Darlington Latest: Reynolds arrested

[On the Left Wing]

Reynolds in custody as police seize cash

FORMER Darlington Football club chairman George Reynolds was last night being held in police custody on suspicion of money laundering.

Police swooped on a car containing Mr Reynolds, 68, former football club director Richard Tennick, 57, and his personal assistant Ian Robinson, 42, as it travelled through High Etherley, near Bishop Auckland, County Durham, yesterday afternoon.

An officer from the Regional Assets Recovery Team, based at Durham Police's headquarters in Durham City, and several other police officers were involved in the operation where they recovered hundreds of thousands of pounds from the vehicle.

All three men were last night being held at Bishop Auckland police station where they were helping with inquiries.

The arrests come only weeks after Mr Reynolds announced he was putting his turbulent times in charge of Darlington Football Club behind him to build a new business in the fashion industry.

He spoke of his plans to open shops selling high class evening wear and lingerie and thus creating a new business for Mr Tennick, who is also his cousin, and Mr Robinson.

It followed months of uncertainty over the club. The Quakers plunged into administration with enormous debts on December 23 with the nightmare ending for supporters and the creditors only last week when Football League bosses approved the Sterling Consortium's takeover of the club.

The backing of the Football League was essential to complete the Quakers' escape from the threat of liquidation which was staved off after a deal was struck between Mr Reynolds and Sterling.

Mr Reynolds' backing meant 88.82 per cent of the vote went in favour of the Sterling-funded company voluntary arrangement (CVA).

He agreed to support the CVA, which offered a total of £150,000 to creditors in exchange for Sterling dropping its pursuit of bankruptcy proceedings against him.

The former Quakers chairman was last grilled about his business dealings in court in January when he gave evidence into the collapse of one of his former companies George Reynolds UK (GRUK).

The County Durham firm went into voluntary liquidation with debts of £4.7m in October 2002.

The public examination of its finances was called by the Official Receiver to help liquidators Deloitte and Touche recoup some money for creditors.

But Mr Reynolds continued to claim he was owed at least £7m from the sale of GRUK to Vertex.

Last night, a spokesman for Durham Constabulary said: "Ican confirm that three men were arrested this afternoon at High Etherley in County Durham on suspicion of money laundering."

He added: "The arrests were made by an officer from the Regional Assets Recovery Team based at police HQ, Aykley Heads, Durham City.

"Hundreds of thousands of pounds were recovered from the vehicle in which the men were travelling.

"The men, one aged 68 and another aged 42 live in the Bishop Auckland area. A third 57-year-old man lives in North Yorkshire."

An application for cash seizure under the Proceeds of Crime Act is expected to be made at Darlington Magistrates Court tomorrow.

 

[mejonaNO12 aka riskit]

 

[On the Left Wing]

Police have confirmed money laundering charges this morning ....

 

[chips and gravy]

Will the Darlington stadium be repossessed to pay for the debts?

 

[On the Left Wing]

Will the Darlington stadium be repossessed to pay for the debts?

The Sterling Consortium (Reynolds creditors) now own it on paper .... but if there is criminal activity who knows what might happen?

Shame the police didn't do a similar job on Bellotti and Archer

 

[fatbadger]

It has always been obvious that Reynolds was not a fit and proper individual to run a football club (sending aroud the heavies to threaten fanzine writers, for instance). This shouldn't really come as a great surprise. Let's hope that this causes no trouble for or at the football club - Reynolds has done quite enough to them already.

The Darlo fans must be ecstatic they have got him out of their lives.

 

[34064 Fighter Command]

What do you expect from a convicted safe-cracker !

 

[007]

Lets hope justice prevails, Reynolds gets his comeuppance and Darlington FC and it's supporters come out unscathed, keep hold of their ground and push on and up the football ladder.

 

[Kinky Gerbil]

 

[FG aka Football Genius.]

 

[On the Left Wing]

BBC Lunchtime News (Tyne and Wear)

The former chairman of Darlington Football Club, George Reynolds, has been arrested in County Durham on suspicion of money laundering.

A Durham Police spokeswoman confirmed reports that Mr Reynolds was arrested with two other men as officers swooped on a car on Monday afternoon.

Police said hundreds of thousands of pounds were recovered from the vehicle in which the men were travelling.

All three men were released on police bail at 2200 BST on Monday.

The police spokeswoman confirmed reports on Tuesday that the arrests were made by an officer from the Regional Assets Recovery Team, based at Aykley Heads police headquarters in Durham City.

The men, one aged 68 and another aged 42 live in the Bishop Auckland area. A third 57-year-old man lives in North Yorkshire, according to police.

An application for cash seizure under the Proceeds of Crime Act is expected to be made at Darlington Magistrates Court on Wednesday.

Mr Reynolds resigned as chairman of the Third Division club in January this year.

 

[Wardy]

Lets hope it does not affect the Darlington fans anymore then it already as.

 

[On the Left Wing]

This morning's update and I suppose the question on most lips is why did he have £500,000 in cash in his car?

Reynolds police seek to keep cash

Police are making an application to magistrates to seize the £500,000 in cash found in a car of the former Darlington football club owner.

George Reynolds and two other men were arrested in County Durham on Monday on suspicion of money laundering.

Police said £500,000 in cash was found the car the men were travelling in.

