A British court has ruled that billionaire Nick Candy must pay £10 million ($11.8m) to enforce a worldwide asset freeze against a former business partner he has accused of fraud.
Mr Candy, 49, has fallen out with technology millionaire Robert Bonnier over a deal involving Audioboom, a popular podcasting platform listed on the UK's AIM stock market.
Lawyers for Mr Candy have sought damages against Mr Bonnier over alleged fraud in a business deal, arguing that assets belonging to him should be frozen.
The High Court in London has temporarily ruled in favour of Mr Candy, while ordering him to “personally satisfy” a guarantee of up to £10m for the freeze to be imposed.
The property tycoon has until 4pm on Monday to pay the money, or the asset freeze could be quashed.
The court also ruled that Mr Candy would be personally responsible for compensation should the freeze wrongly cause any loss to Mr Bonnier or his company.
Mr Bonnier's company Aaqua took a £6.8m stake in Audioboom in 2021. In return, Mr Candy, who is Audioboom's second-largest shareholder, received shares in Mr Bonnier’s company.
Mr Candy claims that he was misled about the prospects of Aaqua before he invested in the company last year.
Mr Bonnier made a £188m bid for Audioboom last year and received the support of Mr Candy. However, that bid was ultimately rejected by the board of Audioboom.
Since then, Audioboom's value has fallen to £131m, a drop of 44 per cent from its previous high.
A spokesman for Mr Bonnier told the The Telegraph that the asset freeze was an attempt to cause “maximum damage to Aaqua’s business and hardship to its employees”.
The contract also “perfectly clearly stated” to Mr Candy that its investment relied on its own due diligence.
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
Company%20Profile
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Zayed Sustainability Prize
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
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
Federer's 11 Wimbledon finals
2003 Beat Mark Philippoussis
2004 Beat Andy Roddick
2005 Beat Andy Roddick
2006 Beat Rafael Nadal
2007 Beat Rafael Nadal
2008 Lost to Rafael Nadal
2009 Beat Andy Roddick
2012 Beat Andy Murray
2014 Lost to Novak Djokovic
2015 Lost to Novak Djokovic
2017 Beat Marin Cilic
Ballon d’Or shortlists
Men
Sadio Mane (Senegal/Liverpool), Sergio Aguero (Aregentina/Manchester City), Frenkie de Jong (Netherlans/Barcelona), Hugo Lloris (France/Tottenham), Dusan Tadic (Serbia/Ajax), Kylian Mbappe (France/PSG), Trent Alexander-Arnold (England/Liverpool), Donny van de Beek (Netherlands/Ajax), Pierre-Emerick Aubameyang (Gabon/Arsenal), Marc-Andre ter Stegen (Germany/Barcelona), Cristiano Ronaldo (Portugal/Juventus), Alisson (Brazil/Liverpool), Matthijs de Ligt (Netherlands/Juventus), Karim Benzema (France/Real Madrid), Georginio Wijnaldum (Netherlands/Liverpool), Virgil van Dijk (Netherlands/Liverpool), Bernardo Silva (Portugal/Manchester City), Son Heung-min (South Korea/Tottenham), Robert Lewandowski (Poland/Bayern Munich), Roberto Firmino (Brazil/Liverpool), Lionel Messi (Argentina/Barcelona), Riyad Mahrez (Algeria/Manchester City), Kevin De Bruyne (Belgium/Manchester City), Kalidou Koulibaly (Senegal/Napoli), Antoine Griezmann (France/Barcelona), Mohamed Salah (Egypt/Liverpool), Eden Hazard (BEL/Real Madrid), Marquinhos (Brazil/Paris-SG), Raheem Sterling (Eengland/Manchester City), Joao Félix(Portugal/Atletico Madrid)
Women
Sam Kerr (Austria/Chelsea), Ellen White (England/Manchester City), Nilla Fischer (Sweden/Linkopings), Amandine Henry (France/Lyon), Lucy Bronze(England/Lyon), Alex Morgan (USA/Orlando Pride), Vivianne Miedema (Netherlands/Arsenal), Dzsenifer Marozsan (Germany/Lyon), Pernille Harder (Denmark/Wolfsburg), Sarah Bouhaddi (France/Lyon), Megan Rapinoe (USA/Reign FC), Lieke Martens (Netherlands/Barcelona), Sari van Veenendal (Netherlands/Atletico Madrid), Wendie Renard (France/Lyon), Rose Lavelle(USA/Washington Spirit), Marta (Brazil/Orlando Pride), Ada Hegerberg (Norway/Lyon), Kosovare Asllani (Sweden/CD Tacon), Sofia Jakobsson (Sweden/CD Tacon), Tobin Heath (USA/Portland Thorns)
Origin
Dan Brown
Doubleday
RESULT
Argentina 0 Croatia 3
Croatia: Rebic (53'), Modric (80'), Rakitic (90' 1)
