PHOTOS: Bankers David Mills, Lynden Scourfield Blew £245million Loan Scam Funds on Sex Parties
GREEDY “posh t*** bankers” blew a fortune on sex parties and left a porn magazine with huge debts in a £245million loan scam, a court heard today.
Consultant David Mills, 60, was allegedly involved in a “corrupt relationship” with HBOS banker Lynden Scourfield, 54, described as a “Danny Devito lookalike”.
Mills and five others are accused of being involved in the alleged scam which saw companies plunge into deep debt between 2003 and 2007.
Former banker and venture capitalist Mills is joined in the dock by HBOS banker Mark Dobson, 55, fellow consultant Michael Bancroft, 73, and his wife Alison Mills, 51, who were also allegedly involved.
Textile expert John Cartwright, 71, and accountant Jonathan Cohen, 57, are also on trial.
Scourfield, also referred to as “uncle Lyn” is not on trial but is said to have been involved in a “corrupt relationship” with David Mills.
Porn magazine “Fantasy”, owned by publishers Remnant, who were also left with debts of “in excess of £16million” by the alleged scam, provided girls for the debauched bankers sexual entertainment, the court heard.
The woman who booked the girls remembers clearly it was for “posh t*** bankers” for several thousand pounds.
Prosecutor Brian O’Neill QC told the trial at Southwark Corn Court:
“This seemed wrong as at the time bills were not being paid.
“On two occasions escorts were booked for Bancroft and others.
“On 27 October 2005 three attended a flat near Portland Square where Michael Bancroft and others watched.
“There is no doubt David Mills attended on this occasion with his solicitor and another banker.”
Another paid for sex party happened just over a month later when three girls went for a Chinese meal with Bancroft and Scourfield, jurors were told.
“They returned to the flat where various sexual acts took place,” said Mr O’Neill.
“The evening’s entertainment was paid for by Remnant.”
One of the girls was then telephoned in May 2006 by who she described as the “Danny Devito lookalike”, the jury heard.
Mr O’Neill said: “You have seen the photos it can only be Lynden Scourfield.”
After a meal in a Moroccan restaurant she went to the Soho Hotel with him, the jury heard.
“The spending on Mills’ Amex card was on foreign travel for the benefit of Lynden Scourfield,” said Mr O’Neill.
“It funded travel and lavish spending with various trips including the trip where he and Mark Dobson were in the same flight to Bangkok.”
In his closing speech more than four months into the trial prosecutor O’Neill QC said the bankers caused HBOS to lose £245million.
Mr O’Neill said: “Their motivation was greed.
“This took the form of money transfers, cash, expensive gifts, use of an American Express card for personal spending, unauthorised and inappropriately lavish hospitality, luxurious foreign travel and sexual encounters with high class escorts.”
Mr O’Neill told jurors the police investigation has uncovered evidence of ‘huge rewards’ provided by Mills to Scourfield.
“You have heard about birthday parties in Barbados and Thailand, extravagant spending on credit cards, lavish hospitality and sex parties in West London flats.”
Mr O’Neill said Mills gave “Danny Devito lookalike’ Scourfield free reign in his American Express Card.
Scourfield spent £33,000 on it in just two years.
Dobson, of Barnsbury, north London, denies one count of conspiracy to corrupt and one of conspiracy to conceal criminal property.
David Mills, of Todenham,Gloucs., denies one count of conspiracy to corrupt, four counts of fraudulent trading and one count of conspiracy to conceal criminal property.
Bancroft, of Ilmington,Warwicks., denies one count of conspiracy to corrupt, three counts of fraudulent trading and one count of conspiracy to conceal criminal property.
John Cartwright, of Hyde, Cheshire, denies two counts of fraudulent trading and one count of conspiracy to conceal criminal property.
Alison Mills, of Moreton-in-Marsh, Gloucs., denies one count of fraudulent trading and one count of conspiracy to conceal criminal property.
Cohen, of Pinner, Middlesex, denies one count of fraudulent trading and one count of conspiracy to conceal criminal property.
The trial continues.
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