Ex-QPR Director Kevin Steele .. Prison. 5 Years

[Macmoish]

Anyone know anything additional re our ex-QPR Director (resigned at the time of the takeover) Kevin Steele

As far as I found, his last court appearance was in November...and he was set to reappear in December but havent found anything.


"EX-MISCHON DE REYA PARTNER DENIES £18M BANK FRAUD
PRESTON, LANCASTER, LANCS; ESHER, SURREY A former partner at Princess Diana's solicitors denied plotting to steal £18m from a Swiss bank today (THURS). Kevin Steele, 50, is said to have conspired with businessman Michael Shepherd, 49, and Mark Pattinson, 36, to trick EFG Private Bank into paying out a huge cash loan. "
www.courtnewsuk.co.uk/online_archive/?name=welling&page=1

[Macmoish]

Bump a few months...I've seen nothing additional

[Macmoish]

Anyone know anything further....?

[Macmoish]

And bump again...

Seen nothing. Neither re there being a trial...Nor them dropping charges.

[Macmoish]

Trial has begun

Former QPR director accused of Swiss bank con
By Jenny Stanton

www.getsurrey.co.uk/news/s/2103098_former_qpr_director_accused_of_swiss_bank_con
November 09, 2011

A FORMER partner at Princess Diana's solicitors created bogus paperwork to help two conmen pull off a 'spectacular' £17.5m fraud on a Swiss bank, a court heard on Wednesday (November 9).

Ex-Queens Park Rangers director Kevin Steele, 51, plotted with businessman Michael Shepherd, 50, and Mark Pattinson, 37, to trick EFG Private Bank into paying out a huge cash loan, jurors heard.

Steele, of Forge Drive, Claygate, allegedly abused his position as a partner at internationally renowned London firm Mischon de Reya, which famously represented the Princess of Wales in her divorce, in his dealings with Shepherd.

Prosecutors say Steele helped carry out the con using fake documents which stated Shepherd had access to £76.4m held in two accounts at the Guernsey branch of Swiss financial group Bank Julius Baer.

Steele then applied for a loan from EFG worth 22m Euros – more than £17.5m – claiming the £76m was available as a security, it is said.

The lawyer denies any dishonesty claiming he was acting in good faith and was duped by his client Shepherd.

The court heard the three men carried out the fraud using six phoney letters relating to 'non-existent accounts' to convince EFG to part with the money.

Jurors heard four documents stated Shepherd was the beneficial owner of an account containing £51.4m, while two further letters claimed he had access to a second account holding £25m.

Mr Aaronberg said these letters were part of an ongoing scam in July and August 2008 in which Shepherd and Pattinson tried to persuade, and sometimes succeeded to persuade, people to believe Shepherd was the beneficial owner of all the money.

He said the accounts in these letters never existed and Shepherd did not have any money invested with Bank Julius Baer.

"Kevin Steele accepts that during July and August 2008 he knew about at least five of these six letters and he was involved in the content of one of the final two," Mr Aaronberg said.

"The real issue that you have to decide is whether he knew that these letters were false."

Mr Aaronberg said it was the 'spectacular use of these false letters' and a written undertaking signed by the four partners of Mischon de Reya which convinced EFG to hand over the loan to Shepherd.

He told the jury the undertaking had been prepared by Steele before being signed by his three fellow partners.

"The Crown’s case is that the other three partners in Mischon de Reya were deceived in signing this document because each of them trusted Steele as a fellow partner," he said.

Steele is also alleged to have abused the Mischon de Reya client account by allowing around £7m of the 20m Euros paid out by EFG to be credited into it.

He is then said to have transferred £1.8m to law firm Dundas and Wilson.

Mr Aaronberg said: "We allege that that payment was made dishonestly and when Kevin Steele authorised that payment he was potentially exposing his partners to risk of losing that £1.8m."

Steele denies charges of conspiracy to commit fraud by false representation between July 20 and August 22 2008 and conspiracy to use false instruments between May 8 and August 22 of the same year.

Shepherd and Pattinson have both pleaded guilty to the two.

Steele also denies commiting fraud by abusing his position at Mischon de Reya in the firm’s dealings with Shepherd between October 10 2007, and September 4 2008.

Pattinson, of Sharley Fold, Longridge, Preston, Lancs, admitted two charges in November 2010, while Shepherd, of Wellington Road, Lancaster, Lancs, entered guilty pleas on September 22 2011.

The trial, which is expected to last up to four weeks, continues.

[canadaranger]

Given that the client(s) had him transfer the money, looks like he may have been set up...

[Lonegunmen]

Sounds like a Nigerian scam to me.

[Macmoish]

Telegraph
www.telegraph.co.uk/news/uknews/crime/8880088/Partner-at-Diana-divorce-law-firm-took-part-in-18m-fraud.html

[simonr]

Shuoldn't think he has much to worry about...
Wasn't Ernest Saunders of Guinness once on the board.
One of the 'Guinness Four' he was sentenced to five years in prison which was reduced on appeal, of which he served 10 months in Ford Open Prison (just off down the garage to buy some beers) after being diagnosed with Alzheimer's. He then became the only person in medical history to have recovered from that horrible disease.
One law for them etc.....

[Macmoish]

Trial continue

Court New November 15, 2011

STEELE: FINANCIAL CONSULTANT THOUGHT BUSINESSMAN'S DEAL INVOLVED WAYNE ROONEY

A financial consultant who helped broker a sham £17.5m deal for a businessman said she thought she was helping him buy villas in a transaction involving England star Wayne Rooney. Miranda Khadr told jurors Mischon de Reya lawyer Kevin Steele, 51, confirmed Michael Shepherd had more than £50m in a bank to use as security for the loan
www.courtnewsuk.co.uk/online_archive/?name=kevin+steele&place=&courts=0#results

[Macmoish]

Trial continuews

Get Surry

Bank loan fraud defendant 'duped by conman'

November 28, 2011

AN EX-PARTNER at Princess Diana's solicitors who is accused of involvement in a £17.5m fraud plot has told a court how he was duped by a conman he believed was a "very nice man".

