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2016: Petra Ecclestone and James Stunt shopping on Rodeo Drive
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Published: 22:00 BST, 18 February 2019 | Updated: 12:29 BST, 19 February 2019
He recently bragged of owning 200 cars and boasted that losing £5million in a casino meant nothing to him.
But playboy James Stunt is being forced to live considerably more frugally these days – on the orders of a judge.
The gold bullion magnate ex-husband of Formula One heiress Petra Ecclestone, with whom he has three children, has had his assets frozen under ‘proceeds of crime’ rules, the Daily Mail can reveal. At a court hearing, secret until now, a judge also slapped a £1,000-a-week spending limit on Stunt, 37, who is described as ‘the Alleged Offender’.
Petra Ecclestone pictured with James Stunt, who recently bragged of owning 200 cars and boasted that losing £5million in a casino meant nothing to him
Under the terms of the Proceeds of Crime Act 2002, the police or the CPS can apply for a restraint order in the course of a criminal investigation.
The power is intended to allow the courts to preserve the position of the assets of the subject of an investigation in case they wish later to seize those assets following a successful conviction.
Since their introduction in 2002 the use of restraint orders has become more usual and they are now commonly used in major fraud and drug cases. They have even been successfully sought by the Department for Work and Pensions in the course of investigations into benefit fraud.
Under condition 1 of Section 40 of the Act, restraint orders may only be sought after (a) a criminal investigation is underway and (b) there is reasonable cause to believe the alleged offender ‘has benefited from his criminal conduct’.
There is no suggestion Mr Stunt is guilty of any offence.
For most mortals, this would be high-rolling enough, but for the brash, caviar-loving supercar fan, it must severely cramp his style.
The teetotal tycoon could not even drown his sorrows if he wanted to – as he is effectively barred from reaching into his wine cabinet, designed by Earl of Snowdon David Linley – and taking a restorative swig from his treasure trove of Chateau Petrus, which can cost £10,000 a bottle.
To do so would reduce the value of his cellar, and Stunt is prohibited from doing this. The Mail has obtained a copy of a ‘restraint order prohibiting disposal of assets’ served on him by the Crown Prosecution Service (CPS) under the Proceeds of Crime Act. The order threatens him with a fine or jail if he tries to sell his multi-million-pound homes or cherished fleet of supercars.
Over 17 pages, the restraint order freezes no fewer than 14 bank accounts, and bans the sale of his Lamborghinis, Rolls-Royces and Bentleys, and seven property deeds.
The order was issued by Judge Sarah Munro QC, sitting at the Old Bailey, on August 29. The hearing was private, and was not reported at the time.
When the Mail tried to report on the existence of the order last December, Stunt’s lawyers obtained a court order that banned publication.
Stunning views: The block of flats overlooking the Thames in Chelsea Harbour
Luxury home: The cottage in Belgravia that was on the market in 2016 for £11.8m
But Stunt’s bid to gag the Press has backfired, after the Mail challenged the gagging order in court yesterday. It was overturned, meaning the Proceeds of Crime Act proceedings against the multi-millionaire can be revealed for the first time. The Act was introduced in 2002 to allow money or assets to be seized by the State if they were obtained through unlawful conduct. In Stunt’s case, he has not been charged with any offence, and it is not clear why the order has been made. His assets have not been seized, but their use has been restricted and he must not dispose of, deal with or diminish the value of them.
It is understood that, since August, the restraint order has been subject to minor revisions on three occasions, to take account of Stunt’s business interests.
In the original order, Judge Munro QC slapped a £1,000-a-week limit on him, saying: ‘This order does not prohibit the Alleged Offender from spending up to £1,000 a week towards his ordinary living expenses.’
Listed by the court: One of two Rolls-Royce Phantoms. Stunt recently bragged of owning 200 cars and boasted that losing £5million in a casino meant nothing to him.
Stunt is being forced to live considerably more frugally these days – on the orders of a judge (pictured: His favourite supercar, the Lamborghini Aventador)
It is a far cry from his days of splashing the cash. His costly and acrimonious divorce from Miss Ecclestone in 2017 did not dent his penchant for shopping trips to Harrods in a cavalcade of supercars. In March last year, he declared to Tatler magazine that he is ‘as rich as ever’.
He said he had once had a £5million credit line at ‘every casino’ in London, Monaco, Las Vegas and Macao but had recently cut his wagers to ‘just’ £20,000 a night, explaining: ‘Me fooling around with £20,000, I’m not trying to sound as if I don’t know the value of money, but it’s a huge improvement on losing £5million a night. You have to bet enough to hurt you, but I definitely had a gambling problem. I was losing millions every time.’
