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The latest news on the winding up of Ariadne and legal proceedings against Julie "Lingerie on Expenses" Meyer

By Tom Winnifrith | Tuesday 8 June 2021


As I revealed HERE with a letter from the FCA, it is still conducting a criminal investigation into whether Julie Meyer MBE illegally used client funds. My source who is assisting with that investigation tells me that it is still live although, for reasons you may speculate about a find upstanding Member of the British Empire is slowing things down by refusing to co-operate. But this is not the only enquiry into Lingerie on Expenses.

The administrator into Ariadne Capital, which Meyer claimed had net assets of c£4 million just weeks before its demise as she sought fresh investment,  has produced his latest report which is below. It seems that Ariadne still has net liabilities of c£6 million and not a cent has been realised from Meyer’s bogus assets.

I draw your attention to page 7 note 5.2. The liquidators are “currently in the process of investigating historic transactions and are considering possible actions against the director and/or related parties.” Of course Meyer has tried to have these liquidators sacked and replaced with more friendly ones and failed. And she had hoped that the Liquidators, unable to generate any cash to pay their fees would stop work quickly. Unfortunately for her, another person owed cash by Ariadne is so livid at what went on that he is bankrolling the liquidators to the very end.

To have one regulatory investigation into possible criminal activity is understandable but two looks like carelessness. 


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