Managing Your Cash Flow

Published

Dragons’ Den Duncan Bannatyne’s FD arrested on suspicion of fraud

1 Mins

Watson, both the secretary and director of Bannatyne Fitness Limited, was appointed to his roles in 2008 and 2012 respectively. And, in Bannatyne’s 2013 book ‘Riding the Storm‘, he is most often referred to as the group’s FD, as well as a senior member of the team.

The dragon also describes Watson as being part of the group of people that helped him through “the most tumultuous two years of [his] life.” It was he that helped Bannatyne assess his options during the divorce settlement and helped his business when it had fallen into “survival mode”.

But has his trust backfired this time?

Police were alerted by Bannatyne Group employees to what they described as a “serious financial matter”.

According to a spokesperson for the police: “”We can confirm a 45-year-old man was arrested on suspicion of fraud by abuse of position.

“The investigation involves an alleged multi-million pound fraud on a Darlington-based business.

“The man has been bailed pending further inquiries.”

Bannatyne Group only said: “We are grateful for their thoroughness and professionalism.

“We have no comment to make except to say that it does not affect the current operation of our successful business.”

Share this story

Lewis Hamilton slated on Twitter for not having TV license
Black Friday 2014 results in UK online sales spike of 135 per cent year-on-year
Send this to a friend