Stadium development company investigated for misappropriated funds

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A development company currently under investigation for missing funds – meant for a revamp of English soccer club Northampton Town’s stadium – reportedly spent £36,000 (US$47,000) on tickets and hospitality for a Premier League game, reports the BBC.

The report shows that 1st Land Ltd spent the money on a Tottenham Hotspur FC game. Funds from Northampton Borough Council were given to the soccer club for redevelopment of the East stand at Sixfields stadium, but the works were never completed – a large portion of those funds were passed to 1st Land Ltd.

It should be noted, however, that the BBC report does not claim a link between the missing funds and the Premier League expenditure. Investigations into the development company are ongoing.

September 22, 2016

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