Dan Snyder allegedly committed Bank Fraud with NFL assisting in Coverup

[Sassy Squatch]

Wow. The Washington Commanders three minority owners allege Dan Snyder committed bank fraud in securing a $55 million loan without board approval, the NFL made it go away, and now a federal grand jury is looking into it, according this bombshell by @DVNJr https://t.co/MPCEeS6Kqv

— Kevin Van Valkenburg (@KVanValkenburg) February 28, 2023

Daniel Snyder's final breakup from his longtime minority partners in Washington's NFL franchise began with a footnote in an April 2020 financial report.

The note revealed a $55 million credit line the team had taken out 16 months earlier without the knowledge and required approval of Snyder's minority partners -- the three billionaires who owned 40% of the franchise, according to documents obtained by ESPN.

The secret $55 million loan has become a primary focus of federal prosecutors in Virginia who are investigating allegations of financial misconduct by Snyder and the Washington Commanders, multiple sources with firsthand knowledge of the inquiry told ESPN.

A federal grand jury has issued subpoenas for a cache of documents related to the team's finances, including the loan. Prosecutors acquired the partners' NFL arbitration petition and other supporting materials, including emails and letters between team executives and bank lawyers, documents show. The criminal inquiry is being led by a team of FBI and IRS agents, sources said.

During a confidential arbitration, the former partners demanded that the NFL investigate the origin of Snyder's loan. But neither NFL commissioner Roger Goodell, whose signature granted league approval for the team to take on the new debt, nor the NFL arbitrator investigated the partners' allegation of financial wrongdoing, according to hundreds of pages of confidential NFL arbitration documents obtained by ESPN and more than a dozen interviews.

Loans and lines of credit obtained without the approval of Washington's board of directors violate the team's shareholder agreement, according to the documents. The documents also show Bank of America officials asked team executives repeatedly for proof that the board had approved the loan. But the team executives never turned over a copy of the board approval before the loan closed, and one team lawyer later acknowledged in a letter that the board approval doesn't exist, documents show.

Four days after the partners pressed the NFL arbitrator to seek proof that the loan was legally obtained, the documents show, the NFL moved to shut down arbitration proceedings. The partners begrudgingly agreed to mediation, led by Goodell, sources familiar with the matter told ESPN. The mediation resulted in the partners selling their shares, and it silenced their complaints against Snyder, the sources said. The NFL never conducted the partners' requested investigation of the loan, and the league levied no sanctions against Snyder related to the allegations of financial misconduct.

One source with firsthand knowledge of the proceedings told ESPN the partners believed Goodell and NFL general counsel Jeffrey Pash sided with Snyder over them.

"Three billionaires -- not a few whistleblowers -- alleged to the NFL arbitrator that their partner had possibly committed bank fraud," the source said. "This is jail time type of fraud. The NFL owes them as much of a fair shake as it owes Snyder. And the league had no interest in finding out what happened. They buried it and didn't investigate it and covered it up."

[Bump]

at this point it's time to get new leadership in the NFL

[Kiimo]

Now this, this is the real NFL conspiracy theory you should subscribe to.

No it isn't scripted. Yes it is a bunch of billionaires acting like garbage.

[BWillie]

Meh

[ThyKingdomCome15]

I cared more when the Redskins changed their name.

[ChiefsFanatic]

Originally Posted by Cave Johnson

It’s BAD for Goodell.

He personally signed off on the fraudulent loan. He’s intimately involved in both the crime and coverup.

Enjoy getting deposed by an AUSA, ****stick.

In the Owners' eyes, it means Goodell would break the law to make them even richer, so they DGAF, and let's face it, most ultra wealthy people do not get prosecuted for financial crimes, so Goodell probably has nothing to worry about.

Sent from my moto g stylus 5G using Tapatalk