Socialite James Stunt has told a court he loved his ex-wife Petra Ecclestone, “not her bank account”.
The 40-year-old former son-in-law of F1 tycoon Bernie Ecclestone is one of eight defendants on trial over an alleged multimillion-pound money-laundering operation.
Prosecutors at Leeds Cloth Hall Court have previously claimed Stunt may have got involved in the alleged network because the breakdown of his marriage to heiress Petra Ecclestone meant the “river of money” from her family was “running dry”.
The jury has heard the alleged operation saw £266m 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 Stunt’s offices in London also started receiving money.
On Wednesday Stunt told the court he was “not a kept man” during his marriage.
“I had a very rich wife and I was doing all right myself,” he said. “I’m not comparing myself to Bernie Ecclestone – he’s one of the richest men in the world.”
Stunt told jurors Ms Ecclestone’s family were “very controlling of our marriage” and that their three children “had to be born in the UK for tax reasons”.
“It was against mine and Petra’s wishes but that’s the kind of power Bernie had over our marriage,” he told the court.
Stunt started his evidence by telling the jury he was “not a glib, arrogant man” and apologising for “letting himself down at times” with his demeanour during the trial.
He said: “False accusations genuinely ruin lives and if at times it may appear I have acted glib and if I have let myself down I would like to apologise.
“A lot of information I have seen for the first time and when I hear slander about my late brother it can be very hard.
“I use humour as a coping mechanism. You either laugh, cry or get angry and I don’t want to get angry in this courtroom.”
Stunt became tearful when he spoke about his late brother Lee Stunt, who died in 2017, and said he was “here to clear my name and his”.
Jurors have heard Lee Stunt was involved in the management of Stunt and Co – the business prosecutors allege was used to collect and count the criminal cash.
He said: “My brother was the nicest person I have ever met and for these slanderous charges – I don’t mind for me but here’s not here to defend it himself.”
I have a very addictive personality. I was the second largest gambler in the world at one point— James Stunt
Stunt said his father grew up in a council estate in Brixton but that, “By the time me and my brother were born he was already a very wealthy, self-made man.”
He told jurors he grew up between Belgravia and “quite an exclusive country club”, and was “politely asked to leave” one of his schools because his ADHD was disrupting the classroom.
Stunt said he was on medication for ADHD and to help with a benzodiazepine addiction that started after he suffered a panic attack at the Monza Grand Prix in 2008.
He said he had also suffered from a morphine addiction and started using cocaine in 2017 when he and his wife separated, his brother died and the police raided the Fowler Oldfield offices.
“That’s the only illegal substance I have ever taken other than trying marijuana twice at boarding school to be cool,” Stunt said.
He told the court: “I have a very addictive personality. I was the second largest gambler in the world at one point.”
Stunt said he was “literally the epitome of a functioning addict”, but that he had now been sober for over three years.
I would never normally bring up my philanthropy but if they're going to sling mud, I'm going to sling truth— James Stunt
Asked by his barrister Richard Fisher KC whether he had ever sought attention, Stunt said: “I’m not a Kardashian, I’ve never done anything to achieve fame.
“Wow, I have some money, I married a famous man’s daughter.
“That wasn’t what I wanted, I loved my wife, I didn’t love her bank account.”
He agreed that he was “ostentatious” but said “there’s no maliciousness behind it”, adding: “I’m a giver, not a receiver.”
“If you’ve got it, flaunt it. If you haven’t, well, you can always make more,” he said.
Stunt was also asked about some of his large charitable donations including £14,408 to the Princess Charlene of Monaco Fund and £25,000 to the Prince’s Trust in 2015.
He said: “I would never normally bring up my philanthropy but if they’re going to sling mud, I’m going to sling truth.”
Stunt said he wanted to get into the gold industry because it “was something I had a good knowledge of”.
Asked by Mr Fisher if his offices were being used for money laundering, Stunt said: “Absolutely not.”
He told jurors: “This was the opposite of a covert operation. This was an overt, transparent operation because we were legitimate bullion dealers.”
Heidi Buckler, 45, Greg Frankel, 44, Paul Miller, 45, Haroon Rashid, 51, Daniel Rawson, 45, Francesca Sota, 34, Stunt, 40, and Alexander Tulloch, 41, all deny money laundering. Stunt and Sota also deny forgery.
The trial continues.
PA