An application will be made at Darlington Magistrates' Court under the Proceeds of Crime Act to retain the cash while investigations continue.

The men were arrested by officers from the Regional Assets Recovery Team, based at Aykley Heads police headquarters in Durham City.

All three men were released on police bail at 2200 BST on Monday following questioning.

Mr Reynolds resigned as chairman of the Third Division club in January this year.

 

[On the Left Wing]

And the story gets even murkier .... seems he may have stolen the cash from Darlington FC!!!

Today's Northern Echo:

Reynolds' £500,000 'linked to Quakers'

DETECTIVES suspect that £500,000 seized from George Reynolds' car was money laundered from Darlington Football Club, a court heard yesterday.

The cash was recovered by police after they swooped on a vehicle carrying the former Quakers chairman, his cousin Richard Tennick and personal assistant Ian Robinson on Monday in Bishop Auckland, County Durham.

All three were arrested on suspicion of money laundering and questioned by police for seven hours before being released.

Yesterday, Mr Reynolds lost a legal bid to try to get the money returned to him.

Darlington magistrates made an order allowing detectives to keep it for 28 days, rather than the three months they requested, to investigate where it came from.

Detective Sergeant Martin Fleming, from the North-East's Regional Asset Recovery Team, told the court that police were contacted by the Co-operative Bank, in Darlington, last Friday.

Staff were concerned about £800,000 which was credited to Mr Reynolds' account on June 9.

Det Sgt Fleming said he suspected the £800,000 had come from Darlington FC by way of "unlawful conduct".

He told the court: "This is now a money laundering investigation. My suspicion at the moment is that this transaction is based on some unlawful conduct."

But Jamie Hill, barrister for Mr Reynolds, said the money came from Mr Reynolds' solicitor's account and had been paid into that from the personal accounts of two members of the Sterling Consortium - Stewart Davies and Melvyn Laughton.

He said it was payment for Mr Reynolds' house, Witton Hall, in Witton-le-Wear, County Durham, which was being sold to Sterling.

Mr Hill said: "It may well be that the Co-operative Bank, based in Darlington, has put two and two together and come up with five."

Darlington FC went into administration last year with reported debts of more than £20m.

Sterling stepped in as new owner after agreeing a company voluntary arrangement (CVA) with creditors, including Mr Reynolds, which saved it from closure.

But some creditors were unhappy with the settlement and have asked the Department of Trade and Industry to look into the deal, as has the Football League.

Det Sgt Fleming said: "Obviously an important part of the investigation is the circumstances surrounding the CVA and whether the transfer of this amount of money on June 9 has been done lawfully or has it circumvented the CVA.

"We are also looking at the circumstances of the transfer of the cash and whether that forms unlawful conduct."

He said when Mr Reynolds was arrested he told police he was carrying the money to "put it away", that it was connected with a payment from Mr Davies for his house and was to do with Darlington Football Club.

"He further stated there had been a right carry-on and he didn't want the bastards getting their hands on it," said Det Sgt Fleming.

But Mr Reynolds, 67, told the court: "I made it quite plain from day one that it was nothing to do with Darlington Football Club."

He added: "I have sold my house, I have got the money in the bank - I'm entitled to do what I want with that money.

"Is it a crime to spend your own cash? I shouldn't be here at all."

Det Sgt Fleming said it was "in itself suspicious" that Mr Reynolds had withdrawn such a large amount and was carrying it in his car without security.

But Mr Reynolds, who told the court he walked away from the Quakers with only £150,000 from Sterling for his "personal effects", claimed half-a-million pounds was "chicken feed" to him.

An emotional Mr Tennick told the court Mr Reynolds had given him £300,000 of the £800,000 from Mr Davies and Mr Laughton because of the amount he had personally put into Darlington FC.

After the hearing, Mr Reynolds said: "I'm not disappointed. If they keep it (the £500,000) for the month, the interest will pay my legal fees. I know sooner or later I'm going to get it."

Detectives will have to make another application before July 14 if they want to retain the money for longer.

The police made an application to the court that reporting of yesterday's civil proceedings be restricted under the Contempt of Court Act. The bid was rejected by the magistrates after representations from the media.

 

[Icy Gull]

Is there anyway that Darlington will not end up at their new stadium eventually? All a bit hairy at the moment I'm sure but assuming they survive what else are they going to do with the stadium?

 

[Strike]

Serves Reynolds right after he messsed up Darlo.

 

[saltash seagull]

do you remember when he 1st took over at darlo and the press painted him as an ex con who was now there night in shinning armour because he came in and spent a few quid on the team

 

[On the Left Wing]

Brighton, Doncaster, Carlisle, Darlington, Wrexham .... the list is endless ..... when will the Government and the FL and FA enact legislation to protect clubs from self-seeking crooks like Reynolds, Archer, Bellotti, Knighton, Gutterman, Hamilton and Co

 

[Seagull's Return]

Brighton, Doncaster, Carlisle, Darlington, Wrexham .... the list is endless ..... when will the Government and the FL and FA enact legislation to protect clubs from self-seeking crooks like Reynolds, Archer, Bellotti, Knighton, Gutterman, Hamilton and Co

When it's in their own interest to do so... so, probably never, then... it's a f***ing disgrace (pardon my Anglo-Saxon)