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A BUSINESSMAN exposed for using the services of a convicted money launderer in an attempt to take over Sheffield Wednesday has been declared bankrupt.

Geoff Sheard, who used a fake letter from an offshore Caribbean bank in his bid for control at Hillsborough, was also reported to be fronting a later bid to take over Newcastle United.

Mr Sheard’s involvement with Sheffield Wednesday ground to a halt in late 2008 after the Yorkshire Post revealed a bank letter sent to the club claiming that 100 million euros was available for investment was actually produced by crooked financier Richard Frank Downes. He was sentenced to 33 months in prison in the US after an FBI sting trapped him while attempting to launder hundreds of thousands of dollars.

The Dominican Republic bank which was said to hold the funds for the Sheffield Wednesday takeover was not operational and had no account holders and no money.

Just saying keep it real

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