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BREAKING: Good news for Julie “Lingerie on Expenses” Meyer, the FCA fails us all again

By Tom Winnifrith | Wednesday 18 January 2023


 


A source close to the enquiry confirms that the FCA criminal investigation into Julie Meyer has been ended. She is a free woman. Well apart from that outstanding High Court arrest warrant and unpaid tax bills in the UK, Malta and America and an unsatisfied six figure personal guarantee to Barclays Bank.

Following the collapse of Ariadne Capital the evidence against Meyer was, in my view, compelling. This website showed how she tried to raise money on the back of accounts that were laughable fiction, how she used shareholders funds to fund her personal lifestyle including the purchase of lingerie and a sex toy on expenses. We showed how she had lied to investors and paid her expenses up to date while leaving staff, the bank, HMRC, 31 firms of layers and other creditors whistling. If that is not all fraud, what is?

The Administrator of Ariadne supplied reams of evidence as did numerous others but the FCA has dropped the case. Presumably it can now celebrate a bit more gender diversity at a boardroom level and will see this as a victory over the misogynists who are Julie’s only critics, according to her.

Given the outstanding arrest warrant it is unlikely that Meyer will seek to restart her UK business career but this must go down as yet another lamentable failure on the part of the FCA. It is just not fit for purpose.
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