Kevin Steele, 51, is accused of helping former Claims Direct owner Michael Shepherd, 50, and Mark Pattinson, 37, to trick EFG Private Bank into paying out the huge loan.

The three men are said to have forged letters saying Shepherd had more than £76m available as a security in order to con the bank into parting with the cash.

The money was to be used to fund the development of a luxury Turkish resort where England striker Wayne Rooney and Brazilian football ace Ronaldinho had bought villas, Southwark Crown Court has heard.

Mr Steele, of Forge Drive, Claygate, allegedly abused his position as a partner at London firm Mischon de Reya - which represented the Princess of Wales in her divorce - in his dealings with Shepherd.

Shepherd and Pattinson have both admitted their role in the fraud and will be sentenced at the end of Mr Steele's trial.

Giving evidence, Mr Steele told how he was convinced of Shepherd's wealth at the Guernsey branch of Swiss financial group Bank Julius Baer (BJB) during negotiations with EFG and a host of potential investors.

He said he was stunned when he heard of Shepherd's deceit from a former colleague.

"Tim Clarke came to see me at home and said 'You won’t believe it, it turns out Mick Shepherd did not own that amount of money, he did not own anything at BJB'," he said.

Mr Steele said there was "no benefit at all" for either himself or his firm being involved in the scam.

He said he first met Shepherd in July 2007. He told the court Shepherd said he had made his money in the nightclub business in the Far East and through selling precious gems.

"I thought he was a very nice man," he said.

Mr Steele said that throughout his dealings with Shepherd he had been convinced of his wealth.

He said that he had not doubted the validity of letters alleged to be from BJB regarding Shepherd’s accounts.

But the documents were sent by Pattinson after he had altered the fax header to make it appear they came from BJB.

Mr Steele added that he had two phone conversations with people he believed to be from BJB, including one with a man said to be a bank officer for the Swiss company.

He is alleged to have tricked three of his partners at Mischon de Reya into signing an undertaking which guaranteed the firm would cover the loan repayments if Shepherd defaulted.

It is claimed he also abused the Mischon de Reya client account by allowing around £7m of the 20m Euros paid out by EFG to be credited into it.

David Aaronberg QC said: "We allege that payment was made dishonestly and when Kevin Steele authorised that payment he was potentially exposing his partners to risk of losing that £1.8m."

Mr Steele denies conspiracy to commit fraud by false representation between July 20 and August 22 2008, and conspiracy to use false instruments between May 8 and August 22 of the same year.

He also denies committing fraud by abusing his position at Mischon de Reya in the firm’s dealings with Shepherd between October 10 2007 and September 4 2008.

Pattinson, of Sharley Fold, Longridge, Preston, Lancashire, and Shepherd, of Wellington Road, Lancaster, Lancashire, have admitted conspiracy to commit fraud by false representation and conspiracy to use false instruments.

The trial continues.

www.getsurrey.co.uk/news/s/2104108_bank_loan_fraud_defendant_duped_by_conman

[FloridaR]

FFS - Shepherd made his money from nightclubs and selling gems - real nice guy !!!


Looks like Steele's still operating under the guise of having moral turpitude but when he runs out of lies all hell will break loose in the court room.

I wonder what the % of cut promised to Steele was ?

[Macmoish]

Found Guilty

www.dailymail.co.uk/news/article-2070509/Former-partner-Princess-Dianas-law-firm-faces-jail-helping-mans-17-5m-swindle.html

www.telegraph.co.uk/finance/financial-crime/8936551/Ex-Mischon-de-Reya-partner-found-guilty.html

TELEGRAPH
Ex-Mischon de Reya partner found guilty

A former partner at leading West End law firm Mishcon de Reya has been found guilty of conspiring in a €22m (£18.9m) loan fraud.

The court heard how Steele used his position at Mishcon de Reya, the lawyers that represented Diana Princess of Wales in her divorce, to defraud EFG Private Bank of €22m. 
By Jonathan Russell12:48AM GMT 06 Dec 20111 Comment
Kevin Steele, 51, also a former director of Premiership team Queens Park Rangers, was convicted of forgery and two counts of fraud in relation to a plot to steal millions of pounds from a Swiss bank.
His two conspirators in the crime, Michael Shephard, 50, and Mark Pattinson, 38, pleaded guilty to related offences earlier this year.
All three are expected to be sentenced on January 9.
The court heard how Steele used his position at Mishcon de Reya, the lawyers that represented Diana Princess of Wales in her divorce, to defraud EFG Private Bank of €22m.
The trio used false documents supposedly from Bank Julius Baer as collateral for the loan.
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The case was brought by the Serious Fraud Office. Richard Alderman, the SFO's director, said: "I welcome today's verdict. It's a victory for honesty and fair dealing in business."
Mishcon declined to comment on Monday. Steele was dismissed from the lawyers three years ago when his activity first came to light.

At the time a spokesman for Mishcon said: "Kevin Steele was expelled from Mishcon de Reya in September 2008. "The firm carried out a thorough internal investigation and brought in the police and the Solicitors Regulation Authority."

[Macmoish]

The Lawyer

SFO convicts ex-Mishcon partner of fraud
5 December 2011 | By Vanessa Wozniak

Former Mishcon de Reya property partner Kevin Steele has been convicted of forgery and fraud offences by the Serious Fraud Office (SFO).

The case dates back to 2008 when, still a partner at the firm, Steele helped former client Michael Shephard and his friend Mark Pattinson to fraudulently obtain a €22m (£18.4m) loan from Zurich-based EFG Private Bank.