Interviewed at home by the high-society magazine, while wearing a £60,000 Audemars Piguet gold wristwatch, he showed off some of his paintings including a Van Gogh, a Constable, a Picasso and several Van Dycks.
These are likely to be among the list of artworks that Stunt has been ordered to draw up by the court. The judge demanded he itemise all of his ‘paintings, furniture, watches, jewellery and objets d’art’, along with their estimated value, photographs and locations where they are held.
Audemars Piguet gold watch: Stunt has one worth £60,000 in his collection
The gold bullion magnate is the ex-husband of Formula One heiress Petra Ecclestone, with whom he has three children (pictured: His Bentley Mulsanne)
Rolls-Royce Phantom: The other in Stunt’s collection. Stunt has also spent millions on artworks
Stunt has spent millions on artworks. His bodyguards have been spotted carrying bubble-wrapped masterpieces from Sotheby’s and Christie’s to Rolls-Royces parked on yellow lines outside.
He has lent paintings by Monet, Dali, Picasso and Constable to galleries around the world. Even Prince Charles accepted paintings on loan for the restoration of his Scottish stately home Dumfries House, and Stunt has several royal letters of gratitude on display at his Mayfair office.
Two months ago, in line with good journalistic practice, the Mail gave Stunt a chance to comment before publication. A security guard answering the door of his stucco-fronted Belgravia cottage said he was unavailable, but accepted a letter to him offering an opportunity to comment. Instead of doing so, Stunt went straight to a judge.
Later that day, Old Bailey Judge Mark Dennis QC granted an order to ‘prohibit publication of all information’ relating to the assets freezing order. Yesterday, Judge Dennis threw out the gagging order, and suggested Stunt had been trying to protect his ‘personal, reputational or personal business interests’, none of which was relevant to the Proceeds of Crime proceedings. The CPS has declined to comment.
Used by his security team: One of two Range Rovers. He told Tattler he liked to travel in ‘an armada of cars’ on shopping trips round London
Bentley Flying Spur: Stunt claims to own 200 cars
Stunt has repeatedly stoked controversy. During his £5billion divorce, he was claimed to have rubbed cocaine on his gums during a court hearing. On the same day in June 2017, it is also claimed he barged into his father-in-law, the ex-Formula One supremo Bernie Ecclestone, and made a gun gesture towards him in court. He later made an obscene gesture at photographers as he left the hearing. Stunt has ‘categorically denied’ all these allegations, calling them ‘completely ridiculous’.
Around that time, Stunt was photographed sitting in the back of a Rolls-Royce with Terry Adams, the ‘Godfather’ of Britain’s most notorious crime family which has been linked to 25 murders, money laundering, racketeering and extortion.
Adams is also Stunt’s godfather. Stunt has spoken of his pride at being his godson. There is no suggestion he is involved in any of Adams’s affairs.
Wine collection: A bottle of Chateau Petrus
The assets which have been frozen by the court offer a fascinating glimpse into Stunt’s wealth. Among other things, the Proceeds of Crime order lists his cars and their personalised number plates – all variations on his surname.
Stunt is banned from selling the following cars: Bentley Flying Spur, registration S4UNT Range Rover S2UNT Lamborghini Countach 157UNT Rolls-Royce Phantom 57UNT, Lamborghini Aventador S7UNT, Range Rover S1UNT, Rolls-Royce Phantom S3UNT, Lamborghini Aventador S1VNT, Bentley Mulsanne S6UNT.
He has bragged that he owns more than 200 high-performance cars, mainly stored in hangars in California and the UK.
He told Tattler he liked to travel in ‘an armada of cars’ on shopping trips round London, typically in a Lamborghini sandwiched by two Rolls-Royces and two Range Rovers as, he claims, it would embarrass him to have his 25-strong security team trail him in Ford Fiestas.
Stunt once boasted to Bernie Ecclestone that his £600,000 Rolls-Royce Mansory Conquistador was the only one in the world.
The court order imposes a freeze on two entire floors of a luxury apartment block next to the Thames. Stunt paid £3.3million for the first flat, in 2012, and a further £3.4million for the apartment directly beneath it, in 2015.
Deeds for the two properties, publicly available via the Land Registry, have been recently amended to show that a court order prevents any sale without the permission of ‘the CPS Proceeds of Crime Central Pre-Enforcement Unit’. They also show that a bankruptcy notice was filed at the High Court in October this year.
Stunt’s stucco-fronted four-storey Belgravia cottage has four double-bedroom suites, wine cellar, roof terrace, cinema, gym and steam room. Bought via one of his companies for £2.7million in 2011 – he boasted he paid cash – it was put back on the market in 2016 for £11.8million but did not sell.
