Socialite bankrupt within year after assets frozen during money-laundering probe
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Socialite James Stunt became bankrupt and shut himself away “like Howard Hughes” after his assets were frozen during an investigation into alleged money laundering, a court heard. The former son-in-law of F1 tycoon Bernie Ecclestone is one of five men on trial over an alleged multimillion-pound scheme to turn criminal cash into untraceable gold.
Prosecutors say Stunt, 42, who was married to Mr Ecclestone’s daughter Petra for six years, allowed his prestigious Mayfair office to be used as “a trusted hub for money laundering” as part of the alleged network, which saw £200 million from the proceeds of crime laundered over two years.
Jurors have heard that between 2014 and 2016, cash was brought from all over the country to Bradford gold dealer Fowler Oldfield, Stunt’s business premises in London, and a Hatton Garden company called Pure Nines Ltd. The defendants are accused of hiding the origin of the money by washing it through a company bank account and using the proceeds to buy gold, which was shipped to Dubai.
As Stunt’s defence case started on Tuesday, Leeds Crown Court heard that after an investigation into the alleged criminal network, a restraint order imposed by a judge in August 2018 froze “all (Stunt’s) worldly goods”. Stunt confirmed when asked by his barrister Trevor Burke KC that he was given 28 days to disclose his worldwide assets to the court, which included eight cars, six properties, “money in various accounts in various parts of the world”, more than 100 works of art and £30 million in rare wines.
