Petra Ecclestone’s ex James Stunt was ‘very aware’ of money laundering, trial

James Stunt, 40, who denies money laundering and tampering charges, is one of eight defendants to be tried over a £266million “sophisticated” money-laundering operation

Prosecutors told the court on Wednesday that James Stunt took “a very pragmatic approach” when his company was implicated in a “sophisticated” money-laundering operation.

The ex-husband of heiress Petra Ecclestone, 40, was one of eight defendants tried over an alleged network whose trial court saw £266million deposited into gold dealer Bradford Fowler’s bank account Oldfield for two years.

James denies money laundering and tampering charges and previously pleaded not guilty during a hearing at Leeds Crown Court in January.

Prosecutors claimed “criminal money” was injected into business addresses owned or managed by Stunt and his co-conspirators between January 2014 and September 2016.

Leeds Cloth Hall Court had previously heard hundreds of thousands of pounds at one point had been carried into the bags and belongings of the carrier to Fowler Oldfield in Bradford, West Yorkshire.

The jurors allegedly accused of money laundering then “became national” when one of Fowler Oldfield’s directors, Greg Frankel, became vice president of Stunt & Co, and Stunt’s facility in London also started accepting cash.

Prosecutor Nicholas Clarke QC said the defendants hid the origin of the money by laundering the company’s bank accounts and using the proceeds to buy gold.

On Wednesday, jurors were shown messages between Stunt employees and co-defendants Alex Tulloch and Francesca Sota, and employees at Fowler Oldfield.

The court heard a message from Tulloch in November 2015 that said: “James is not satisfied though… James wants to know what his profits are this week. Concerns about profits, etc.”

The court received another message from Tulloch in April 2016, while Stunt was living abroad, saying: “Make sure I am updated at least daily on pounds in London and Bradford. Gold for sale: Lock ins (Scotia), Cookson’s, Dubai. Refining: Any material coming out of a refinery.”

Prosecutor Nicholas Clarke QC said this showed Stunt was “taking a very high-handed approach even though he was a long way off at the time”.

Mr Clarke said Stunt was the owner and director of Stunt & Co but had “assigned many responsibilities to others”.

He told the court: “He was not involved in the day-to-day management of the buying and selling of gold and was not included in most correspondence via electronic means.

“However, the emails among others demonstrate that he knew a lot and allowed what was going on.”

Five defendants from Fowler Oldfield – Greg Frankel, Daniel Rawson, Paul Miller, Heidi Buckler and Haroon “Harry” Rashid – all said the prosecution was unable to prove any cash was criminal property.

Stunt and the defendants from his company – Tulloch and Sota – said they “didn’t know if that was the case”, the court heard.

However, prosecutors said that “it was clear that this was criminal cash” and that each defendant “must at least suspect that the source of the money is criminal”.

The jury was told West Yorkshire Police had launched Operation Larkshot to investigate a large amount of cash credited to Fowler Oldfield’s bank account and collected from three locations – Fowler Oldfield’s own premises , James Stunt’s office in central London and a new company called Pure Nines in Hatton Garden.

Mr. Clarke said a significant amount of cash had been paid into the bank account of Fowler Oldfield Limited since 2014.

He told jurors they raised suspicions among bankers because “such money, on a daily basis, could come from a Premier League football stadium on a match day.” or a place or event of a similar size”.

The broader investigation found that between January 1, 2014 and September 16, 2016, more than £266 million in cash and unspecified deposits were paid into the Fowler Oldfield bank account. , the court heard.

Buckler, 45, Frankel, 44, Miller, 45, Rashid, 51, Rawson, 45, Sota, 34, Stunt and Tulloch, 41, all denied money laundering.

Stunt and Sota also denied tampering.

Stunt married Miss Ecclestone, the daughter of F1 tycoon Bernie Ecclestone, in Italy in 2011. They had three children together but divorced in 2017.