The court order also demanded that Stunt draw up a list of all his art. Pictured is one of his entourage on an art-buying spree in July 2015
Two small plots in Stunt’s name close to Dartmouth Castle in Devon are identified in the order. Bizarrely, the plots in a patch of woodland are tiny – each less than eight inches by eight inches.
The order freezes no fewer than 14 bank accounts in the names of James Stunt or Stunt & Co Ltd. They comprise nine accounts at Barclays, four at Lloyds and one at a Mayfair wealth management firm.
Stunt is banned from selling his Corney & Barrow fine wine collection. The 230-year-old London-based firm is one of the oldest independent wine merchants in the UK. It is currently selling a case of 12 bottles of Petrus 1982 for £51,000.
The court order also demanded that Stunt draw up a list of all his ‘paintings, furniture, watches, jewellery and objets d’art’ and itemise their estimated value and locations where they are held.
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Published by Associated Newspapers Ltd
Part of the Daily Mail, The Mail on Sunday & Metro Media Group
Tuesday, Aug 23rd 2022
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Published: 01:29 BST, 27 June 2013 | Updated: 15:51 BST, 27 June 2013
Joining her sister Tamara and her new husband Jay Rutland, Petra Ecclestone stole the attention from the newlyweds as she showed off her fantastic post-baby body.
The new mother looked trim in a blue bikini as she and her older sister enjoyed the sun from the luxurious comfort of their private yacht.
Leaving her daughter Lavinia briefly, Petra proved she was back to her best on the Mediterranean cruise.
Looking trim: Petra Ecclestone showed off her post-baby body on holiday with sister Tamara
The heiress gave birth to her daughter last February, 18 months after she tied the knot with Lavinia's father James Stunt in a ceremony held at Odescalchi Castle near Rome, which was attended by royals, socialites and celebrities from all over the world.
Now she and her family of three were gatecrashing her sister's honeymoon, but Tamara seemed to welcome the chance to spend time with her younger sibling.
The two enjoyed a quick dip in the Mediterranean together before heading up to the sun-loungers on the deck so that Petra could have her baby back in her arms.
Holiday crashing: Petra and her husband James Stunt joined her sister and Jay Rutland on their honeymoon cruise
Quick dip: The sisters cooled off in the Mediterranean waters
Hot tub: The new parents got some alone time in the jacuzzi aboard the luxury yacht
Their other halves, however, revved up their engines on the back of some jet skis, skimming across the ocean at great speed.
Earlier in the day the family enjoyed a more relaxing time on the mainland.
Younger sister Petra, 24, kept her cool on the hot day in a green maxi dress, with her long blonde hair pulled back in a ponytail.
Break time: Jay relaxes in the sun after a a wavy ride across the sea
Need for speed: The husbands feel the wind in their hair on the back of a jet ski
She kept her daughter sheltered from the midday sun in an iCandy pushchair containing a Maxi-Cosi carrycot.
Meanwhile, her sibling Tamara, 28, looked like she was ready to do some more tanning in a kaftan over her bikini.
Jay, 31, complemented his deep tan with a pale pink T-shirt and eye-catching yellow shorts.
Just strolling: The Ecclestones and their husbands return to their $59.5million yacht
Doting mother: Petra Ecclestone pushes her daughter Lavinia along in a pram alongside her husband James Stunt in Capri on Tuesday
Newlyweds Tamara and Jay, who wed in the South Of France two weeks ago, are on their second holiday since marrying after a week-long honeymoon.
They returned home to London briefly last week to attend Lavinia's christening, before the Rutlands and the Stunts flew to Corsica together on Saturday.
The new in-laws have since been cruising down the Italian coastline in a $59.5million yacht called Diamonds Are Forever.
Laidback: Tamara Ecclestone and Jay Rutland looked comfortable as they strolled about in flip-flops
Beach style: Tamara wore a kaftan over her bikini, clearly ready to get back to tanning
Relaxed: Petra seems to have settled into new motherhood well
Following Lavinia's christening in London on Friday, the Ecclestone siblings and their husbands flew to Figari, Corsica via private jet on Saturday, where they then boarded the Diamonds Are Forever.
On Sunday, the 200 foot Benetti yacht, which costs between 330,000-360,000 euros-a-week to rent - was spotted near Ponza - an Italian island in Tyrrhenian sea, north west of Naples.
The lavish boat contains two panoramic master suites with walk-in wardrobes and four guest staterooms, with guest and service elevators to all decks.
Quality time: Petra seemed to have warmed to her new brother-in-law as the trio shared a joke
The deck includes a sundeck which can be used as a helipad, while inside is a gymnasium, steam room, massage table and hairdressers chair.
The yacht also includes a spa pool and marble topped wet ba
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