Socialite tells money laundering trial he never agreed to ‘criminal enterprise’

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Socialite tells money laundering trial he never agreed to ‘criminal enterprise’
Author: Katie Dickinson
Published: Jan, 15 2025 16:50

Socialite James Stunt told his money laundering trial he never suspected he was “entering into a criminal agreement” when he went into business with a Bradford gold dealer. 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 jewellers 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.

On Wednesday, Stunt told Leeds Crown Court he had started his business, Stunt & Co, as a gold bullion dealer and that the plan was to source raw gold and turn it into high-quality gold bars. The court heard he built a refinery in Sheffield, where he was introduced to Fowler Oldfield owners Daniel Rawson and Greg Frankel by a contact at the Sheffield Assay Office, who introduced them as a “very respectable” supplier of scrap gold.

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