The fraud was committed using fake letters that purported that Shephard had on deposit the sum of £76m held in two accounts at the Guernsey branch of Bank Julius Baer, which was later accepted as security for the loan.


15 New Bridge Street’s David Aaronberg, prosecuting, told Southwark Crown Court that this was “all lies”.

Additionally, Steele faces a further charge of abusing his position at the firm between October 2007 and September 2008 along with using false instruments and conspiracy to commit fraud by false representation.

His co-defendants pleaded guilty to two charges on the indictment. All three are due to be sentenced in January 2012.

Steele was removed from Mishcon in September 2008 when the firm referred the matter to the police and the SRA. It is understood that he was also a non-executive director at QPR football club.

A Mishcon spokesperson said he was unable to comment on the matter.

Commenting on the result SFO director Richard Alderman said: “I welcome today’s verdict.  It’s a victory for honesty and fair dealing in business.”


www.thelawyer.com/sfo-convicts-ex-mishcon-partner-of-fraud/1010552.article



 

[bowranger]

I'm still in serious shock at the SFO securing some kind of conviction that didn't involve going cap in hand to the defendants and begging for a settlement.

[Macmoish]

Get Surrey/Jenny Stanton

Bank fraudster has life-threatening heart defect

January 09, 2012

AN EX-PARTNER at Princess Diana's firm of solicitors who helped pull off a £17.5m fraud on a Swiss bank could face "sudden death" as a result of a fatal heart condition, a court due to sentence him heard on Monday.

Lawyer Kevin Steele, 51, of Forge Drive, Claygate, provided phoney paperwork stating that businessman and former Claims Direct owner Michael Shephard, 50, had £76.4m in two accounts in order to trick EFG Private Bank into paying out a huge loan.

The bank was told the cash would be used to finance the development of a luxury Turkish resort where England striker Wayne Rooney and Brazilian football ace Ronaldinho had bought villas.

Ex-Queens Park Rangers FC director Steele helped dupe the bank into believing Shephard's claims that he was a "phenomenally successful businessman".

Steele was convicted at Southwark Crown Court of conspiracy to commit fraud by false representation and conspiracy to use false instruments after a trial last month.

He was facing sentence on Monday (January 9) but the hearing was adjourned after Orlando Pownall QC told the court that Steele had just learnt he was suffering from a potentially life-threatening heart condition.

The court heard he visited a Harley Street clinic last week for tests and had discovered only on Monday morning that the disorder posed a "risk factor for sudden death".

Steele’s father died suddenly as a result of a genetic heart disorder aged 53, said the barrister.

He added that a further assessment as to whether the solicitor would need an implantable DC defibrillator inserted was required.

A pre-sentence report for Steele had also not been prepared, the court heard.

Judge Graham Wood QC adjourned the sentencing to a date yet to be decided and ruled that Shephard should be sentenced alongside Steele.

But associate Mark Pattinson, 38, who earlier admitted fraud charges, was jailed for 18 months on Monday.

Pattinson ran part of the fraud from a house in Preston, Lancashire, where he forged faxed documents purporting to be from Bank Julius Baer at Shephard's behest.

The court heard he netted up to £90,000 for his role in the fraud.

Shephard, of Wellington Road, Lancaster, and Pattinson, from Sharley Fold, Longridge, Preston, both admitted conspiracy to commit fraud by false representation and conspiracy to use false instruments before the trial began.

Steele was found guilty of conspiracy to commit fraud by false representation between July 20 and August 22, 2008 and conspiracy to use false instruments between May 8 and August 22 of the same year.

Steele was also convicted of committing fraud by abusing his position at Mischon de Reya - which represented the Princess of Wales in her divorce - in the firm’s dealings with Shephard between October 10, 2007 and September 4, 2008

www.getsurrey.co.uk/news/s/2106091_bank_fraudster_has_lifethreatening_heart_defect

[Bushman]

Reminds me of Ernest Saunders

Saunders appealed against his sentence of five years in prison, and on 16 May 1991, the sentence was reduced to two and a half years

Lord Justice Neill said that he was satisfied that Saunders was suffering from pre-senile dementia associated with Alzheimer's disease, which is incurable. With full parole, Saunders was released from Ford Open Prison on 28 June 1991 having served only 10 months of his sentence.
He is the only known person to recover from the disease.

Since then, Saunders has worked as a business consultant, including advising mobile phone retailer Carphone Warehouse from its early days until prior to its flotation.
He was later appointed chairman of the executive committee of a US-based multinational petrol credit-card company, Harpur-Gelco.

Saunders also acted as a consultant to Seed International Ltd, a company based in the Cayman Islands.

[Macmoish]

Sentencing Jan 27

www.ftadviser.com/2012/01/10/regulation/regulators/businessman-jailed-over-m-fraud-Gnc35M4zQfDcyaS7yKRVOI/article.html

Businessman jailed over £18m fraud
A businessman has been jailed for 18 months for his part in a €22m (£18m) fraud, while two others will be sentenced later this month.

By Marc Shoffman | Published Jan 11, 2012

Mark Pattinson, 38, of Lancashire, was sentenced at Southwark Crown Court on Monday 9 January after he had pleaded guilty to conspiracy to use false instruments and conspiracy to commit fraud by false representation.

Another businessman, Michael Shephard, 50, of Lancashire who also pleaded guilty, and Kevin Steele, 51, of Kent, a former partner for law firm Mishcon de Reya who was found guilty after a trial in December, had their sentencing adjourned until 27 January.

The pair’s sentencing was delayed after the court was told Steele had a heart condition and a pre-sentencing report had not been compiled. Judge Graham Wood ruled that both should be sentenced together.

