MPs want action for footballers who lost millions
Summary
Three parliamentarians are asking for an investigation into financial losses suffered by former Premier League footballers. The footballers lost millions after investing with a company called Kingsbridge Asset Management, with some now facing large tax debts. The parliamentarians believe that the footballers have been let down by their advisors, the financial services sector, and regulatory bodies.Key Facts
- A group of former Premier League footballers invested with Kingsbridge Asset Management and lost millions.
- Some of these footballers now face significant tax liabilities.
- The V11 campaign group consists of 11 footballers seeking changes to protect crime victims from serious tax charges.
- Parliamentarians Lord Mann, Alex Sobel MP, and Sarah Bool MP have requested a thorough investigation.
- Kingsbridge's leaders have denied any wrongdoing, stating they advised clients in good faith.
- Up to 200 footballers may have been affected, with some losing homes or going bankrupt.
- An investigation by the City of London Police was opened in 2018 but closed in 2020 due to insufficient evidence for prosecution.
- There are calls for a leniency package from HMRC for those affected by the investment fallout.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.