U.S. soccer investor fighting extradition from Spain, wanted on multiple allegations of fraud Prominent multi-club investor Paul Conway has been in a Barcelona prison for more than five weeks and is fighting extradition to Belgium, where he is wanted for questioning in relation to six allegations of fraud linked to the 2024 bankruptcy of KV Oostende. The American has strongly denied any wrongdoing and his wife has described the experience as a “nightmare”, likening it to a scene from Victor Hugo’s novel Les Miserables. Conway, 55, is the co-owner of Pacific Media Group (PMG), a Hong Kong-based sports and entertainment firm that combined with other Chinese and U.S.-based investors to build a stable of European clubs that numbered seven at its peak. He has either sold or lost control of three of those clubs now, though, with Oostende being his most acrimonious exit, as a local administrator seized control in early 2024 but could not prevent the Belgian side from collapsing that summer. The club’s demise, however, sparked an investigation by the Belgian federal police’s Sports Fraud Team and, in March this year, an investigating judge at the District Court of West Flanders issued a European Arrest Warrant (EAW) for Conway. It was done “in absentia”, which means the Florida-based Conway was not present. As a result, Conway was blindsided when he was arrested on arrival in Spain on May 20 for a short non-football-related business trip. He was immediately taken into custody and had his first court hearing, via video link, with a judge in Madrid the following day. KV Oostende went bankrupt in 2024 (Kurt Desplenter/Belga Mag/AFP via Getty Images) His lawyers managed to block his immediate transfer to Belgium, but he has remained in prison while the legal arguments have continued, causing great concern to his family and friends. Speaking to The Athletic, his wife, Louisa Conway, explained that the first she knew of it was when her husband’s Spanish lawyer informed her. She had been expecting him to return to Florida on May 23 to take one of their daughters on a college-visiting tour. “It was a shock and the beginning of a nightmare for our family,” she said. “Paul has no criminal record, so we struggle to comprehend why the Belgian government issued the EAW. “The best way to describe this nightmare is to say it’s like waking up in Victor Hugo’s Les Miserables, where a person is thrown in jail for stealing bread. No facts, just emotional allegations.” This is a reference to the family’s view that the Belgian authorities want a scapegoat for the death of a community asset that was much loved but had been in well-publicised financial difficulties before Conway’s group of investors arrived, then went bust after they were removed from power. While there is no disputing how unpopular Conway was by the end of his time at Oostende, he was initially greeted as a saviour. The Belgian police and investigating judge have not responded to requests for comment. The EAW outlines the six crimes it believes Conway may have committed, with the central allegation relating to Oostende’s 2021 purchase of striker Mickael Biron from French team AS Nancy, another of the clubs in the PMG portfolio. Biron, now 27, cost a reported €5million (£4.25m), but was promptly loaned back to Nancy and then sold to Belgian team RWD Molenbeek a year later for €2.5m. The initial transfer raised eyebrows and many Oostende fans thought it was done to boost Nancy’s finances when they were struggling to obtain a licence to continue as a professional side in France. The EAW explains that the football fraud squad were alerted to the issue by a July 2022 article in Belgian newspaper Het Nieuwsblad. The EAW also refers to other “unusual costs” incurred by Oostende for Nancy’s benefit, as well as a €1m (£850,000) payment made to a French law firm’s client account that was later “partially reimbursed” by some of Nancy’s shareholders. Conway’s family, however, in strenuously denying his involvement in any possible fraud, point out that Conway never had sole control at either Oostende or Nancy and his personal shareholdings at the clubs amounted to 7.5 per cent and 2 per cent, respectively. They also note that Oostende’s local shareholders appear to be blaming PMG for the collapse of a proposed rescue by a group led by Mark Campbell, a British businessman who had previously failed with bids to buy Stirling Albion, Sunderlandand West Bromwich Albion in the UK. As previously reported by The Athletic, Campbell was declared bankrupt in 2010 and has been involved with dozens of dissolved businesses in England and Spain. Describing the Belgian authorities’ action as “mind-boggling” and “an arbitrary abuse of power”, Louisa Conway believes they are “weaponising their judicial system to settle financial disputes related to a bankrupt soccer club”. “(They) have the right to conduct an investigation into Oostende’s bankruptcy, but, oddly, they