Read this and it's easy to see why Coxhall and Co. didn't fall foul of the League's Fit and Proper Persons test:

https://www.theguardian.com/football/20 ... ship-rules

The owners’ and directors’ test is restricted to barring people who have been directors or owners during TWO football club insolvencies, or have an unspent criminal conviction for a criminal offence involving dishonesty. Criminal offences and football club insolvencies don't count if they happened before the test was introduced in 2004.

The High Court ruled that the Oystons asset stripped Blackpool to the tune of £26,770,000 after the club won promotion to the Premier League in 2010, including £11,000,000 taken out as a 'salary' - but they still own the club and haven't broken the EFL's rules!

I know the Oystons/Blackpool case has been aired on here before, but it's always worth remembering that the Football League has had years to tighten up the FPP test and still hasn't done it.

No wonder the Trust don't hold out much hope for the current police investigation. Unlike the Monkey Hangers, who were banged to rights for embezzling funds before they'd actually taken over the club, JPNG were the legitimate owners when they were handing out contracts to their 'associates' and generally having a fine old time playing with their new asset.

Sadly think you might be right, ultimately stealing but just within the boundaries of the law and certainly morally highly questionable