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http://www.bbc.co.uk/news/uk-england-tees-34768886
A finance director who took almost £8m from businesses owned by entrepreneur Duncan Bannatyne has been jailed.
Christopher Watson pleaded guilty to defrauding the Bannatyne Group of £7,974,221 from July 2008 to July 2014.
He used the money to fund his gambling habit, spending £5.4m at one bookmaker, and bought a number of properties.
The judge at Teesside Crown Court sentenced the 46-year-old father-of-three, of Cleveland Avenue, Darlington, to four years and eight months.
Mr Bannatyne was not in court, but a statement by him was read out by the prosecution in which it said he was "absolutely shocked and appalled at the callous actions of Mr Watson".
It went on to say he had raised the issue of increasing some staff's pay from the minimum wage level, but "Chris Watson argued cashflow would not allow it".
So much for the Responsible Gambling Bookies, Total loss to All Bookies was about £6.5 Million???
A finance director who took almost £8m from businesses owned by entrepreneur Duncan Bannatyne has been jailed.
Christopher Watson pleaded guilty to defrauding the Bannatyne Group of £7,974,221 from July 2008 to July 2014.
He used the money to fund his gambling habit, spending £5.4m at one bookmaker, and bought a number of properties.
The judge at Teesside Crown Court sentenced the 46-year-old father-of-three, of Cleveland Avenue, Darlington, to four years and eight months.
Mr Bannatyne was not in court, but a statement by him was read out by the prosecution in which it said he was "absolutely shocked and appalled at the callous actions of Mr Watson".
It went on to say he had raised the issue of increasing some staff's pay from the minimum wage level, but "Chris Watson argued cashflow would not allow it".
So much for the Responsible Gambling Bookies, Total loss to All Bookies was about £6.5 Million???
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Replies: 13
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thats a lot of roulettte spins
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mind u bannatyne fair game
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I wonder if he was restricted at that bookies he lost over 5 mill at
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I wonder if he was restricted at that bookies he lost over 5 mill at
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I wonder if he was restricted at that bookies he lost over 5 mill at
A lot of it was spread betting and I don't think they discouraged him. |
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"He used the money to pay off debts of £5.4 million at the betting firm Spreadex, with another £500,000 at Ladbrokes and £250,000 at Sporting Index, the court heard."
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If you lose you can spend as much as you like.
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Clearly loose change to Duncan Bannatyne.
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Maybe not....was wondering why Bannatyne was going into the jungle !
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Because of this fraud he had to sell land that he owned and then lease it back. So he clearly suffered financially.
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Not sure that he'll make for good viewing on IACGMOOH, but we will soon find out.
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Only four years and eight months for filching £8 million?
That means he'll only have to do less than two and a half years and he'll be out. What is he a mate of the judge? He used the money to fund his gambling habit Has he proved that, or has he tucked it away somewhere? I wouldn't be surprised if he has a nasty accident after he comes out of clink. Or even while he's in there. |
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By the way, how do the people who bought the land off him stand?
Can't Bannatyne simply reclaim the land? |