Jurors were told during the trial that between 8 May and 22 August 2008, all three conspired together, to use false letters purporting to originate from Julius Baer & Co bank.

This paperwork, the court heard, was used to dupe EFG Private Bank to believe Shephard had £76.4m held in two Julius Baer & Co accounts. This was then used as security for a €22m loan from EFG Private Bank.

Steele used his position at Mischon de Reya to support Shephard’s financial interests, the court heard.

Sentencing Pattinson, Judge Wood said the defendant must serve at least half the sentence in jail, but said he was confident he would not reoffend.

The case was accepted by the Serious Fraud Office for investigation in November 2008 and was conducted in partnership with Warwickshire Police.

[Macmoish]

I think today's the day...
Sad day for QPR supporter

[Macmoish]

Jeeze - Five years

The Lawyer

Ex-Mishcon partner jailed for five years over fraud
27 January 2012 | By Vanessa Wozniak

.A former Mishcon de Reya property partner has been jailed for five and a half years for his part in a €22m (£18.4m) loan scam.

Mishcon de Reya
The case dates back to 2008 when Kevin Steele was still a partner at the firm. In December he was convicted by the Serious Fraud Office for forgery and fraud offences (5 December 2011).

Steele helped former client Michael Shephard and his friend Mark Pattinson to fraudulently obtain a €22m (£18.4m) loan from Zurich-based EFG Private Bank.

www.thelawyer.com/ex-mishcon-partner-jailed-for-five-years-over-fraud/1011133.article

[Macmoish]

Press Association

Lawyer jailed over £17.5m fraud
Published on Friday 27 January 2012 16:51


A Surrey man who was a former partner at the law firm used by Diana, Princess of Wales, has been jailed for his part in a £17.5 million fraud.

Kevin Steele, 51, was sentenced to five and a half years imprisonment after he helped fraudster Michael Shephard apply for the multi-million pound loan from a Swiss private bank in order to develop a luxury hotel resort in Turkey.

The equity partner at Mishcon de Reya, which represented Diana in her divorce from the Prince of Wales, helped Shephard, a client of his, to obtain the £17.5 million loan.

The pair used fake documents to back up a bogus claim that Shephard had access to a £76 million fortune to secure the loan from the EFG Private Bank, a Swiss-based global company with offices in Mayfair.

London's Southwark Crown Court heard that they secured the loan by providing forged letters from another private bank to EFG claiming Shephard had the money in offshore accounts.

www.stamfordmercury.co.uk/news/lawyer_jailed_over_17_5m_fraud_1_3464517

[Macmoish]

Five year flashback (Feb 2007) Kevin Steele made a QPR Director
qprreport.proboards.com/index.cgi?board=general&action=display&thread=11432

[Macmoish]

And flashback: Departing from QPR - August 2007

Monday, August 20, 2007

QPR Holdings Board of Directors Resigns as Preparatory Step to Takeover
-
QPR Official Site - BOARD CHANGES
Posted on: Mon 20 Aug 2007

The Board of Directors of QPR Holdings Ltd have tendered their resignations with immediate effect ahead of potential new investment.
Speaking to www.qpr.co.uk earlier today, out-going Board members Nick De Marco, James Ferrary and Kevin Steele issued the following statement.
"We are delighted to be able to tender our resignations from the Board of Queens Park Rangers Football Club in order to assist in the changes set to take place this week.
We believe the new investment coming into the Club will be the most important for years; will save QPR from the perilous financial position we have found ourselves in over the past years; and should put the Club in an excellent position to move forward.
We would like to thank Gianni Paladini in particular for attracting this important new investment and we are delighted he will stay on as Chairman of the Club. Gianni has had a difficult job keeping the Club going but he has pulled off a master-stroke in bringing in this new investment.
We are also deeply grateful to Antonio Caliendo and Franco Zanotti for both financing the Club over the past years and for the terms upon which they have agreed to assist with the new investment.
We are certain the new investors and the new board will get behind John Gregory and give him the support he needs. We are also positive that the fans can get behind a new board and continue in their loyal and unrivalled support for the team.
It has been an honour for all of us to serve this great Club, and we are grateful to all the staff and supporters we have had the pleasure to work with."
*The Club will be making no further comment at this stage. QPR

[Macmoish]

As I recall the accounts, Kevin Steele supposedly played a major role in bringing in Briatore & Ecclestone

[maudesfishnchips]

so what was paladini's relationship with him?

[Macmoish]

BBC -Rangers name three new directors

Three legal experts have joined the QPR board as non-executive directors.

Property lawyers Jason Kallis and Kevin Steele have been rewarded for unpaid work on behalf of the club along with barrister Nick De Marco.

"These people have been supporting QPR for much longer than me and they are the future of the club," said Rangers chairman Gianni Paladini.

"I hope they'll be involved with Queens Park Rangers long after me. Their expertise is great for us."

Kallis said: "Knowing what the club's been through, I know there's bound to be scepticism whenever anyone joins the board, but myself and Kevin are QPR through and through."

De Marco has been acting as a legal advisor at Loftus Road for some time and has been a staunch supporter of the board.

Paladini and Monaco-based club owner Antonio Caliendo have been viewed with suspicion by some fans.

But De Marco said: "I've seen at first hand the commitment Gianni and the Monaco investors put in.

"The financial position of the club is better that it has been for quite a few years.
"We've been in a perilous position and would have been in administration were it not for the Monaco investment." BBC



March 2, 2007 QPR1st Profiles/Personal Statements from QPR's Three New Board Members: Jason Kallis, Kevin Steele & Nick De Marco

... Nick De Marco
“I fell in love with QPR in 1978 when as an 11 year old I was first taken to Loftus Road and witnessed such legends as Gerry Francis and Stan Bowles. I went to school in Hammersmith and got together a group of about half a dozen friends who attended every home game over the next few years. I missed the Premiership years but returned as a regular fan and season ticket holder a few years ago.

