[ad_1]
James Stunt told his £266million money-laundering trial today he held large amounts of cash due to his gambling habit – and once even gave his mother-in-law £500,000 in bills to help him buy a £2million Monet painting.
The former husband of Formula 1 heiress Petra Ecclestone is accused of being at the centre of a money-laundering operation which involved the transfer of tens of millions of pounds in cash between his company and NatWest bank.
Stunt, 40, told a jury at Leeds Cloth Hall Court today he habitually held large quantities of cash for gambling and even had a ‘strong room’ in his Los Angeles marital home.
He said it was ‘my cash’, claiming: ‘It was predominantly gambling winnings tax-free from a casino.’
Stunt told the court sometimes he would ‘gamble’ with his former father-in-law Bernie Ecclestone, the Formula 1 tycoon, saying: ‘He would pay me cash rather than a bookie.’
James Stunt, 40, the former husband of heiress Petra Ecclestone, has been accused of being at the centre of a £266million money-laundering operation (Pictured: Stunt arriving with new girlfriend Helena Robinson at Leeds Cloth Hall Court on Wednesday)
Stunt pictured with his then fiancee Petra Ecclestone in 2011
Stunt told a jury at Leeds Cloth Hall Court that he habitually held large quantities of cash for gambling and even had a ‘strong room’ in his Los Angeles marital home (pictured)
On one occasion in 2012 Stunt allegedly provided mother-in-law Slavica Ecclestone (pictured with Bernie Ecclestone) with £500,000 cash to help him buy a £2million Monet painting. She was needed to help as she was a Swiss resident, he said
The socialite, who previously described himself as the ‘world’s second biggest gambler’ said he went to all the top casinos in London.
‘I had a £5million credit line in every casino in London and Las Vegas,’ he told the jury.
And he said cash was readily available to him. In 2012, he provided his mother-in-law Slavica with £500,000 in cash to help him buy a £2million Monet painting. She was needed to help as she was a Swiss resident, he said.
The tycoon was asked about his company’s ‘joint venture’ with Bradford-based gold bullion dealer Fowler Oldfield.
Stunt said under the deal, he kept 70 per cent of profits because ‘we had the money’ and Fowler Oldfield, who were ‘bringing customers’ for the gold business, were entitled to 30 per cent.
The court heard Stunt’s business plan was to source ‘raw’ gold and turn it into high-quality gold bars using a refinery in Sheffield.
The prosecution claim the operation used criminal cash that passed through the offices of Stunt and Co and into the NatWest bank account of Fowler Oldfield and that it was a money-laundering scheme to turn that ‘dirty cash’ into untraceable gold.
Although he allowed his business partners Greg Frankel and Alexander Tulloch to use his two apartments at Chelsea Harbour rent-free, he insisted there was nothing criminal about it and that being generous was just ‘who I am’.
Heidi Buckler, 45, Greg Frankel, 44, Paul Miller, 45, Haroon Rashid, 51, Daniel Rawson, 45, Francesca Sota, 34, Stunt and Alexander Tulloch, 41, all deny money-laundering. Stunt and Sota also deny forgery.
The court heard that Stunt’s business plan was to source ‘raw’ gold and turn it into high quality gold bars using a refinery in Sheffield (Pictured: Stunt arriving with new girlfriend Helena Robinson at Leeds Cloth Hall Court on Wednesday)
Stunt (pictured with Petra and Bernie Ecclestone) has denied the allegations of money laundering and forgery
During last week’s proceedings, Stunt sensationally addressed the size of his genitals and insisted that ‘I don’t think we need to get the microscope out’ when giving evidence for the first time.
He said despite coming across as a ‘glammy moron’, he also had a ‘hyperintelligent’ understanding of business.
The businessman admitted to jurors how he ‘played up’ to his image and enjoyed ‘living it up’.
‘Having your life laid bare like this, we have to examine the good, the bad and the ugly, and I do play up to the public image sometimes, but there’s also insecurity’, he told the court.
‘People say about me, “you must have the smallest penis in the world” and there must be some truth in that, metaphorically speaking – but I don’t think we need to get a microscope out.’
He also said he and his ex-wife used mobile phones to communicate in their Los Angeles mansion because it was ‘so massive’ – as the court was shown a photo of the grinning socialite posing with King Charles.
The court had heard of Stunt’s various associations with the King in the past.
He told the court that the then Prince of Wales had written a eulogy for the funeral of Stunt’s older brother Lee, 37, in 2016, which was read out at the service.
The court was previously shown a picture of James Stunt with the-then Prince of Wales, Charles, which the defendant said was taken either at Clarence House or St James’s Palace
Stunt’s many charitable donations included £65,000 to the Prince’s Trust and £50,000 to Dumfries House.
He told the jury he once leant office space to his friend Sir Michael Peat, Charles’ former principal private secretary.
Asked about the photograph by his barrister Richard Fisher KC, Stunt said he could not be sure exactly when it was taken but confirmed it was between 2014 and 2016, the period covered by the criminal indictment.
He said: ‘That’s now King Charles III, was the Prince of Wales. It was taken either at Clarence House or St James’ Palace.
‘I can’t be sure which, but not Buckingham Palace. I visited Buckingham Palace, but that wasn’t this occasion. There is more than one photo of me and His Majesty’.
The trial continues.
[ad_2]
Source link
