Footballer's agent 'siphoned money'
Published on Mon Mar 07 18:37:15 GMT 2011
A former Middlesbrough FC footballer has told a jury how he discovered hundreds of thousands of pounds missing from a bank account, allegedly "siphoned" off by his "dishonest" agent.
Stewart Downing, 26, told York Crown Court how he discovered just £11,000 in one of his business accounts, which should have contained £600,000 to £700,000.
The court was told the money was allegedly siphoned off by his agent Ian Elliott to prop up his failing business projects.
The court heard Elliott, 53, had represented Downing since the midfielder signed his first contract with the North East side aged 15.
Downing told the court he trusted Elliott with all his business dealings, but the relationship turned sour in January 2007 when Tottenham Hotspur were said to be interested in the player during the Premier League's transfer window. The court was told Elliott had leaked details of Tottenham's interest on a local radio station.
Downing described the transfer speculation as "unsettling" and he said he no longer trusted his agent and decided to check a bank account, trading as Stewart Downing Promotions Ltd. He told the court: "I discovered a lot of money missing."
The court was told Downing, who now plays for Aston Villa, had trusted Elliott with all his contract negotiations at Middlesbrough, including image rights.
It is alleged that Elliott committed fraud by falsely claiming Downing consented to him becoming a director of Stewart Downing Promotions Ltd, and requiring Downing to sign a two-year contract without telling him that its terms were inconsistent with an earlier contract.
It is also alleged that Elliott created a consultancy agreement that purported to entitle him to £100,000 per year, backdated to 2004, and created false invoices for money supposedly owed by Stewart Downing Promotions Ltd to two companies, Elliott Sports Management Ltd and Waveclean Ltd, trading as ESM Interiors.
Elliott, of Foxhills Covert, Newcastle, denies all the charges. The trial, which is expected to last three weeks, was adjourned until Tuesday.
The Banbridge Leader - Clicky
