Ex-AFL owners Bob and Alec Finch guilty of fraud in broker sale
Former AFL owners Bob and Alec Finch committed fraud by misrepresenting their financials in the sale of their business, a High Court judge has ruled.
The duo knew about a £3.5m client money hole and manipulated figures in the sale of AFL to Next Generation Holdings Limited in 2017, it was ruled.
The judge ordered the Finches to pay £6.12m of damages in a ruling handed down yesterday followed the case being heard in June.
FraudThe background to the case began in September 2017 when Next Generation, an investment vehicle chaired by former Cooper Gay CEO Toby Esser, bought a 58% controlling stake in AFL for £2.1m.
Following the acquisition
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