have only issued one arrest warrant,” she said. “The club had a board of directors, which my husband was a member of between 2020 and 2023, and it was managed by several locals. Why is the Belgian management team not under investigation (too)? “Belgium’s use of the EAW here is truly frightening, and they have incarcerated my husband on the musings of a blogger. If they want to investigate, that’s their prerogative. But why not call him? Why issue this arrest warrant? “I still cannot believe this mess is emanating from Belgium, the ‘heart of Europe’, a land of diplomacy and cooperation. The USA needs to pay close attention to how American business people could be wrongfully detained by these EAWs.” While her anger at her husband’s plight is understandable, there will be fans at the clubs Conway has invested in who will be thinking there is no smoke without fire, although Conway has strongly denied any wrongdoing. PMG, which is co-owned by Hong Kong-based businesswoman Grace Hung, first teamed up with Chinese-American hotelier Chien Lee to buy a majority stake in OGC Nice in 2016. A year later, after looking at several other British clubs, it bought struggling Championship side Barnsley, with famous Oakland Athletics executive vice-president Billy “Moneyball” Beane joining the investment group. Barnsley were relegated that season, but Nice enjoyed some success and PMG and Lee’s New City Capital were able to quadruple their initial investment when they sold the French club to Sir Jim Ratcliffe in 2019 for €100m (£85m). But it is what they did with that money over the next three years that catapulted them to wider attention, as they bought stakes in Swiss side FC Thun, Oostende, Nancy, Danish team Esbjerg, Den Bosch in the Netherlands, Germany’s Kaiserslautern, and GKS Tychy in Poland. In 2021, with Oostende flying high in the Belgian top tier and Barnsley reaching the Championship play-offs, it looked like the group’s strategy of playing high-energy, hard-pressing football, with German coaches and young players, was working. The aim, Conway freely admitted, was to fund the group’s activities by regularly selling its best young talent. However, problems hit in 2022 when Barnsley, Esbjerg and Nancy were all relegated in varying states of financial difficulty. The ownership group, which had evolved as more clubs were added, also started to fracture. Conway and Lee were pushed out at Barnsley in 2022 — and later fined by the EFL for failing to fully disclose who all of their partners were in 2017 — and lost control at Esbjerg in 2024, the same year they sold their Den Bosch shares to a Chinese group. With Oostende declared bankrupt last summer, PMG now only holds tiny stakes in Barnsley and Nancy, and larger but not controlling stakes in Kaiserslautern and Thun. These four clubs are on firmer footing, but there is little sign of them operating as a multi-club group anymore. In the meantime, Conway is approaching his 40th day in custody, while lawyers in Belgium, Spain and the U.S. argue about his fate.
Update from previous post Our Paul Conway's middle name is Matthew. His LinkedIn says he lives in Miami florida. His wife is called Louisa. Paul M Conway and Louisa Conway: Miami, florida Article about Louisa Conway of The Emeraldbay, key Biscayne, miami, Florida... Louisa Conway testimony sought in Key Biscayne condo suit byTony Winton and John Pacenti August 13, 2023 Louisa Conway, a leader of the EmeraldBay condominium, speaks at a Key Biscayne Village Council meeting July 21, 2021. Conway is being required to testify in a lawsuit brought by the Key Colony Homeowners' Association in a dispute over payment of common charges (KBI Photo/Tony Winton) Louisa Conway, a politically active Key Biscayne condominium leader, is facing a demand to testify in a civil deposition later this month in a lawsuit between warring condominium associationsin one of Miami’s toniest apartment complexes. Conway is also under a demand to produce a sweeping set of documents including financial records, internal emails and text messages between board members and current and former employees. The deposition is aimed at probing why Conway’s building, EmeraldBay, stopped paying tens of thousands of dollars in common charges to the master association. The deposition was set prior to thearrest of a former EmeraldBay managerwho is facing grand theft and fraud charges. Maria Rodriguez, who reported to Conway and the Castle Group property management firm, is accused of siphoning unit owner maintenance fees into a business she created in 2015. Rodriguez herself was subpoenaed to give sworn testimony in the lawsuit, but the session was abruptly canceled Thursday by the master association less than three hours before she was set to appear . Rodriguez has not entered a plea according to the court docket, but all defendants have a presumption of innocence. Her attorney has declined comment. The Key Colony