Director "used company funds to buy a Ferrari"

Friday 07 August 2015

A company director facing charges related to frauds totalling £2.5 million – including an allegation that he used company money to buy a Ferrari – has appeared in the Magistrate’s Court.

Richard Arthur (53), of Mont Mallet in St Martin, faces 11 fraud charges including allegations that he used other people’s money to buy the Ferrari, pay off his taxes and pay a lawyer’s bill.

The alleged offences took place between March 2002 and September 2009.

He was represented by Advocate David Steenson in a brief hearing in the Magistrate’s Court yesterday morning.

An interim date for committal to the Royal Court has been set for 15 September.

Picture credit: Radu Bercan / Shutterstock.com