Bannatyne Group finance director charged with fraud

Christopher Watson accused of transferring funds totalling £8m from company accounts into his own

The Guardian, Rebecca Ratcliffe and agencies, 4 June 2015

Duncan Bannatyne started Bannatyne Group in 1996. Photograph: John
Alex Maguire/Rex Features

A finance director who worked for the entrepreneur and Dragons’ Den star Duncan Bannatyne has been charged with fraud and money-laundering offences totalling almost £8m.

Christopher Watson has been accused of electronically transferring money from Bannatyne Group accounts to his own personal accounts and those of his private business interests.

The money was allegedly used to gamble, settle personal debts and to buy and renovate properties, according to the Crown Prosecution Service.

The fraudulent activity is alleged to have taken place between July 2008 and July 2014.

Watson will appear before Newton Aycliffe magistrates court on 24 June.

The Bannatyne Group, which is based in Darlington, runs hotels, spas and health clubs across the UK. It was established in 1996 and boasts more than 180,000 gym members.