Corporate Finance

Goals Soccer Centres confirms fraud investigation into former execs

Goals Soccer Centres has confirmed it is questioning its former CFO, Bill Rogers, and its founder and former chief executive Keith Gow as part of ongoing investigations into an accounting scandal discovered earlier this year.

Last week, Goals Soccer Centres revealed the accounting scandal, which revolves around £12m in misdeclared VAT, has been caused by “improper behaviour” by individuals at the company dating as far back as 2010.

Gow co-founded the company in helped lead its flotation on the stock exchange in 2004. He later stepped down as CEO of the company in 2017.

In a statement Goals Soccer Centres said: “Following press speculation, the company can confirm that actions undertaken by Mr Gow and Mr Rogers while employees and directors of the company form part of the current investigations of the company into the mis-statement of historic financial statements.

“The company can confirm no finalised conclusions have yet been reached, although as stated in the 02 August 2019 announcement by the company it is clear inappropriate actions have taken place. Once the company has concluded its findings the directors, alongside its advisors, will take appropriate action and liaise with the appropriate authorities.

“The company will make further updates as appropriate.”

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