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Council launches possession proceedings for home of disgraced football chairman

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  • 09/10/2019
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Council launches possession proceedings for home of disgraced football chairman
Northampton Borough Council has opened possession proceedings against David Cardoza, the former chairman of Northampton Town Football Club.

 

The council handed the club a loan worth £10.25m, which was supposed to go towards redeveloping its stadium.

However, a police investigation is now ongoing into whether some of those funds were ‘misappropriated’ – as the council claims – with Cardoza and his wife accused of using the money to rebuild their home.

At the start of the year the Cardozas, as well as David’s father Anthony, were ordered to hand back more than £2m of the initial loan by Birmingham High Court. 

While that rebuilt home has since been sold by the Cardozas, Northampton Borough Council has now launched proceedings for the sale of their current property. The address of this property has been kept confidential due to security concerns.

In its published enforcement strategy update it said it intends to reclaim almost £366,000 through the possession of the property, though this is being defended by Christina Cardoza.

The council said: “Ultimately, the council’s charge in the property is safe but it will be unable to obtain access to the funds without an order for sale of the property and this is being progressed vigorously.”

The council also believes that some of the funds from the loan were used by a company called Artefact Property Investments to purchase properties in Milton Keynes. 

It stated: “An informal valuation suggests that the two properties are worth in the region of £680,000. Action is being taken to secure the maximum recoverable equity in the two properties referred to above.”

 

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