Socialite James Stunt has told a British court he “didn't know it was an offence” to ask his personal assistant to “forge” his signature so he could buy an Andy Warhol painting.
The 40-year-old former son-in-law of F1 tycoon Bernie Ecclestone said he was “jacked up on morphine” in a Los Angeles hospital when he sent an email to Francesca Sota telling her to “please forge my signature” so he could draw £320,000 from one of his bank accounts.
Mr Stunt is one of eight people on trial over an alleged multimillion-pound money-laundering operation.
Prosecutors at Leeds Cloth Hall Court have previously claimed that during the investigation into the alleged network, “it became apparent that Stunt instructed Sota to forge his signature on an important financial document” in February 2015.
On Thursday, Mr Stunt told the court that on that day, he had been taking medication while staying in hospital following a tennis injury sustained at the Los Angeles home he was sharing with Petra Ecclestone, who was his wife at the time.
He said: “It was the first time I have ever tried morphine. I was floating on a cloud, you vomit and things, but it's a wonderful feeling.”
Mr Stunt said he had tried to buy a painting by the American artist with one of his “multiple bank accounts” but “made a human error and didn't realise there weren't enough funds in the account”.
Jurors have previously heard that on February 9, 2015, Mr Stunt told the Arbuthnot Latham private bank that he was going to write a cheque to be drawn on his account for £320,000.
Prosecutor Nicholas Clarke KC said a document was sent for Mr Stunt to sign before they would allow him to draw the additional funds from the account.
The court was told of an email from Mr Stunt to Ms Sota which said: “Sorry to call so late was in hospital I made payment my bank is saying I need to sign something meaning they have not made them please forge my signature first thing in the morning get Lee or witness it yourself please this must be signed and emailed to the relevant parties. Thank you x.”
Later, it was said, Mr Stunt wrote: “Call me as soon as you can I need that bank thing signed witnessed and sent to them or the payment won't be sent that screws me badly!”
An email from Ms Sota was later sent to the bank saying: “Please find attached the signed document by Mr Stunt and myself as a witness.”
Mr Stunt told jurors he was “a man of integrity” and “didn't prejudice a bank”.
He said: “It's my own money, I think this [forgery] is a laughable charge.”
The accused said he “didn't mean to put [Sota] in any precarious position” and “didn't know this was even an offence”.
“I didn't mean forgery. Forge can mean a friendship, I could forge a friendship with you, Your Honour,” Mr Stunt said. “I meant, please make my signature in my name.
“I thought it was part of her duties [as a personal assistant].”
Mr Stunt told the court that businessmen including his father and Mr Ecclestone have stamps with their signatures on them.
“I thought Ms Sota had full authority with my permission to stamp my signature.
“Bernie Ecclestone does it, my father does it — if that's a crime you should lock up half the court.”
The court was shown a picture of Mr Stunt with King Charles III, who was Prince of Wales at the time, which the accused said was taken either at Clarence House or St James' Palace.
He told the court “there are more than one photo of me and His Majesty”.
Mr Stunt also said he knew former prime minister David Cameron “intimately”.
The jury has heard the alleged money-laundering operation led to £266 million being deposited in the bank account of Bradford gold dealer Fowler Oldfield from 2014 to 2016.
Prosecutors say “criminal cash” was brought from all over the country to Fowler Oldfield's premises in Bradford, West Yorkshire, before the scheme “went national” and Mr Stunt's offices in London also started receiving money.
Mr Stunt, Ms Sota, Heidi Buckler, Greg Frankel, Paul Miller, Haroon Rashid, Daniel Rawson and Alexander Tulloch all deny laundering money. Mr Stunt and Ms Sota also deny forgery.
The trial continues.
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What you as a drone operator need to know
A permit and licence is required to fly a drone legally in Dubai.
Sanad Academy is the United Arab Emirate’s first RPA (Remotely Piloted Aircraft) training and certification specialists endorsed by the Dubai Civil Aviation authority.
It is responsible to train, test and certify drone operators and drones in UAE with DCAA Endorsement.
“We are teaching people how to fly in accordance with the laws of the UAE,” said Ahmad Al Hamadi, a trainer at Sanad.
“We can show how the aircraft work and how they are operated. They are relatively easy to use, but they need responsible pilots.
“Pilots have to be mature. They are given a map of where they can and can’t fly in the UAE and we make these points clear in the lectures we give.
“You cannot fly a drone without registration under any circumstances.”
Larger drones are harder to fly, and have a different response to location control. There are no brakes in the air, so the larger drones have more power.
The Sanad Academy has a designated area to fly off the Al Ain Road near Skydive Dubai to show pilots how to fly responsibly.
“As UAS technology becomes mainstream, it is important to build wider awareness on how to integrate it into commerce and our personal lives,” said Major General Abdulla Khalifa Al Marri, Commander-in-Chief, Dubai Police.
“Operators must undergo proper training and certification to ensure safety and compliance.
“Dubai’s airspace will undoubtedly experience increased traffic as UAS innovations become commonplace, the Forum allows commercial users to learn of best practice applications to implement UAS safely and legally, while benefitting a whole range of industries.”
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
Normcore explained
Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
Dolittle
Director: Stephen Gaghan
Stars: Robert Downey Jr, Michael Sheen
One-and-a-half out of five stars
UAE currency: the story behind the money in your pockets
FIXTURES
Saturday, November 3
Japan v New Zealand
Wales v Scotland
England v South Africa
Ireland v Italy
Saturday, November 10
Italy v Georgia
Scotland v Fiji
England v New Zealand
Wales v Australia
Ireland v Argentina
France v South Africa
Saturday, November 17
Italy v Australia
Wales v Tonga
England v Japan
Scotland v South Africa
Ireland v New Zealand
Saturday, November 24
|Italy v New Zealand
Scotland v Argentina
England v Australia
Wales v South Africa
Ireland v United States
France v Fiji
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
1,000 Books to Read Before You Die: A Life-Changing List
James Mustich, Workman
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Sam Smith
Where: du Arena, Abu Dhabi
When: Saturday November 24
Rating: 4/5
MATCH INFO
Jersey 147 (20 overs)
UAE 112 (19.2 overs)
Jersey win by 35 runs
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent