Express & Star

Phones4u founder John Caudwell says expert fiddled £33k expenses

A billionaire British businessman told a wealthy French financial expert that she should seek ‘psychiatric help’, a High Court has heard.

Published
Phones4u founder Mr Cauldwell disputes the claims

John Caudwell, who founded the Staffordshire-based mobile phone firm Phones4u, also told Nathalie Dauriac that she was ‘corrupt’.

The businessman lives near Eccleshall and is now better known for his charitable work through the charity Caudwell Children.

But he has found himself involved in court proceedings following claims made by former colleague Ms Dauriac. Details of the case emerged as Mr Justice Marcus Smith began analysing a money dispute at a trial in the High Court in London. Bosses at money management firm Signia Wealth, which is controlled by a Caudwell family trust, have sued Ms Dauriac. They say she misused expenses when working at the firm.

The court was told Mr Caudwell and Ms Dauriac set up Signia in 2009 and Ms Dauriac had been chief executive. By November 2014 Signia had assets of £1.47 billion.

Lawyers representing Ms Dauriac said she had been accused of stealing £26,000 in expenses. Signia lawyers put the figure at more than £33,000.

Ms Dauriac says she was constructively dismissed and lost more than £10 million worth of shares. All sides dispute allegations made against them. Lawyers representing Ms Dauriac outlined detail in written documents given to the judge. They said Mr Caudwell had made comments about Ms Dauriac needing help and being corrupt at a meeting at his home in Mayfair, London, in December 2014.

Lawyers said she had been presented with a ‘confession’ letter written by Mr Caudwell and one of his colleagues. She had been accused of deliberately charging personal expenses and encouraging members of her team to ‘cover this up’. She is also accused of using expenses for a trip to Malaga for a friend’s birthday. Lawyers representing Mr Caudwell told the judge that there had been a ‘clear breach of trust’ by Ms Dauriac. They said she had decided to resign. Lawyers said the judge would also hear evidence relating to a Polish firm Mr Caudwell was involved with. Evidence related to two women employees who had been dismissed.

Lawyers representing Signia said the women had been fairly dismissed and Mr Caudwell had not personally dismissed them. Mr Caudwell, who is in his 60s and grew up in Stoke-on-Trent, Staffordshire, was not in court yesterday.

But Ms Dauriac, 39, attended court in person.

The hearing continues.