Police: investigation into failed loan deal to Northampton Town 'will not be completed in the near future'

Library picture of the East Stand when redevelopment work halted

Library picture of the East Stand when redevelopment work halted

10
Have your say

Specialist police investigators are examining more than 200,000 documents connected to failed £10.5 million borough council loan to Northampton Town, it has been revealed.

As councillors met this evening to discuss the PriceWaterhouseCoopers report into how the loan deal was set up, a spokesman for Northamptonshire Police said the investigation would not be completed "in the near future".

The spokesman said: “To protect the integrity of this long-term inquiry Northamptonshire Police do not routinely comment on our investigative activity.

“A dedicated team of vetted investigators, accountants and analysts‎ has been established to independently assess the grant, use and loss of the millions of pounds of public money.

“The PriceWaterhouseCoopers (PWC) report deals with just one part of an investigation that is unprecedented in its scale and complexity.

“This includes examining each public allegation for evidence of criminal activity and liability.

“In addition to speaking to witnesses and suspects, the investigators are examining more than 200,000 documents and thousands of financial transactions‎ to a forensic level.

“This sensitive and painstaking work is being conducted within a confidential environment, free from any outside interference or influence.

“We are committed to thoroughly and objectively investigating this matter. While this is a process which will not be completed in the near future, it is important to remember that neither criminal nor financial liability will diminish with time," he added.