Mayfair Cellars - details of the collapse. Add/Read Comments
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Decanter has details on the collapse of Mayfair Cellars - the finance director channelled funds into two gay charities hardly keeping any of the thousands for himself. He has since filed for bankruptcy.
Decanter
"Smith, 43, who caused the collapse of the London merchant by selling off customers' wines and pocketing the proceeds, actually saw very little of the £1.5m he stole. Administrators Grant Thornton told decanter.com he gave around £60,000 to two major gay charities, which took the money in good faith. He gave £200,000 to his partner Andrew Comer – now known as Lord Comer after changing his first name by deed poll – while £300,000 was paid directly into his account. Comer denies knowledge of the theft, claiming he thought the money was paid to him for debt collection work for Mayfair. Grant Thornton estimates that Mayfair's losses total around £3m. "
Decanter
"Smith, 43, who caused the collapse of the London merchant by selling off customers' wines and pocketing the proceeds, actually saw very little of the £1.5m he stole. Administrators Grant Thornton told decanter.com he gave around £60,000 to two major gay charities, which took the money in good faith. He gave £200,000 to his partner Andrew Comer – now known as Lord Comer after changing his first name by deed poll – while £300,000 was paid directly into his account. Comer denies knowledge of the theft, claiming he thought the money was paid to him for debt collection work for Mayfair. Grant Thornton estimates that Mayfair's losses total around £3m. "
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