James Stunt, a businessman and former husband of Formula One heiress Petra Ecclestone, has finally been cleared of money laundering charges after years of legal battles.
Accused of being at the center of a £266 million operation that allegedly turned criminal cash into gold, Stunt always maintained his innocence.
The case, which spanned nearly a decade, saw his assets frozen, his reputation questioned, and his life turned upside down.
After two lengthy trials and years of uncertainty, a jury at Leeds Crown Court found Stunt not guilty by majority verdict.
The moment the verdict was read, Stunt clapped his hands together in relief and shared an emotional embrace with his father.
While he walked free, others in the case faced a different fate—one co-defendant collapsed in tears after being found guilty, while three others, reportedly on the run, were also convicted.
Years of Wealth, Lavish Spending, and Legal Troubles
Stunt, 43, once lived in extravagant luxury, famously residing in a Los Angeles mansion and spending millions on art, fine wine, and a fleet of luxury cars.
During his six-year marriage, which ended in 2017 with a £10 million divorce settlement, he and Ecclestone spent a staggering £69 million.
His lifestyle resembled that of a modern-day emperor, indulging in high-stakes gambling and acquiring masterpiece paintings.
However, his world started crumbling when his gold refinery venture in Sheffield failed.
Unable to source the raw gold he needed, he entered a partnership with a Bradford-based jeweler.
Prosecutors alleged that this venture evolved into a full-scale money laundering operation, with up to £30 million in alleged criminal cash being funneled through his London offices and deposited into business accounts.
Despite these accusations, Stunt insisted he had no knowledge of any wrongdoing.
The Courtroom Drama and His Defense
Throughout the trial, Stunt’s defense team argued that he was unaware of the illicit activities happening within his company.
He pointed to his charitable donations, including £2.2 million to various charities, and even presented a photograph of himself with King Charles as evidence of his respectable social standing.
Letters from the then-Prince of Wales, acknowledging Stunt’s charitable contributions, were deemed inadmissible in court.
Despite the prosecution portraying him as a “conman” who had spent his life “putting on a front,” the jury ultimately decided there was not enough evidence to prove that Stunt knowingly participated in the money laundering scheme.
The Financial Fallout and What Comes Next
Although Stunt is now a free man, the financial consequences of his legal troubles remain uncertain.
His assets have been frozen under a court restraint order since the case began, and he was declared bankrupt in 2019.
Now, his legal team is set to request the lifting of the restraint order, though it is unclear how much of his former wealth remains intact.
The legal battle also came at a significant cost to taxpayers.
Due to his bankruptcy, Stunt was granted Legal Aid, with his defense costs reportedly exceeding £1.5 million.
The trials, which spanned a total of 11 months, required substantial public funds to cover legal fees, court costs, and other expenses.
Will Stunt Reclaim His Former Life?
While Stunt once hinted that he could return to his lavish lifestyle if acquitted, the reality of his financial situation remains uncertain.
His art collection, fine wines, and properties have been under legal scrutiny, and any hopes of a comeback may depend on future court rulings regarding his frozen assets.
For now, he has described the last nine years as “hell” and remains focused on rebuilding his life.
Whether that includes a return to wealth and high society or a more modest future is yet to be determined.