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Eagle Football Group, Olympique Lyonnais file criminal complaint over finances under previous management

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PARIS, June 8 : Eagle Football Group SA, the holding company behind Olympique Lyonnais football club, said on Monday it had filed a criminal complaint with the public prosecutor of Lyon over hundreds of millions of euros in financial flows performed under the soccer club’s previous management. The complaint may constitute offenses of misuse of corporate assets, aggravated misuse of corporate assets, complicity thereof, presentation and publication of misleading financial statements and dissemination of misleading information to the market.

• The complaint was made following an internal investigation that is still ongoing.

• “It concludes that there was a deliberate disorganization of the company’s operations, coupled with systematic opacity in financial management. The report also singles out hundreds of millions of euros in financial flows seemingly executed without economic justification, moreover in times of acute cash-flow crises and delays in the payment of social security contributions,” the group said in a statement.

• Olympique Lyonnais, crowned French champions seven times between 2002 and 2008, was relegated to Ligue 2 following an audit of its finances, though that decision was overturned on appeal.

Source: Reuters

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