John Dance pleads not guilty to multiple fraud charges in court
Newcastle: So, John Dance, a former racehorse owner, just showed up in court. He’s denying he took over £64 million from clients at his wealth management firm. Can you believe that?
This guy, who’s 50 and from Murton Village, is facing nine charges. They include fraud and money laundering. He’s saying he didn’t do it, though. The alleged stuff happened between February 2014 and March 2023.
Dance used to be a part-time DJ and ran a nightclub. He was a big deal at Vertus Asset Management, which later became WealthTek. Now, he’s accused of using client money to buy racehorses. Wild, right?
He had some notable horses, like Bravemansgame, which won a big race in 2022. But he doesn’t own that one anymore. In court, he looked pretty calm, just wearing a shirt and tie under a blue jacket.
When the charges were read out, he quietly said “not guilty” each time. The prosecutor laid out the case, saying he swindled clients out of £64 million. That’s a lot of cash!
His lawyer mentioned that the trial will focus on whether Dance acted dishonestly. He’s sticking to his guns, saying he didn’t do anything wrong.
The judge decided the case will go to crown court. Dance’s next court date is February 6, and he’s out on bail for now. Outside, his lawyer said Dance didn’t want to comment further.
