British Racing Legend Sues Accountant For Fund Losses

Law360, London (March 18, 2020, 5:43 PM GMT) -- A former British racing star is suing an accountant for £5 million ($5.79 million) in damages, saying the man he treated “like a son” frittered away money from a private equity fund on poor investments and holidays for himself.

Frank Sytner, 75, who was nicknamed “Fearless” during his racing career in the 1980s, entrusted Laurence Vaughan with the management of Synergy Fund LLP, into which he invested £15 million of his own money, according to the claim.

He filed High Court proceedings March 9, alleging that £12.5 million of the fund was lost, some of which was from mismanagement by Vaughan....

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