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The former Chief Executive and chairman of the London-listed owner of Ladbrokes are among the 11 people who have been charged as part of an investigation into offering gambling services in Turkey, in a rare example of British public prosecutors who bring criminal proceedings against a FTSE boss.
Justice officers said on Thursday that Kenny Alexander, Chief Executive from GVC until 2020, and Lee Feldman, former non-executive chairman, both was accused of conspiracy to cheat and to buy conspiracy. GVC renamed itself and follow the departure of Alexander.
The alleged violations with regard to offering gambling services in Turkey between 2011 and 2018, said the Crown Prosecution Service.
Alexander, a 56-year-old Scot, built GVC of a £ 26 million operator from one German casino in a global gambling group.
The criminal indictments against him were some of the first submitted by English officers against a boss of a FTSE-Genotated Company since the serious fraud office John Varley, the former boss of Barclays, accused in 2017. Varley denied the charges and was then obtained.
Since Alexander resigned, the gambling group has completed three CEOs and has struggled with a running share price compared to colleagues.
Entain is currently led by Stella David, who got into the CEO role earlier this year after the departure of Gavin Isaacs, who abruptly left the company in February after just five months.
Isaacs took on the role after the departure of Jette Nygaard-Andersen, who had come under fire from investors after having spent £ 2 billion in acquisitions. None of Alexander’s successors are accused of misconduct by public prosecutors.
Entain said that “it has not been charged and none of the accused persons is currently employed by the company or group”, adding that it had no further comments, because the case is the subject of current criminal procedures and reporting restrictions.
The first hearing in the case will take place on October 6 at Westminster Magistrates’ Court in London.
Matthew Frankland, a lawyer for Alexander, said: “We have been busy with [this] For almost six years and have tried to show why there is no good basis to charge our client. However, they have now taken an opinion [but] It will be defended powerfully. ‘
A lawyer for Feldman did not immediately respond to a request for comments.
Among those who also accused were the former financial chef Richard Cooper, 64, and James Humberstone, 52, another former director.
Robert Douglas Edwin Dowling, 50, from Horsham, West Sussex; Raymond Matthew Smart, 59, from Guernsey; and Richard Anthony Raubitschek-Smith, 49, Van Harpenden, Hertfordshire.
Scott William Masterton, 56, from Tetney, Grimsby, is also accused of fraudulent trade, cheating on public income and acting as director of a company when not bankrupt. Caroline Patricia Roe, 48, Stainsley, is also accused of fraudulent trade and fraudulent avoidance of income tax.
Alexander Macangus, 64, of Jersey, is accused of conspiracy to cheat and former legal director Robert Grant Hoskin, 54, of Gibraltar, is accused of strengthening justice in February 2024.
The CPS refused to provide lawyer details for the individuals.
Hannah von Dadelszen, Chief Crown’s public prosecutor at the CPS, said that prosecutors had worked closely with HM Revenue & Customs in the investigation.
Richard Las, director of HMRC’s Fraud Investigation Service, said in a statement: “These are serious charges that relate to conspiracy to cheat, bribery, cheating on public income, evasion of income tax and strengthening the law, among other things.”