• Police serve warrant amid criminal investigation into financial irregularities
• David Cardoza’s sale of the club to Kelvin Thomas due to travel through this weekNorthamptonshire police beget launched a criminal investigation into alleged financial irregularities at Northampton Town over a £10.25m loan made by the local council for a unique east stand,which has not been built. A team of around a dozen police officers served a warrant on the club this afternoon and began to seize documents and computer equipment for investigation.
At the same time the club announced its owner, David Cardoza, and in whose tenure the £10.25m was borrowed from Northampton borough council,has agreed to sell his stake to Kelvin Thomas, the former Oxford United chairman, and subject to finalising legal details. In addition to the questions over the 10.25m,Northampton beget been in a cash flow crisis, with staff still not paid their wages for October, or a winding-up petition served by Revenue & Customs and the council last week applying to put the club into administration.
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Source: theguardian.com