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More troubles at Morecambe

The new independent football regulator could launch its first significant action after the troubled Lancashire club Morecambe appointed a senior executive who has been banned by Guernsey’s financial authorities for involvement in a fraudulent investment fund.

Steve Dewsnip, 59, was appointed by Morecambe as their chief operating officer on February 19. The announcement came only days before the club were handed a transfer embargo by the National League for failing to comply with its financial rules.

Dewsnip was director of a company which collapsed in 2016 leaving investors £37m out of pocket.  It was subsequently found guilty of conducting a fraudulent Ponzi scheme.   In August 2024 the Guernsey Financial Services Commission banned Dewsnip from involvement in a regulated entity.

Morecambe had hoped that last August's takeover by Punjab Warriors would end a difficult time for the Shrimpers who are fighting relegation from the National League.   They had been previously owned by Bond Group Investments headed by businessman Jason Whittingham who had previously owned the collapsed Worcester Warriors rugby club.

Last month the Bond Group claimed that it was still owed money from the takeover and the club was placed under a transfer embargo.


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