Redknapp 'squandered millions'
Published 28/01/2012 | 05:00
Harry Redknapp told police he could "blow your brains away" with the amount of money he had "squandered by trusting people" and that he had almost lost his house in one £8.5m (€10.1m) property deal, a court heard yesterday.
The Tottenham Hotspur manager put up his home in Poole, Dorset, as security for an £8.5m loan on the deal, which he later estimated had lost him around £6m (€7.15m). On another occasion he agreed to a £250,000 loan to a prospective buyer of Oxford United in order that it might help to keep his friend, Jim Smith, in the manager's job, only for the loan not to be repaid.
Mr Redknapp, on the fifth day of his trial for tax evasion, also told City of London police that there was no reason for him to "fiddle" his income tax.
"I'm not going to ruin my life, and my wife's life and my boys . . . to try and nick a few quid off the income tax? Why? I'm not into that. I don't need that. I'd rather give you a hundred grand than try and nick a few quid off you."
Yesterday afternoon Mr Redknapp met up with his Spurs team, ahead of last night's FA Cup fourth-round tie with Watford at Vicarage Road.
Mr Redknapp is accused, along with his former Portsmouth chairman Milan Mandaric, of two counts of cheating the public purse.
The prosecution allege that two payments totalling £189,000 (€225,000) from Mr Mandaric to Mr Redknapp's bank account on Monaco between 2002 and 2004 were undertaken in order to evade British tax authorities. (© Independent News Service)