Monday 15th December, 2014

The Finance Director of Duncan Bannatyne's business empire has been arrested in part of an investigation into an alleged multi-million pound fraud at the company.

Christopher Paul Watson was arrested after the Darlington based business alerted police to a 'serious financial matter'.

A 45 year old father of three, Mr Watson, was arrested on suspicion of fraud by abuse of position. Mr Watson formed part of Dragon's Den star, Mr Bannatyne's trusted inner circle, and one who he credited as supporting him through his divorce and a financial "tight spot."

A spokesman for Mr Bannatyne's company said the investigation does not affect the day-to-day operation of the successful business.

A spokesman for Durham Police said: "We can confirm a 45-year-old man was arrested on suspicion of fraud by abuse of position.

“The investigation involves an alleged multi-million pound fraud on a Darlington-based business.

“The man has been bailed pending further inquiries.”

In his 2013 book Riding The Storm, Mr Bannatyne refers to Mr Watson as his finance director and a member of his 'senior team'.

He says Mr Watson was ‘fantastic’ in helping the company find its way out of ‘a tight spot’.