Ex-Soccer Players Sue St. James’s Place Over Tax-Avoidance Plan

A group of former soccer players, including ex-Chelsea player and television pundit Andy Townsend, sued St. James’s Place Wealth Management for advising them to make investments in British films that were later deemed tax-avoidance vehicles by U.K. authorities.

The case is being brought by 14 investors, with seven saying they were told to invest in British films between 2005 and 2006 without being made aware of the risks by a partner at St. James’s, a lawyer for the defendants said at a London court. The other seven claimants in the lawsuit are suing over pension-related investments made in small businesses. ...