James Stunt is pictured in London in January 2018. He is being pursued for £1,002,103
James Stunt is being chased over a £1million 'gambling debt' – and claimed he will find the cash by using Picasso and Monet paintings he has lent Prince Charles.
The playboy former husband of Formula 1 heiress Petra Ecclestone allegedly ran up the seven-figure loss with a spread-betting firm.
To pay off his debt, he proposed borrowing £70million secured against a fine art collection he has loaned the Prince of Wales, court documents show.
The portfolio comprises masterpieces by Constable, Monet, Picasso, Dali and Van Dyck worth £225million which gold bullion magnate Mr Stunt lent to the prince's stately home, Dumfries House.
Mr Stunt is being pursued for £1,002,103 by CMC Spreadbet, a City trading firm which claims he ran up the loss by betting on movements in the currency markets.
CMC is suing the self-styled billionaire at the High Court for the million-pound sum plus £219-a-day interest.
Mr Stunt is the playboy former husband of Formula 1 heiress Petra Ecclestone (together at Battersea Power Station in South London in May 2011)
The spread-betting firm claims he repeatedly promised to pay back the cash last year, suggesting he would take out a £70million 'loan secured against Dumfries House art portfolio'. He also proposed 'liquidating' a £650,000 wine collection.
Mr Stunt, 37, loaned the famous artworks when Prince Charles was restoring the £40million Scottish stately home.
Mr Stunt has previously been pictured with his art collection, including the 1960 Picasso work Head of a Woman, which has also been on display at The Metropolitan Museum of Art in New York. It is not known if this will be among the paintings he will sell.
Last year the playboy boasted to Tatler he had loaned 'works from the likes of Velazquez, Monet, Van Dyck, Dali, Picasso and Constable over a two-year period. There's a Chagall went there recently'.
The millionaire showed the magazine a series of framed royal letters of gratitude on display in his Mayfair office.
The £1million 'gambling debt' is one of several demands faced by Mr Stunt, who has three children with Miss Ecclestone. The couple divorced in 2017.
The portfolio comprises masterpieces by Constable, Monet, Picasso, Dali and Van Dyck worth £225million which gold bullion magnate Mr Stunt lent to Dumfries House (above)
His gold bullion firm Stunt & Co is facing insolvency over £89,000 allegedly owed to Formula 1 World Championship Ltd, a company formerly owned by Miss Ecclestone's father Bernie.
A man in Mr Stunt's entourage holds a painting he bought in 2014 at a Christie's auction house in Kensington, West London
Mr Stunt recently staved off his company's winding-up over another £19,000 debt by settling the bill – only to see it replaced by the £89,000 demand.
If he fails to pay, he faces the indignity of his company being declared insolvent by a High Court judge. He is disputing the claim.
The company bankruptcy proceedings are a dramatic fall from grace for the businessman who was once worth £3billion.
Last month, the Daily Mail revealed Mr Stunt has been hit by a 'proceeds of crime' order that freezes his assets including several homes and a fleet of supercars. A judge gave him a £1,000-a-week spending limit and banned him from drinking his own fine wines, although Mr Stunt is teetotal.
The order – obtained by the Crown Prosecution Service – described him as 'the Alleged Offender'.
Stunt has not been charged and it is not clear why the order was made. His assets were not seized, but their use was restricted and he must not dispose of, deal with or diminish the value of them.
Mr Stunt has previously been pictured with his art collection, including the 1960 Picasso work Head of a Woman, which has also been on display at The Metropolitan Museum of Art in New York. It is not known if this will be among the paintings he will sell
Mr Stunt has often 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 1 supremo, and made a gun gesture towards him in court. He made an obscene gesture at photographers outside the hearing.
Mr Stunt has 'categorically denied' these 'completely ridiculous' allegations.
He told the Mail that CMC's £1million demand was 'not a debt at all', claiming: 'It's been settled and it's in hand. Of course I can pay it, but it's all resolved, in hand, amicably.'
Asked if he had actually paid the money, he said: 'At present, it's not viable, but not because of any lack of funds.'
Speaking of the CMC £1million, he said: 'It's not gambling, it's not blackjack, it's commodities. You can say I'm broke, you can call me a billionaire, you can call me a millionaire... but I will not be going bankrupt, I'll say that now.'
Link hienalouca.com
https://hienalouca.com/2019/03/11/james-stunt-has-1million-gambling-debt-he-plans-to-settle-using-a-picasso-he-lent-prince-charles/
Main photo article
James Stunt is pictured in London in January 2018. He is being pursued for £1,002,103
James Stunt is being chased over a £1million ‘gambling debt’ – and claimed he will find the cash by using Picasso and Monet paintings he has lent Prince Charles.
The playboy former husband of F...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves Online news HienaLouca
https://i.dailymail.co.uk/1s/2019/03/11/08/10812956-6793073-The_spread_betting_firm_claims_James_Stunt_pictured_above_repeat-m-9_1552293196682.jpg
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