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Director took cash from his own firm
7:00am Friday 14th June 2013 in News
A COMPANY director stole more than £12.5 million from his own firm to pay for his Cotswold country home, fast cars and fine wines, the High Court heard.
A judge has frozen the assets of Adrian Burford, aged 50, who spent £9.3m on the Grade II listed Broadwell Manor, near Stow.
Burford commuted between his Mayfair office and his home in the Cotswolds in an Aston Martin Rapide bought with proceeds of the fraud, the court was told.
Private equity investment company Fern Advisors Ltd are suing their former chief executive and director for their money.
Mr Justice Hickinbottom, sitting in the Queen’s Bench division of the High Court, has heard how Burford spent money on his home, £1.1m on a London restaurant and £20,000 on wine.
Fern Advisors was founded in 2008 with Burford’s fraud said to have started in January 2012. The court heard he had stolen £12.5 million from Fern to use mostly on propping up his failing companies and to buy Broadwell Manor.
His solicitor Stephen Hallam said he had no comment to make.
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