I work as a barrister specialising in employment, commercial and sports law. I have represented many football clubs, players and sports regulatory bodies. Over the past couple of years I have been assisting the Board at QPR with voluntary legal advice and expertise that I am told has saved the club tens of thousands of pounds. I’ve seen at first hand the passion, work and commitment put into the Club by Gianni Paladini and Antonio Caliendo, without whom the Club would have gone into administration many times over. We are not a large wealthy club, and the Board needs all the professional help and expertise it can get. I am deeply honoured to have been asked to join the Board of the Club I love, and I am delighted Kevin Steele and Jason Kallis have joined too. They are both first class lawyers from one of the best solicitors’ firms in Britain. Their work for the club over the last year has been crucial and again saved the club vast sums of money. They are also both long term QPR fans based in London.

The priority for all of us now is to continue to give John Gregory and the team all the support they need, and to work hard to secure the financial stability of the Club. In addition to this I believe the priorities for the Board are refinancing the ABC loan, preserving the ground as an asset fully owned by the Club for the future, encouraging further involvement in the Club by its fans and re-building roots within the local community. I hope to assist the Board in all of these tasks, and to see the Board joined by other London based investors, experts or professionals who share these aspirations.”
www.qpr1st.co.uk/main/newsarticle.asp?id=131


QPR's Three New Board Members Profiled & Interviewed: Chairman Paladini Explains Their Appointment
-
David McIntyre - Rs welcome ‘Nico- - the Internet bruiser
Ealing Gazette

Chairman Gianni Paladini has handed a staunch ally a place on the QPR board.
Barrister Nick De Marco is one of three legal experts to have been installed as non-executive directors. Property lawyers Jason Kallis and Kevin Steele have
also been rewarded for work on behalf of the club with seats on the board.

All are Rangers fans and De Marco - a steadfast supporter of the Italian regime at Loftus Road – has been acting as the club’s legal advisor for some time.
He is a well-known and controversial figure among fans groups. His elevation to the board is a bold statement by Paladini. Posting under the name ‘Nico’, he has become notorious on Internet messageboards for warring with dissatisfied fans.

His renewal of membership of the QPR Loyal Supporters Association last year caused a bitter feud within the organisation.

Two longstanding committee members resigned after he was granted ‘associate membership’. Some allege De Marco deliberately set out to divide
supporters on behalf of Paladini and has sought to control their interaction with the club. Paladini has placed him in charge of organising and chairing meetings with the various supporter organisations that now exist.

The club also caused a stir when, acting on De Marco’s advice, it threatened to sue the fanzine ‘A Kick Up The R’s’ over allegations regarding Paladini’s dealings.

De Marco accepts his elevation to the board will cause consternation among “a small minority” of supporters. But he insisted: “I was never interested in splitting
the LSA.

“I was a supporter who worked as an unpaid legal advisor to the club – a fact I never tried to hide. “It was simply a case of renewing my membership and
there was no rule against LSA members working for the club or, for that matter, being on the board. “Other people made an issue out of it and it wasn’t me
who saw it all as a litmus test for the LSA. “I simply paid my £5 and took the associate membership I was offered. My role and influence in the LSA is
non-existent.”

De Marco also denies his directorship has been in the pipeline for some time and is merely payback for his unceasing support for Paladini. “Gianni asked me two or three weeks ago,” De Marco said. “I was surprised. It wasn’t something we had discussed
before.

“I didn’t agree to it first of all. What persuaded me was that Kevin and Jason agreed to join the board and I trust them both as QPR fans and quality lawyers.
“I was also persuaded because of the possibility of more additions to the board in the near future. “I defended Gianni on the Internet because, as a fan,
I thought he seemed good for the club.

“I then started to give legal advice and since then I’ve seen at first hand the commitment Gianni and the Monaco investors put in.”
De Marco has suggested that Rangers’ problems, including a succession of rumours and bad-news stories, have been caused by sympathisers of ex-chairman Bill Power trying to stir trouble. “Of course it isn’t all down to that,” De Marco admitted.

“I wouldn’t blame any fans or indeed the previous
board for things that have gone wrong. But it would
also be silly to blame it all on the current board.”
He added: “The financial position of the club is
better that it has been for quite a few years.
“We’ve been in a perilous position and would have been
in administration were it not for the Monaco
investment.”

Kallis and Steele helped secure a significant legal
victory for the club.
American Tim Krause, once one of the many would-be
investors courted by QPR before Paladini entered the
fray, claimed to have been given a 10-year catering
contract at the club.

Rangers faced paying out a huge sum before Kallis and
Steele offered to help after being introduced to
Paladini by Andrew Ellis, who attempted a takeover of
the club in 2001 and whose father Peter Ellis was
chairman between 1994 and 1996.

Kallis said: “It was a case of a job well done and
Gianni then asked us to join as non-executive
directors.

"The current board at QPR inherited some legal
problems, which we were more than happy to solve for
them.

“Knowing what the club’s been through, I know there’s
bound to be scepticism whenever anyone joins the
board, but myself and Kevin are QPR through and through.”

With some fans suspicious of the QPR board and fearing
for the future of Loftus Road given the club’s
financial problems, Paladini is adamant they should
read nothing into his hiring of property experts.
“People shouldn’t see it like that,” Paladini
declared.

“We will not be moving. It just isn’t something we’re
thinking about.”
Paladini feels appointing new directors without any
direct investment in return is justified.
He says Kallis and Steele have saved the club over
£400,000.

“That is as deserving as any investment and their expertise is great for us,” Paladini said.
“And some might criticise Nick De Marco, but he is a
great barrister who has worked tirelessly for this
club without a penny in return.

