Birmingham International Holdings Limited have revealed that they have reported a former employee to the Police after discovering £2.5 million from accounts.
Just how this has managed to happen remains to be seen but the company have explained that the missing money will impact on the operation and financial situation of the group.
Here is the statement made the Hong Kong Stock Exchange
The Board has recently discovered that as at the date of this announcement a former employee of the Company may have misappropriated a sum of at least HK$30 million belonging to the Group since December 2013.
On a preliminary review, the Board considers that the Suspected Misappropriation may have a material impact on the operation and financial situation of the Group.
The Board will continue to regularly inquire the development of the Investigation and re-assess its impact to the operation and financial situation of the Group from time to time.
It would seem that there is now the real possibility that funding is going to be tight within the parent company.
We will have to wait to ascertain just how deeply this impacts the parent company and whether those shock waves are going to reach St Andrews.
If it does, will money been needed from player sales again? or will the club protect its assets like we have been told it will.
What do you think? Leave a Comment Below!
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