Chris Ronnie, the former chief executive of JJB Sports, has been convicted of taking £1m in backhanders and investing it in US property.
At the finale of a five year investigation by the Serious Fraud Office, Ronnie was found guilty of fraud over three six-figure cash payments made to him by suppliers during his tenure as chief executive between 2007 and 2009.
The payments were partly used by Ronnie to invest in real estate in Florida, notably a four-bedroom bungalow, with pool, on Sarasota Bay, which he bought for $880,000 in cash in 2008.
JJB Sports collapsed in 2012 with the loss of 3,000 jobs.
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