“These people have been supporting QPR for much longer
than me and they are the future of the club. I hope
they’ll be involved long after me.”

Read more: qprreport.proboards.com/index.cgi?board=general&action=display&thread=1977#ixzz1khM5BFoG

[Macmoish]

QPR Report was just cutting-edge!

qprreport.proboards.com/index.cgi?board=general&action=display&thread=2505QPR Report



I: Ex-QPR Director, Kevin Steele

if you do some googling re our former Director Kevin Steele of (Was at Mishcon de Reya - Don't see his name listed there any longer)

What was said at the time:

Feb 25, 2007
qprreport.blogspot.com/2007/02/three-new-board-members-announced-by.html

From QPR1st "3 new directors' profiles - March 2, 2007

Kevin Steele

“I am Kevin Steele. I am a Partner specializing in building and property law. Before that I worked at the GLC.

I was born in Shepherds Bush and come from a (largely) QPR supporting family. My earliest memories are of Rodney and the Morgan Twins, and seeing Gerry Francis make his debut (we lost to Liverpool).

I am honoured to have been made a director, and my immediate aim is to get rid of the ABC millstone, and as soon as possible. If we can achieve that, the Club's financial position will be much improved. Then we have to look at other ways of improving the finances.

I believe that provided we can stay up, the future is bright for QPR.”

www.qpr1st.co.uk/main/newsarticle.asp?id=131
\

[Macmoish]

He was an active Director, appointed by Gianni

This is the 2007 QPR Holdings AGM report as posted on Indys at the time

QPR Holdings 2007 AGM (Cock-ups But No Conspiracies ?)
June 20th, 2007 | Category: Club This post has 5 comments.

Interestingly this year, the Board chose not to mingle with the Shareholders before the AGM and they were all sitting at the top table 15 minutes before it started. John Gregory looked like he wanted to be somewhere else and who can blame him, he’d probably heard about the previous ones ! At the top table this year were: Kevin Steele (Non Executive Director – QPR FC), Nick De Marco (Non Executive Director – QPR FC), Antonio Caliendo (Chairman – QPR Holdings), Gianni Paladini (Chairman – QPR FC), John Gregory, Akin Yilmaz (Company Secretary), Mark Cook (Financial Controller)

Kevin Steele chaired the meeting and started by naming those on the top table. Franco Zanotti was one of those missing but there was no apology given for his absence. He then explained that he hoped that the meeting would last no more than two hours and went on to explain the four resolutions:-

1 To re-approve the 2005 Accounts

2 Accept the 2006 Accounts

3 Re-appoint Antonio Caliendo as a Director

4 Re-appoint the Auditors

He then stated that there was a general rule that up to three questions could be asked, that everyone should try to keep the meeting civil, the Board were doing their best for QPR, they were all human, things that had been said in the past and with the benefit of hindsight, shouldn’t of been and finally, he stated that he’d been a QPR supporter all his life. By this time (7 minutes into the AGM) the normal disorganisation and farce that we have come to accept at QPR had started. Last year, each member of the top table had their own microphone but no one had thought to provide a roving mic for the shareholders to ask their questions. This year they did it themselves. In fact, there was only one microphone in the whole room which had crackled, hissed and whistled since the first moment that Kevin Steele had started to speak. Why no one had thought to check this out beforehand is beyond me but now the tone of the meeting had been set.

Questions were taken on the first resolution, to re-approve the 2005 Accounts. The first question from the floor was, “Can we see the revised figures ?” Akin Yilmaz stated that the figures hadn’t actually changed and it was only that a paragraph stating that the Company was still a going concern, that was missing (This isn’t true, the figures have changed, the totals may be the same but the figures are different)

The next question was why the Auditors had been changed. AY felt that it was best to go back to the former Club’s Auditors who had been auditing the accounts for ten years as they had more experience (It should be remembered that it is the current Board that split with them during 2005 in the first place) There was then a five minute break while the microphone was sorted out (unsuccessfully) A lady who is a regular at getting straight to the point at AGM’s asked, “How can you organise a football club when you can’t even get the accounts right ?” Kevin Steele replied, “It’s a cock-up not a conspiracy.” The lady’s response (and this would have been an appropriate point to end the AGM) was. “ITS ALWAYS A COCK-UP !” Then the microphone went again !!! The resolution was then passed with some moans and groans from the floor.

Kevin Steele then went on to explain the 2006 Accounts at breakneck speed and it went something like this:-
2006
Loss up from £2.5m to £3.3m
Turnover up because of Season Ticket sales and increased match day receipts
Operating costs up due to increased players’ wages and match day costs up (no reason given)
£2.6m had been put in by Directors as loans

2007
Loss projected at £2.6m (should be an easy projection as the 2007 financial year has already ended)
2008

Reduced staff budget by £1.2m and player sales should mean break even


I’ve actually been to all the QPR AGM’s and I’ve been hearing about the losses being reduced and breakeven the next year, diatribe for at least the last four years, so I’m not going to hold my breath. It’s going to be interesting to see how close the Board get to the £2.6m losses for 2007 as they must have a good idea by now. Sometimes, we have to take these things on trust as we don’t have access to the inside information but I can’t think of any excuses as to why the £2.6m figure should change.

KS went on to explain that the winding up order was for historical VAT and that a payment would be made next week (I found out later that although some of the money dates back to the Admin period, it is a very small amount) The Club are taking specialist advice and are reserving the right to seek repayment from the Inland Revenue. The Inland Revenue are not keen on football clubs as they have had their position as secured creditors removed from them by recent legislation. KS said that you would think that they were easy to deal with but it was in fact, a hard struggle.

