Property Investor Says Ex-CEO Knows Payments Were Faked

Law360, London (November 20, 2019, 3:21 PM GMT) -- The founder of an investment company urged a London judge on Wednesday to throw out his son-in-law’s defense against accusations that he siphoned away £14.5 million ($18.7 million), arguing that he has admitted that the payments were dishonest.

A lawyer for Arthur Matyas, founder of Tonstate Group Ltd., told Judge Antony Zacaroli at the High Court that his son-in-law, Edward Wojakovski, had acknowledged that money extracted from subsidiaries of Tonstate “had no legitimate business purpose.”

Andrew Fulton of 20 Essex Street, representing Matyas, claimed in written arguments on Wednesday that Wojakovski, former chief executive of the property investment company, had admitted...

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