Fraud allegation at Leeds Arena operator

POLICE are investigating allegations of a major fraud at SMG Europe, the operator of Leeds’ First Direct Arena, TheBusinessDesk.com can reveal.

There have been no arrests yet, and inquiries are ongoing, a spokesman for Greater Manchester Police said.

GMP said:  “On 15 October 2014 police received an allegation of fraud. An investigation has been launched and enquiries are ongoing.”

Manchester-based SMG Europe, which is a subsidiary of US venue specialist SMG, operates arenas in Poland and Germany, as well as in York, Manchester, Newcastle, Belfast and Scunthorpe.
 
It has recently overhauled its senior management team after the departures of long-serving chief executive John Sutherland, finance director Alan Robinson and Manchester arena general manager John Knight,

No mention of any financial irregularities were made in the company’s 2014 accounts published last week. The accounts highlighted an “incredible first year” for its Leeds venue as the group grew revenue by 3.7% to £45.2m.

SMG Europe was not available for comment.