Music instruments chief is found guilty of fraud
NewsThe former director of a company that leases out musical instruments has been found guilty of borrowing £26 million in its name to buy a luxury yacht and properties in Serbia.
A judge in London ordered Jonathan Thorne to make an interim payment of £11.3 million to his former company Duet Capital (Holdings) Ltd. ‘The admissions by Mr. Thorne that he acted dishonestly and used counterfeit leases to draw down on the loan places a wide shadow over all the alleged commercial activity,’ the judge said.
Duet Capital was brought out of administration last year as The Musiq Group.
UPDATE: We are advised that Duet Capital (Holdings) Limited is a company still in administration. The musical instruments assets of the company were purchased by Musiq Group Limited, the company itself was not purchased.
Full law report here.
Read this Bloomberg report on the background.
Further UPDATE: We understand that Jonathan Thorne died some weeks ago.
Where does one sail a luxury yacht in Siberia?
I’m going to say there was vodka involved in that sales pitch.
Serbia.
Serbia indeed, but had it been Siberia, the vessel could have sailed from Vladivostok or elsewhere on the Pacific coast of that huge territory.