Harold Winton (sitting in the front row this year and not at the top table) then decided that this was the perfect time to interject. There are those that agree with Harold and those that don’t but he can’t be accused of sitting on the fence. He went on to say how he had been a supporter for over 60 years, was behind the Board and thanked AC for his loans. He then went on to state many things relating to the post balance sheet events, particularly the sale of Dan Shittu, the purchase of Rehman and Blackstock and then the sale of Dean Parrett. HW said that Tottenham had agreed to pay £2m for Dean, they then changed it to £1m and that there were rumours that the Wintons gained £400,000 from the deal. HW went on to state that the Wintons had not received a penny from the deal.

HW went on to say that they had not received any money back from the sale of Dan Shittu. He stated that the Wintons would loan the profits from the Shittu sale back to the Club indefinitely so that a player could be purchased, all they wanted was their capital back. Gianni then woke up and said, “You don’t want your money back ?” HW then repeated again that he only wanted the capital back. An argument between them then started regarding the amount of money the Wintons had loaned the Club. GP stated that £650k was due back to them on the 15th August. Harold then went on to break the amounts down that included £250k for Shittu, £120k to pay off David Davies, £270k last October and £80k to an unknown person (later found to be Mr Perry) At one point HW was slapping the top table saying to GP, “Did I give you £270k last October ? If it’s true then you resign, if it’s untrue then I’ll stay away the Club for ever ! If you don’t think it’s £270k then you’re daft ! “ GP seemed to be reluctant to take up the challenge. KS then tried to make the peace by saying that he and Alex Winton knew the correct figures.

Someone from the floor then asked if these liabilities were shown in the Accounts. Nick De Marco said that they acknowledge the contribution that the Winton family have made but it’s not helpful to raise these questions as they were not AGM related. HW asked why the Parrett sale was not included in the post balance sheet events, Mark Cook then said that it was too late. A question from the floor was raised about the sell-on clause from Charlton and it was stated as 25% followed by one on the sell-on fee for Dan Shittu. After some discussion, KS then stated this as 10% on £1.85m. There was then another question about whether the 2006 Accounts showed any money due to, or from the Wintons. AY said that they were in the Accounts. The floor then asked if the Board would make details of all +/- known before or at the next AGM and AY said yes they would.

A question was then asked as to why only £1m from the Parrett sale and not £2m ? KS said that he wasn’t in charge of the deal and he wasn’t sure who was. GP then went into a long story about how Dean wouldn’t sign a contract and asked to speak to Chelsea. Chelsea offered £500k and this wasn’t enough and that Alex Winton went with Dean to Chelsea. This was denied by Alex. Then eventually Tottenham came in and GP said that they wanted £3m. Tottenham weren’t interested and Alex said that the Club had to let him go otherwise he would go for nothing in November and how he hadn’t got any money from it and it had all gone to the Tax Man. Alex Winton then said this was because GP and JG took Dean to one side and said that they wanted him to go to Chelsea and that Tottenham were now the only choice because of the way the boy now felt about the Club. GP said that if it had gone to a tribunal then they’d only have got about £150k and he wanted £2m. Mr Harris then got his own back for being interrupted by HW last year by asking if this was AGM business ? GP then said that they got £1m plus a 25% sell on clause. It was never explained how the deal went from £2m to £1m as GP seemed to be more keen to clear his name of allegations against him that hadn’t been made rather than answering the question.

Dave Morris then asked a question about whether the 2005 Accounts showed the £200k loan made by him or the £85k due to Mr Perry. KS stated that the 2005 Accounts had already been approved. Mr Harris then stood up and gave his annual speech. This year it was about how he admires the optimism about being a going concern even though the Club is £20m in debt with no assets and how he’d like to say how he is behind the Board and appreciates the work that the Wintons and Antonio Caliendo have done for the Club. His question was about how can we share the Board’s confidence that the Club is a going concern ? Mark Cook’s rather flippant response was that the Club was still here one year and fifteen days after the end of the financial end. Nick De Marco then said that the Club has to look towards new investments and that they were working day and night to do this. He also pointed out that the television money would go up next year and that AC and GP would sell their shares for 6.5p. HW asked whether the investment would be new equity or what form of investment ? KS responded with, “Anything we can get our hands on”

Mr Harris then asked if there had been any new loans since the Accounts, if so, how much, from whom and what was happening with ABC ? Kevin Steele said that originally he was optimistic about getting rid of the loan but after 4/5 months of discussions, it became clear that financial institutions were not prepared to loan to a football club and this is for two reasons:-

1 They don’t want the bad publicity of foreclosing on a football club



2 There is a covenant on the Ground that means that they could not redevelop

He added that they’d spoken to hedge funds that had been lending money to Premier League clubs at 14-15%. The ABC loan will go up to 11.59% but they are confident of negotiating the rate down to 11.50% Furthermore, the ABC loan is not now as bad as it was at first because of the base rate interest rises. They are also trying to negotiate a clause in the contract that says that they can end the ABC loan if a better rate comes along as currently there would be no early repayment clause. They are also checking if this is legal. Someone asked if there had been any further Directors’ loans since the Accounts. GP responded that there was £6.8m in loans. It wasn’t made clear whether this was further loans or the total ? I’m assuming that it is GP’s standard answer to how much the Board has invested in total.

GP then went on to say about how he had put in much more than £650k. He’d put in £150k here, £150k there, had sold three of his five houses etc and at one point said that he was a prat for not checking carefully where he was investing his money. A question from the floor asked whether there had been discussions about what would happen if the ABC loan couldn’t be repaid ? KS said that there had been no such discussions, that the loan would go up to 11.59% and that it is not repayable early. The resolution on the 2006 Accounts was then passed.

