A-League news: Perth Glory sale, purchase, The London Football Exchange court case, LFE, Jim Aylward, Tony Sage

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The proposed purchase of Perth Glory has been thrown into disarray after it was revealed the potential suitors were sued in the UK High Court last week.

London-based cryptocurrency company The London Football Exchange (LFE), and its CEO Jim Aylward, are facing a $US2.2million (A$3.3m) lawsuit for partaking in ‘fraudulent misrepresentations’.

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Speaking on Perth-based radio station 6PR, Gareth Parker said: ‘The person who has brought the lawsuit, is an oil trader from Turkmenistan. His name is Murat Seitnepsov’.

‘Murat Seitnepsov alleges that LFE, Jim Aylward, and another man I will call The Representative, among other, have convinced him to part with $2.2 million US dollars on the basis of fraudulent misrepresentations.

‘According to the lawsuit, The Trader, and another man from LFE, The Representative, told Seitnepsov that they had big plans, to create a cryptocurrency and a community of football fans.’

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LFE are a company who generate revenue by selling crypto tokens to buy shares in football club — which could then be bought by supporters with their own tokens.

Last week it was revealed Perth Glory owner Tony Sage was travelling to England to finalise the sale of the A-League club to the investment group.

Now, though, the revelation of a potential lawsuit means the sale is on brink of collapse.

‘On a train trip from Zug in Switzerland to Lugano in March 2018, The Representative allegedly told Seitnepsov that he needed a further $1.8m ($3.5m) US dollars in loans to get everything LFE was trying to do up and off the ground,’ Parker told 6PR.

‘It is claimed he said he needed the money to pay legal fees associated with the purchases of shares in the football clubs.

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‘He needed the money to get the LFE Exchange –the crypto marketplace that was supposed to be where fans spent their tokens on football club shares, merchandise and tickets up and running. He also allegedly said he needed the money to get LFE a booth at a football expo in China.

‘The Representative & Jim Aylward went to the conference to man an LFE branded booth. To get there, they booked flights with a New Jersey travel agent. I’ve spoken to the travel agent, and she confirmed those flights – in total, worth $US14,000 ($27.4k) – were never paid for.

‘I have information that Jim Aylward… Is not his real name. My information is that his name is James Abbass Biniaz, born December 1979. And in 2010, James Abbass Biniaz was sentenced to 22 months prison for defrauding the UK tax office.

‘The judge, Daniel Worsley, described it as a sophisticated property fraud. James Biniaz, and an associate, a Glasgow waiter, claimed they’d sold a business property worth £600,000 ($1.2m).’

More to come!

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