Wednesday 2 November 2022 02:01 PM James Stunt tells £266m money laundering trial he gambled with father-in-law ... trends now
James Stunt told his £266million money-laundering trial today he held large amounts of cash due to his gambling habit - and once even gave his mother-in-law £500,000 in bills to help him buy a £2million Monet painting.
The former husband of Formula 1 heiress Petra Ecclestone is accused of being at the centre of a money-laundering operation which involved the transfer of tens of millions of pounds in cash between his company and NatWest bank.
Stunt, 40, told a jury at Leeds Cloth Hall Court today he habitually held large quantities of cash for gambling and even had a 'strong room' in his Los Angeles marital home.
He said it was 'my cash', claiming: 'It was predominantly gambling winnings tax-free from a casino.'
Stunt told the court sometimes he would 'gamble' with his former father-in-law Bernie Ecclestone, the Formula 1 tycoon, saying: 'He would pay me cash rather than a bookie.'
James Stunt, 40, the former husband of heiress Petra Ecclestone, has been accused of being at the centre of a £266million money-laundering operation (Pictured: Stunt arriving with new girlfriend Helena Robinson at Leeds Cloth Hall Court on Wednesday)
Stunt pictured with his then fiancee Petra Ecclestone in 2011
Stunt told a jury at Leeds Cloth Hall Court that he habitually held large quantities of cash for gambling and even had a 'strong room' in his Los Angeles marital home (pictured)
On one occasion in 2012 Stunt allegedly provided mother-in-law Slavica Ecclestone (pictured with Bernie Ecclestone) with £500,000 cash to help him buy a £2million Monet painting. She was needed to help as she was a Swiss resident, he said
The socialite, who previously described himself as the 'world's second biggest gambler' said he went to all the top casinos in London.
'I had a £5million credit line in every casino in London and Las Vegas,' he told the jury.
And he said cash was readily available to him. In 2012, he provided his mother-in-law Slavica with £500,000 in cash to help him buy a £2million Monet painting. She was needed to help as she was a Swiss resident, he said.
The tycoon was asked about his company's 'joint venture' with Bradford-based gold bullion dealer Fowler Oldfield.
Stunt said under the deal, he kept 70 per cent of profits because 'we had the money' and Fowler Oldfield, who were 'bringing customers' for the gold business, were entitled to 30 per cent.
The court heard Stunt's business plan was to source 'raw' gold and turn it into high-quality gold bars
