr Sheard filed a bankruptcy application in Application. The order was then made at Lancaster County Court. It is not known how many creditors were affected by the bankruptcy, but it is expected that Mr Sheard’s debts run into several hundreds of thousands of pounds. The bankruptcy is due to be discharged 12 months after the date of the original order, pending the outcome of inquiries by the Insolvency Service.Apprentice star's secret debts revealed
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