The socialite ex-husband of Formula One heiress Petra Ecclestone has gone on trial accused of being part of a £266 million ($333m) money-laundering operation.
James Stunt is one of eight defendants charged with money laundering involving depositing cash into the account of gold dealer Fowler Oldfield.
Prosecutor Nicholas Clarke QC told the court it was “blindingly obvious this was criminal cash” — hundreds of thousands of pounds carried in sports bags and holdalls and paid in on a scale similar to the takings at an English Premier League football club on match day, he said.
Police launched Operation Larkshot to investigate money collected from three sites — Fowler Oldfield's own premises, Mr Stunt’s office in central London and a company called Pure Nines, also in London.
Five accused from Fowler Oldfield — Greg Frankel, Daniel Rawson, Paul Miller, Heidi Buckler and Haroon “Harry” Rashid — all claim the prosecution cannot prove that any of the cash was criminal property.
The other accused — Mr Stunt, Alexander Tulloch and Francesca Sota — say they “don't know whether it was”, Mr Clarke said.
“The prosecution say this is nonsense,” said Mr Clarke, opening the case at Leeds Cloth Hall Court on Tuesday.
“Each of them must at the very least have suspected that the source of the money was criminal in origin — it could not have come from a legitimate source and no legitimate source has ever been identified for it.”
The prosecution say cash from “a lot of criminal activity” was collected together and taken to Fowler Oldfield jewellery business in Bradford, West Yorkshire.
They were in volumes that exceed collections from busy high street banks
Nicholas Clarke QC
Prosecutors say the cash was taken to business addresses owned or managed by the defendants between January 2014 and September 2016.
“These defendants then hid its origin by washing it through a company bank account and using the proceeds to buy gold,” Mr Clarke said.
He told jurors the payments aroused the suspicions of bank staff because “they were of such an amount, on a daily basis, as may come from a Premier League football stadium on a match day or similar size venue or event” .
“They were in volumes that exceed collections from busy high street banks," Mr Clarke said. "The payments were getting much bigger in 2016.
“On some days, well over £1m in used notes was being paid into the Fowler Oldfield account.”
Cash allegedly used to buy gold
The account was referred to police, who found that in August and September 2016, daily cash deposits ranged between £787,540 and £2,424,380, with an average of £1,706,823, jurors heard.
The wider investigation discovered that from January 1, 2014 until September 16, 2016, more than £266m in cash and unknown deposits were paid into the Fowler Oldfield bank account.
The court heard that after the cash had credited the bank account, it was transferred mainly to two Birmingham gold suppliers, Cookson Precious Metals Limited and Metalor Technologies (UK) Limited to buy the precious metal.
And £46m was transferred into an account in the name of James Stunt's company, Stunt & Co Ltd, the court was told.
Mr Clarke said security camera footage appeared to show that in August and September 2016, couriers from all over the UK attended Fowler Oldfield with heavy bags full of cash.
The court heard Fowler Oldfield was a small family jewellery company that used to buy, in relatively modest amounts, scrap gold from the jewellery trade which would then be melted down or refined into larger amounts.
But Mr Clarke said: “There was a dramatic transformation as Fowler Oldfield moved from that legitimate trade to becoming a vehicle for very substantial money laundering of criminal cash.
“From the end of 2013, the bank account of Fowler Oldfield began to receive huge sums in cash deposits.
“The significant and marked change in the business of Fowler Oldfield from buyer of scrap gold involving paying out cash to very substantial receiver of cash, the escalation in the turnover of the business, the sheer value of cash involved, the number of Scottish notes among the cash received and the circumstances of its receipt and being counted, are all clear indications that the cash that was being delivered by the couriers had its origins in crime.”
Ms Buckler, 45, Mr Frankel, 44, Mr Miller, 45, Mr Rashid, 51, Mr Rawson, 45, Ms Sota, 34, Mr Stunt, 40 and mr Tulloch, 41, all deny money laundering. Mr Stunt and Ms Sota also deny forgery.
Mr Stunt married Ms Ecclestone, daughter of F1 tycoon Bernie Ecclestone, in Italy in 2011. They had three children together but divorced in 2017.
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Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EXare%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJanuary%2018%2C%202021%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPadmini%20Gupta%2C%20Milind%20Singh%2C%20Mandeep%20Singh%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunds%20Raised%3A%20%3C%2Fstrong%3E%2410%20million%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E28%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Eundisclosed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EMS%26amp%3BAD%20Ventures%2C%20Middle%20East%20Venture%20Partners%2C%20Astra%20Amco%2C%20the%20Dubai%20International%20Financial%20Centre%2C%20Fintech%20Fund%2C%20500%20Startups%2C%20Khwarizmi%20Ventures%2C%20and%20Phoenician%20Funds%3C%2Fp%3E%0A
Killing of Qassem Suleimani
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
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HOW TO WATCH
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Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
How to book
Call DHA on 800342
Once you are registered, you will receive a confirmation text message
Present the SMS and your Emirates ID at the centre
DHA medical personnel will take a nasal swab
Check results within 48 hours on the DHA app under ‘Lab Results’ and then ‘Patient Services’
The specs: 2017 Lotus Evora Sport 410
Price, base / as tested Dh395,000 / Dh420,000
Engine 3.5L V6
Transmission Six-speed manual
Power 410hp @ 7,000rpm
Torque 420Nm @ 3,500rpm
Fuel economy, combined 9.7L / 100km
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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Batti Gul Meter Chalu
Producers: KRTI Productions, T-Series
Director: Sree Narayan Singh
Cast: Shahid Kapoor, Shraddha Kapoor, Divyenndu Sharma, Yami Gautam
Rating: 2/5
Killing of Qassem Suleimani
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
Global state-owned investor ranking by size
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China
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UAE currency: the story behind the money in your pockets
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
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WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
RECORD%20BREAKER
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Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
In The Heights
Directed by: Jon M. Chu
Stars: Anthony Ramos, Lin-Manual Miranda
Rating: ****
