Reading FC Bidder Fined £470,000 for Forging £170m Bond Portfolio
Reading FC's bid to buy the club from Dai Yongge hit a major setback after a bidder was fined £470,000 and banned from financial services for forging a £170m bond portfolio.
What happened?
Paul Taylor, a former Reading FC bidder, has been fined almost half a million pounds and banned from working in financial services for lying about his wealth. The Financial Conduct Authority issued the punishment today after finding Taylor guilty of using forged documents that purported to show he owned bonds worth around €200m (£171m).
Taylor attempted to use the documents as proof of funds for a £37m takeover of a UK bank in 2023 and his bid to buy financially stricken Reading from Dai Yongge in 2024. The managing director of Taylor’s company, Blue Horizon Asset Management, Esmeralda Toni, was also banned by the FCA and fined over £120,000.
Why it matters for Reading
The news comes as a blow to Reading FC, who are currently 12th in League One with 63 points from 46 games. The club finished 12th in the final 2025 table and are 40 points behind leaders Lincoln in the title race. Reading have scored 64 goals and conceded 60 this season, with a recent form of 0W-2D-3L (LLDDL).
What comes next?
The FCA has issued a stern warning to those working in financial services, stating that trust relies on honesty. The authority has vowed to take action against those who lie and deceive, and Reading FC will be watching with interest as the club looks to secure a new owner.
The Royals' new ownership, led by Rob Couhig and Todd Trosclair, will be hoping to put the club's financial difficulties behind them and focus on on-field success. With a recent result of Reading 0-1 Blackpool (2026-05-02), the team will be looking to bounce back and climb the League One table.
Goals this season: 64 scored, 60 conceded (+4 goal difference). Recent form (last 5): 0W-2D-3L (LLDDL, most recent first); lost the last 2.