Homeowners’ Association manages the front entrance, ocean beach, roads, saunas, and tennis courts. It claims in the lawsuit EmeraldBay is breaching an implied contract that has existed for decades, in which the four Key Colony buildings pay the full maintenance fees for all 1,179 owners. In turn, the buildings then pass along those charges to their residents. The system means owners only pay one maintenance bill, but it also means that the buildings are “fronting” the master association’s costs when owners are delinquent. Starting in November, the HOA says EmeraldBay has only been paying a portion of those common charges. EmeraldBay says it should not be responsible for owners who are delinquent. At one point, it had an outstanding balance of more than $320,000, according to the HOA’s records, but General Manager Pedro Penate said the current outstanding amount is now closer to $170,000. Messages were sent to Conway and to EmeraldBay attorney Craig Minko for comment on this story, but there was no response. Conway’s testimony could be critical. A Nov. 14 email from EmeraldBay informed the HOA that “payment has been placed on hold by our Board President, Mrs. Conway". Conway has cut a prominent –though some would say polarizing –political path in Key Biscayne for years. She has publicly sparred with other Village leaders, most notably former Mayor Mike Davey, and campaigned against a $100 million resiliency bond issue as part of an unsuccessful 2020 run for Village Council. In the last election cycle, Conway helped lead a drive against several amendments to the Village Charter, succeeding on some and losing others, and was a vocal supporter of mayoral candidate Fausto Gomez Gomez was a colleague of Conway’s on the Key Biscayne Condominium President’s Council. She also is the treasurer of a registered island political committee, the Key Biscayne Lightkeepers. The dispute between the two associations means EmeraldBay owners are, in effect, suing themselves. Penate said the HOA’s legal fees to date have been about $15,000, but that’s before the deposition and an upcoming court hearing. Because EmeraldBay owners are also members of the HOA, they could wind up footing a portion of the bill for both the HOA’s case and EmeraldBay’s defense of it. In addition to Conway’s deposition, scheduled for Aug. 30, there is an Aug. 24 court hearing that could significantly alter how the case plays out. The HOA is asking a judge to strike EmeraldBay’s “affirmative defenses,” a legal move that –if granted – could limit EmeraldBay’s ability to make certain arguments. https://kbindependent.org/2023/08/13/louisa-conway-testimony-sought-in-key-biscayne-condo-suit/
“TheEAW outlines the six crimes it believes Conway may have committed, with the central allegation relating to Oostende’s 2021 purchase of striker Mickael Biron from French team AS Nancy, another of the clubs in the PMGportfolio. Biron, now 27, cost a reported €5million (£4.25m), but was promptly loaned back to Nancy and then sold to Belgian team RWD Molenbeek a year later for €2.5m. The initial transfer raised eyebrows and many Oostende fans thought it was done to boost Nancy’s finances when they were struggling to obtain a licence.” I think his transfer dealings at Barnsley need investigating
Would be a good point for the FAB to raise with the club. "Given the tenacity of the Oostende blogger and investigators in chasing answers to Conway's role in their demise, can the board give any update on if BFC are pursuing similar lines of enquiry around the blatantly obvious dodgy dealings around definitely one, possibly two Belgian signings and our subsequent perilous financial position"
The Les miserable analogy used by his wife is a bit odd , whilst it’s harsh to imprison someone for stealing bread , they still stole bread . The implication being she admits he’s done something illegal .
It not a coincidence is it that 3 of his European clubs, were all relegated to their own countries Third Division, in the same season. And one of those clubs of course, was us!. Mr Cryne was sadly running out of time when he sold the club to them. But I'd like to know just how they came across as buyers, and what sort of things they told him.
I suspect that pc was taken in largely by the addition of billy beane who was a stats guy like James. It appears from how quickly he departed that he was nothing more than a bargaining tool to pull the wool over his eyes.
Patrick wasn’t taken in by anyone he got the price he wanted , he knew who he was selling to , they didn’t see Patrick coming he saw them
Yeah I'm guessing that they told mostly lies, and did their best to exploit the situation. And Id better say "allegedly" here, just in case!.
Quick question When they stick him on the mini bus / plane from Spain to Belgium and he looks out from his seat ...Will fans from all his clubs think ... You know what Thats the best Transfer window Conways ever, over seen
