Europe's Leading Venue Operator Victim of 'Theft,' Possible Embezzlement Scheme

From Billboard

A police investigation is underway into allegations that SMG Europe, the largest operator of sports and entertainment venues in the United Kingdom and Europe, has been the victim of fraud.

The precise nature of the alleged crime has not been revealed, although Billboard understands that it was SMG Europe -- which is a wholly owned subsidiary of SMG whose headquarters are based in Manchester, England -- who initially alerted police about suspected wrong doing and that the fraud allegations center on the potential embezzlement of SMG assets by an employee or employees.

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