Ex-JJB Sports CEO Jailed Over £1m Fraud

The former boss of JJB Sports has been jailed for four years, after pocketing around £1m in what was described as a "very greedy fraud".

A court heard that Chris Ronnie, 52, owed more than £10m to an Icelandic bank when he diverted funds from suppliers going to the sportswear firm.

Ronnie, who lived in Wilmslow, Cheshire, then used some of the funds to buy property in Florida.

He was found guilty last month of three separate fraudulent payments when he was in charge of the company in 2007 and 2008.

Each of the diverted payments was a six-figure sum and they were not disclosed to the company's board.

Judge Nicholas Loraine-Smith told London's Southwark Crown Court: "This was a flagrant and disgraceful breach of your duty as a CEO of a public limited company."

Ronnie did not give evidence in his defence during the trial and after nearly 35 hours of deliberations jurors delivered a unanimous guilty verdict.

The Serious Fraud Office began investigating the case after receiving a tip from a computer engineer who was asked to delete any trace of emails related to the Icelandic loans.

JJB Sports, which was founded in 1971 by footballer Dave Whelan, entered administration in 2012.

Two business partners of Ronnie were also convicted of perverting the coure of justice, as they helped him conceal the fraud.

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