Cycle News is a weekly magazine that covers all aspects of motorcycling including Supercross, Motocross and MotoGP as well as new motorcycles
Issue link: https://magazine.cyclenews.com/i/487891
IN THE WIND P32 CWM FX CONTROVERSY T he other big money question in MotoGp hung over Lucio Cecchinello's LCR team, after its title sponsor—London on-line foreign exchange firm CWM FX—had 13 of the financial insti- tution's staff including big boss Anthony Constantinou arrested by City of London police on suspicion of money laundering and fraud. Expanded to two riders this year, the LCR team runs Cal Crutchlow on a Factory Option Honda RC213V, and class rookie Jack Miller on an Open category RC213V-RS production version. CWM had been offering five percent interest per month to investors, and a police spokes- man said the arrests were "to stop what we believe was ongoing criminality, and prevent people putting their money into CWM's managed funds." It is far from clear how this affects the online foreign ex- change side of CWM's busi- ness, and how it will affect the sponsorship; but significantly the firm's web site was promptly taken off line. It is believed that a significant chunk of the sponsorship has already been paid to the team, believed to be the first two million Euros of a total of some six million. While no guilt has been proved and all those arrested have been released on bail until September, there is the chance that fraud officers may seek the return of at least some of these funds, should investors require compensation for losses. Team owner Lucio Cecchinello was consequently guarded in his comments when interviewed, but said: "What is happening at CWM is not my concern, and I have no comments about the company. We are a racing team, and we normally fulfill our obligations. We have been in the paddock for 20 years, and we are serious people." Asked if he could afford to continue this season, he said: "From our side, I have no doubt we will do all 18 races, and finish the season with two riders." He had only heard of the prob- lem "at the end of last week", and he would be discussing the situation with his legal advisers upon return to Europe. In the meantime, "the lawyers have advised me to leave the advertising on the bikes." Thus the CWM logos remained, at least for now. Constantinou arrived in Qatar the day before the race. The team was launched at a lavish free-spending party in an exclusive club in London. CWM also sponsors the London Boat Show, a Rugby League club, and has a "partnership" with Chelsea Football Club. Michael Scott PHOTOGRAPHY BY GOLD & GOOSE CWM FX boss Anthony Constantinou attended the season opener in Qatar in the midst of the controversy surrounding the foreign exchange firm. FULL GAS QUALIFIER T he Kenda Full Gas Sprint Enduro Series (FGSE) has added a fifth round to its 2015 schedule, and it will also serve as the AMA East Coast Qualifier for this year's International Six Days Enduro (ISDE) in Slovakia. It is scheduled for May 2-3 at CJ Raceway in Newburg, West Virginia. The additional round will fol- low the same class structure and typical Full Gas Sprint Enduro two-day format with two spe- cial tests, including one grass track "cross test" and a woods loop "enduro test" that racers will compete on multiple times throughout the weekend. "When the AMA asked if we were interested in adding a round to be used as an ISDE qualifier, we jumped at the op- portunity," said FGSE series founder Jason Hooper. "Watch- ing two ISDE events in person is what sparked my interest in starting this series and I'm very excited to be a part of Team USA's qualifying process."