RegulationAccounting StandardsEx-CEO of Luton Town FC set for ICAEW investigation

Ex-CEO of Luton Town FC set for ICAEW investigation

ICAEW expected to investigate Luton Town FC former CEO following his disqualification at the High Court

Ex-CEO of Luton Town FC set for ICAEW investigation

The former CEO of Luton Town FC is expected to face investigation by the ICAEW after he was disqualified as a director.

The ICAEW has issued a statement regarding Luton Town FC’s former chief executive over claims he had breached football rules and tax arrears.

Robert Peter, a chartered accountant was disqualified at the High Court from being a director for seven years.

A statement from an ICAEW spokeswoman said: “We are aware of the proceedings taken against Mr Peters under the company directors disqualification act.

“Our disciplinary by-laws prohibit us from commenting on matters which may be being considered by our professional conduct department. Where such consideration results in disciplinary action than a public announcement is made.

“Those same by-laws provide that the making of an order against a member under the company directors disqualification act is conclusive evidence of misconduct.”

Former Luton Town FC chairman William Tomlins was disqualified from being a company director for six years and Richard Bagehot and John Mitchell for three years each.

The Insolvency Service investigated the directors and brought the case to the High Court because it felt the the directors had breached Football Association and FIFA rules, were in arrears at HM Revenue & Customs with PAYE, NIC and VAT contributions.

Between July 2004 and February 2007 the directors individually either caused or allowed the company to trade at the risk of and ultimate detriment of HMRC which was owed at one point £3,578,661. The Court heard there was a pattern of non payment, and chasing from HMRC.

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