Page 208 - Bundle for MF Final

Bates no 207

CLAIM NO F00BN141
FIRST DEFENDANT'S POSITION STATEMENT

34 It is not surprising. given the above. that the Claimant was desperate to hide the
truth from his solicitors, advisers and insurers. Concealment of his dishonesty is the
primary reason he refused to make any financial declarations, to discuss the
£500,000, to say whether it was a loan or a gift or to participate as a witness in
th
the FD's Final Hearing on 20 May 2018

35 It was also an important factor in his decision to hide the AIG compensation by
14
transferring £500,000 into the safety of the FD's mortgage account and to
disassociate himself from it. He was caught in a classic "Catch 22 situation". He
wanted to get the incriminating compensation out of his accounts and to divorce
15
himself from it; to achieve this it had to be a "gift ".
36 In November and December 2016. the Claimant was awash with cash, glowing
with generosity before Christmas and throwing his money about like never before.

37 His bank statement shows the following payments:
a. 1 November 2016 Louise Siggers £10,000.00
st
b. 1 November 216 Unknown cheque (0042) £7,926.02
st
c. 21 November 2016 Louise Siggers £20,000.00
st
st
d. 21 December Five children? £1,000 £5,000.00 16
38 He has never claimed that the £10,000 17 (a) paid to the FD or the £5,000 (d) to
the children were other than gifts. Working notes, he left behind in Nutley Place
show he struggled with the payment of £20,000 (c) which related to his long-term
18
promise to buy the FD a horse • He planned to claim back the £20,000 as a loan.
then had second thoughts: even he could not argue that buying as horse was "a
contribution towards property'".

5. PAYMENT INTO THE MORTAGE ACCOUNT
39 The process the Claimant used to pay £500,000 into the mortgage account was
convoluted and devious and intended to disassociate his name from the
transaction. Details are set out in Exhibit B hereto.

40 The points to note are

• the money was paid into the mortgage account rather than into the front-end
or feeder current account;

• it could not be withdrawn from the main account - by anyone - unless the full
mortgage was redeemed;
• thus, the suggestion that the advance was available to be drawn down for
living expenses is a lie;

bO
(!)
rn
0..
u Plus £20,000 to buy her a horse and £5,000 to the children = total of £525,000
15 Complying with eve,y legal definition of a gift
16 Making up the total of £525,000
17 Believed to be compensation for his cancelled trip to the Himalayas
18 Originally when he sold his shares in Cruisin'