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Ex-JJB Sports boss David Jones accused of forging bank statement to hide loan

The former executive chairman of JJB Sports Sir David Jones forged a bank statement to hide a loan of £1.5m, Leeds Crown Court has heard.

The former executive chairman of JJB Sports Sir David Jones forged a bank statement to hide a loan of £1.5m, Leeds Crown Court has heard.

The veteran retailer, who made his name turning around the Next stores, is accused of forging a bank statement to disguise the fact he had borrowed the cash from JJB founder Dave Whelan when he was heavily in debt “possibly due to gambling”.

Jones had already previously borrowed £1.5m from Sport’s Direct boss Mike Ashley.

Prosecutor Miranda Moore QC said Jones lied about both loans to the board of JJB Sports and, as a result, the company put out misleading statements at a time when they were trying to raise £100m on the stock market.

The court heard the company secured the £100m it needed because “the market was satisfied they were a good bet”, and as part of the flotation Jones secured a £100,000 bonus.

Jones denies two charges of making a misleading statement and one of using a false instrument.

Jones’ son Stuart Jones is accused of helping his father to forge the bank statement in 2009. He also denies the charge.  

The trial is expected to continue for five weeks.

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