Newcastle United fans are enjoying their moment in the sun. Riding high in the Premier League and with a cup final on the horizon, the good times are back on Tyneside. How different things could have been, however, had the Saudi Arabia Public Investment Fund (PIF), Amanda Staveley, Mehrdad Ghodoussi and Jamie Reuben never taken the reins at St James' Park.
As PIF's initial takeover bid stalled in 2019, other mysterious figures emerged out of the blue to try and free Newcastle of Mike Ashley once and for all. Some legitimate companies tried to purchase the Premier League outfit, while others used the saga to try and grow their brand or improve their personal image.
Newcastle fans woke on Friday morning to discover Henry Mauriss, of 2019 Newcastle takeover infamy, has spent the last seven months in a California jail after being charged with wire fraud. A report by the Athletic states Mauriss is due for release in April 2024 after being under FBI investigation for several years.
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The Bellagraph Nova Group also emerged as potential buyers in the summer of 2020. However, Nelson Loh, co-founder of the company, is also currently remanded in custody in his native Singapore over forgery offences.
So, what do we know about each case?
Henry Mauriss
Henry Mauriss arrived on the scene in 2019 as he emerged as a potential buyer for Newcastle. A £330m bid for the club did materialise, with the US businessman also offering to pay a 10 per cent deposit upon the exchange of contracts.
However, Mauriss' interest always felt unusual. There was next to no public interviews from the man himself, very limited knowledge of his business experience and a constant feeling among the fan base as though he wasn't a serious bidder. Three years on we have discovered there was good reason for those lingering doubts.
An investigation by the Athletic claims Mauriss has been under FBI investigation since 2016, with the bureau investigating allegations he operated 'a scheme for the purpose of fraudulently obtaining funds from investors', receiving more than $10million in the process.
The businessman is also said to have racked up unpaid bills worth hundreds of thousands of pounds to major British sports law firm Northridge Law during his attempts to buy Newcastle. Mauriss also failed to pay his staff on time, according to former employees, with some employees eventually providing the FBI with information in their investigation.
The report also shines a light on the small matter of Mauriss allegedly wanting to recruit Rolling Stones guitarist and artist Ronnie Wood to the Newcastle ownership team. As part of the deal, Wood would have received £3.3m worth of shares and a £500,000 sign-on fee and would also be expected to perform gigs at St James' Park 3-4 times per season.
After his failed attempts at buying Newcastle, Mauriss moved his attention to Sheffield United. This is where it gets even messier for the so-called billionaire, with the Championship club now suing 'Network S.A.', the vehicle Mauriss set up to acquire Sheffield United, over an unpaid deposit.
Mauriss has reportedly been jailed over wire fraud in California since July 2022. After initially accepting the charges against him, Mauriss is said to have attempted to withdraw his guilty plea, which was denied because he waived his right to appeal.
BellaGraph Nova Group
Another potential buyer who provided more questions than answers from the very start was the Bellagraph Nova group based in Asia. The company made the headlines in 2020 as they 'attempted' to buy Newcastle United for £280 million.
Co-founders Nelson Loh, Terence Loh and Evangeline Shen were hoping to take the reins from Ashley and shepherd Newcastle into a new era. However, from minute one red flags began to emerge.
Firstly there were concerns regarding seemingly manipulated photos used in the company's marketing campaigns. Famously, a mocked up image of the three protagonists posing with Barack Obama aroused suspicion.
Not much was known about Bellagraph Nova Group either, though it claimed then it had 31 business “entities” worldwide, with a group revenue of US$12 billion in 2019 and 23,000 employees.
The company never got passed the first stage of dealing with Ashley and things began to go south for the company in late 2020, when Nelson Loh, one of two cousins credited as the driving force of the bid, was declared bankrupt in a court in Singapore. He left the country at the end of 2020, leading Terence to claim he felt "betrayed" as an outstanding debt of over $14 million was still owed.
Fast forward to present day and Nelson Loh is also currently remanded in custody in Singapore. The 43-year-old was charged in December with forgery offences. He allegedly forged financial statements in 2019, and used them to obtain bank loans amounting to $18 million.
Those convicted of committing forgery in Asia, intending for the document forged to be used for cheating, can be jailed for up to 10 years and fined.
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