The next resolution was on the re-appointment of the Auditors. A question was asked on their experience. KS said that they had dealt with the Club for ten years. The next question was on whether they dealt with other football clubs. AY responded that they didn’t as far as they knew. Nick De Marco also said that they were relatively cheap costing only about £15k and someone like D&T would be around £100k. Someone from the floor then stated that the Auditors would be duty bound to declare if they did work for other clubs and most problems with audits were because the Board withheld information. The resolution was then passed which was followed by a break for coffee (no tea and not much milk either but that’s the standard for any QPR catering)

The second half of the AGM was for general off the field and on the pitch questions. The first was about what did D&T do ? KS responded by saying that they were paid £40k for a complete review of the financial systems. The next question was about what happens to the £10m borrowed at the end of the ABC loan. KS basically answered by saying that another loan would have to be sought to pay it off. Next up was concerning press reports that the current Directors were willing to sell their shares. GP went into his normal speech about moving aside if anyone showed that they had the money and how they didn’t want their investment back until QPR were in the Premier League.

Geoff Gibbs from QPR 1st then asked how much the new TV deal was worth and how much was it worth currently ? GP then said (much to the visible relief of Nick De Marco) that he couldn’t say as it would be announced on the 18th but last year it was £1.05m. GP then announced that he’d signed a right back and should really tell John Gregory. He then said he’s signed Paul Parker. Nick De Marco added that this was as temporary Commercial and Communications Director to help with PR. It should be pointed out to Mr Paladini that Paul Parker wasn’t a right back at QPR and was much more useful as a centre half. There was then a question about Paul’s expertise. We were told that he’d done media training and worked with MUTV. GP then stated that Paul was needed to, “Stop me making a cock-up with the Press.” That was the end of the off the field questions.

John Gregory then stood up and said, “It’s a great pleasure to be here, NOT !” and that sums up the AGM. There were a number of on field questions raised but in truth there was not much that hadn’t been heard before. Alan Barnes asked whether there would be any more pre-Season games. JG replied that there would be a couple of games at the Training Ground against local opposition.

My view of the AGM is that Nick De Marco and Kevin Steele did a great job of controlling Gianni Paladini. I don’t think that it changed many people’s opinions on how the Club is being run. The Board wasn’t given a particularly hard time with the questioning so we will have to see if they actually deliver what they said they were going to do.

Frog

[Macmoish]

GUARDIAN

Former partner at Princess Diana's law firm jailed for part in £17.5m fraud

Kevin Steele given five-and-a-half-year sentence for using his position at Mishcon de Reya to help fraudster obtain loan

Press Association

Kevin Steele was a partner in Mishcon de Reya, which represented Princess Diana in her divorce from the Prince of Wales. Photograph: Rex Features/five

A former partner at the law firm used by Diana, Princess of Wales, has been jailed for his part in a £17.5m fraud.

Kevin Steele, 51, was sentenced to five and a half years imprisonment after he helped fraudster Michael Shephard apply for the multimillion pound loan from a Swiss private bank to develop a luxury hotel resort in Turkey.

The equity partner at Mishcon de Reya, which represented Diana in her divorce from the Prince of Wales, helped Shephard, a client of his, to obtain the £17.5m loan.

The pair used fake documents to back up a bogus claim that Shephard had access to a £76m fortune to secure the loan from the EFG Private Bank, a Swiss-based global company with offices in Mayfair.

Southwark crown court in London heard that they secured the loan by providing forged letters from another private bank to EFG claiming Shephard had the money in offshore accounts.

Prosecutor David Aaronberg QC said: "Mr Shephard was presented as a phenomenally wealthy businessman. He had no money in such bank accounts – the letters were forgeries.

"Mr Shephard was presenting himself as a successful man with these vast sums of money tied up in Swiss bank accounts and he was being supported by Mr Steele."

The court was told that half of the money was used to buy a hotel site in Turkey and the balance of the fraud was put into Shephard's account at the law firm. Steele then used £1.8mn of the money in the account to pay the costs of a Russian client of Mishcon de Reya to whom Steele had given negligent advice, the court was told.

The court was told that Shephard's assistant, Mark Pattinson, who helped create the forged letters, had previously been sentenced.

Steele, of Claygate in Esher, Surrey, was sentenced to five and a half years for conspiracy to commit fraud by false representation, and five and a half years for conspiracy to use false instruments, to run concurrently.

Pattinson, of Preston, Lancashire, and Shephard, of Lancaster, both admitted the charges at an earlier hearing. They were sentenced to 18 months and six years and three months, respectively.

Shephard was also disqualified from being a company director for 15 years.

Steele was also handed a jail term of four years, to run concurrently with the other sentences, for committing fraud by abusing his position at Mischon de Reya between 10 October 2007 and 4 September 2008.

www.guardian.co.uk/uk/2012/jan/27/former-partner-diana-law-firm-jailed?newsfeed=true

[Macmoish]

INDEPENDENT

Three are sent to prison for defrauding Swiss bank of $22m
SATURDAY 28 JANUARY 2012

Three conspirators, including the former owner of the no-win, no-fee firm Claims Direct and an ex-partner at the top-drawer law firm Mischon de Reya, have been jailed for defrauding a Swiss bank.

The trio defrauded the Swiss bank EFG Private Bank of Zurich of $22m in 2008 by making a loan application supported by fake letters claiming that more £76m was held on deposit at Bank Julius Baer in Guernsey. The money was to be used to fund a Turkish resort where footballers including Wayne Rooney, pictured, had bought villas.

Kevin Steele, who was a partner at Mischon de Reya in 2008 and was also on the board of Queens Park Rangers, was found guilty of forgery and fraud in December and was sentenced yesterday to five years and six months. Michael Shepherd, a former client of Steele, was sentenced to six years and three months and banned from acting as a director for 15 years. He, like his associate Mark Pattison, who has been sentenced to 18 months imprisonment, had pleaded guilty ahead of the trial.

www.independent.co.uk/news/business/news/three-are-sent-to-prison-for-defrauding-swiss-bank-of-22m-6295985.html