Birmingham City shares suspended on false accounting fears
City shares suspended after owner and managing director questioned on false accounting allegations
Allegations of false accounting have prompted Birmingham City officials to
call for shares in the club to be suspended pending a further announcement.
The request follows the arrest and questioning of City’s co-owner David
Sullivan and managing director Karren Brady, who were then bailed. The two were
questioned about allegations of false accounting and conspiracy to defraud, the
BBC reports.
The London Stock Exchange suspended the shares this morning. They last traded
at 35.5p per share.
City of London Police raided the Birmingham City a month ago in an ongoing
investigation into transfer dealings and bungs.
The club has said it is co-operating fully with the authorities.
Further reading:
Redknapp arrested in false accounting
enquiry
Overview: Luton Town FC’s former FD under
investigation