But when we do get it all I think it’s going to be an interesting story.
The company offices of Bernie Ecclestone’s son-in-law have been raided by police investigating a multi-million pound fraud.
James Stunt, 34, claims he is the victim of a substantial theft from his international gold bullion firm Stunt and Co.
The wealthy businessman, who married Petra Ecclestone in a lavish ceremony five years ago, is preparing to return from Los Angeles to deal with the crisis.
He suspects he has been betrayed by people who took advantage of his ‘hands off’ approach. The police operation began on Thursday afternoon when officers raided historic jewellery wholesaler Fowler Oldfield.
The thing being that no one can really explain where the money comes from. Sure, supplying bullion, wholesaling gold jewelry. But those are businesses where people think there’s a lot of profit, where there’re fat margins. They aren’t, they’re highly, highly, competitive and thus low margin businesses.
The jewelry business does supposedly £100 million in turnover. People will think, wow, that’s a lot of gold! But gross margins of what, 10% maybe? Less possibly? Then the operating costs of the firm. Difficult to run a Mayfair mansion plus a fleet of supercars on that.
Stunt & Co registered in November 2014, not filed accounts yet (not due).
I just think it’s all going to be very interesting.