Louis Tomlinson, known as the public figure behind a bid to take over his childhood club, aimed to elevate it into a football giant. However, the singer, part of the band One Direction, was unaware that some of the investors were convicted fraudsters who had swindled millions from people’s retirement savings. The fraudsters, Kevin Phelan, Daniel Giles, and Adrian Bashforth, face substantial prison terms for their actions.
Louis’ involvement with the gang began in 2014 through the club’s former chairman, John Ryan. A crowdfunding campaign was initiated by Louis to raise £6 million for the takeover from his extensive following of 36 million on X and 20 million online fans.
During the peak of One Direction’s fame in 2014, the fraudsters met Louis at his Cheshire residence. Louis signed a deal at a Dublin concert, agreeing to transfer 70% ownership of Doncaster to Sequentia Capital SA, based in Belize. The funds of the offshore firm were linked to stolen pension money.
Despite the crowdfunding efforts yielding only £600,000, mainly contributed by a company associated with the fraudsters, a deal was struck. It was revealed in court that Sequentia lacked the finances to finalize the takeover, and promises of substantial funding from Phelan were unfounded.
Louis expressed disappointment over the deal falling through, emphasizing his desire for the club’s success. There is no indication that Louis or Ryan were aware of the pension fraud. The gang members were found guilty of stealing £3.7 million from over 200 victims’ pension pots, with only £1.3 million returned to them. Sentencing is scheduled for January.