A flamboyant peer – famous for hosting fabulous celebrity parties at his £30m West End mansion – appeared in the dock today (Thursday) accused of a £12m ‘advance fee fraud’ and £2.4m ‘price ramp fraud’.
Multi-millionaire party king Edward Davenport, 43, Lord of Giffords, who owns 33 Portland Place, Marylebone and a Monaco apartment, was remanded in custody to Wandsworth Prison.
Founder of the legendary Gatecrasher Balls, Davenport (pictured with Keira Knightly) inherited his title aged 28, and went on to make millions, hosting the likes of Cher, Naomi Campbell and Kate Moss at legendary parties at 33 Portland Place.
He appeared alongside a solicitor and businessman at City of London Magistrates Court, following his arrest and search of his home yesterday (Wednesday) by the Serious Fraud Office.
They are: Solicitor David Horsfall, 54, of Deanery Road, Godalming, Surrey and Company Director Peter Reilly, 62, of The Old Bakery, The Galleries, Warley, Brentwood, Essex.
All three are charged that between May 27, 2005 and December 3, 2009 they conspired to obtain money by deception by dishonestly offering loans for the purpose of obtaining payments for the service.
They are also charged that between November 29, 2007 and June 21, 2008 they conspired to commit fraud by falsely representing 80 Paul Street, Marylebone, had a lease with Paul Street Media Ltd.
All three are charged with laundering the proceeds of criminal property between May 27, 2005 and December 3, 2009 and Horsfall alone faces an additional charge of laundering criminal property through his company accounts between the same dates.
Davenport spoke only to confirm his name, date of birth and address during the two-hour hearing, also attended by his elderly mother who offered to be a £100,000 surety.
The SFO claim all three were involved with Gresham Ltd. which charged a 10% security deposit to clients, including the rich and famous, who were then left without the loan they applied for or a refund.
It is also alleged the property at 80 Paul Street was auctioned for £2.4m - £700,000 over market value – based on a fraudulent claim a company, Paul Street Media Ltd., had a 15 year £187,000 pa lease.
The case was transferred to Southwark Crown Court and Davenport and Reilly were remanded in custody to appear there on February 2.
The magistrates granted Horsfall bail on condition he resides at his recorded address, surrenders his passport and does not contact prosecution witnesses.
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