Thursday 19th November, 2015

A Finance Director who stole nearly £8m from businesses owned by Dragons Den star Duncan Bannatyne, has been jailed.

Christopher Watson, pleaded guilty to defrauding the Bannatyne Group out of £7,974,221 between July 2008 and July 2014.

He made 162 fraudulent transactions from Bannatyne's Fitness Ltd, which runs health clubs and hotels across the UK, and used the money to finance his gambling habit.

The judge at Teesside Crown Court sentenced the 46 year old 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".

Andrew West, prosecuting, said the crime was an abuse of trust by the accountant, who worked at the firm's Darlington head office.

'He siphoned off huge amounts of money from corporate accounts to accounts held by him,' the court heard.

Related news:

http://apn.today/latest-news/1329-second-arrest-in-fraud-investigation-at-duncan-bannatynes-firm.html

http://apn.today/latest-news/1324-duncan-bannatynes-finance-director-arrested-in-serious-fraud-allegation-.html