The Sons went into administration on Monday, November 18, with club officials saying they had “no option” after appointing Quantuma, a business advisory firm, to manage the process.
Police confirmed they received a report of suspected fraud last month involving a club in the area and that enquiries are ongoing.
A Police Scotland spokesperson said: “On Tuesday, October 29, 2024, we received a report of suspected fraud at a football club in Dumbarton.
“Enquiries are ongoing.”
The Scottish Professional Football League [national governing body] have also docked Stevie Farrell’s men 15 points, which puts them bottom of League One.
They are now below Inverness Caledonian Thistle who are also in administration.
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The most recent accounts for The Dumbarton Football Club, covering the year to May 31, 2023, show that the club was due to receive gross proceeds of £1,848,000 from the sale of land to a related party.
It sold a piece of land on April 29, 2021 to More Homes DFC Limited, a subsidiary of the club’s majority shareholder, Cognitive Capital. The balance of the £1,848,800 was due to be paid into instalments, of £300,000 in April 2023, and £1,548,000 in April 2026.
However, the total amount remains outstanding, note the accounts, which state that the recovery of the money is “dependent on the successful completion of a residential development on the land sold”.
The Sons have since launched a GoFundMe in a bid to raise £50,000 to help with club running costs including the wages for players and staff.
