Trial starts for ex-JJB Sports chair, charged with fraud relating to £3m loan
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Version 0 of 1. The former chief of the Next fashion chain and chair of the now defunct JJB Sports chain took out £3m in personal loans from two other well-known retail heads while heavily in debt, "possibly due to gambling", a jury heard on Tuesday. Sir David Jones, 71, went on trial at Leeds crown court on Tuesday accused of making false statements to the market in relation to two £1.5m loans; one from Mike Ashley, owner of Newcastle United owner and Sports Direct founder, and another from Dave Whelan, founder of JJB Sports, who has now left the business. The jury of seven women and five men heard a few opening remarks from the prosecutor, Miranda Moore QC, but then the case was adjourned due to Jones's health. Judge Guy Kearl QC explained to the jury that the businessman had Parkinson's disease and it meant at times he could not follow the case and that proceedings would have to be adjourned. Before the judge intervened, Moore told the jury that Jones was a well-known figure in the retail industry and had been given "much acclaim, quite rightly, for turning around the fortunes of Next". Jones was credited with restoring Next in the 1990s, hauling it back from the brink of bankruptcy. He was brought into JJB when it too was facing collapse, in the hope he could repeat his success. Moore explained that the charges faced by the businessman related to the time when he was executive chairman of JJB, in 2009. She said he was appointed by a board who must have thought he would be a "good man at the helm". She added: "He was a man respected in the industry – well known as a retailer of good repute." The prosecutor told the jury: "Unfortunately, what the board of JJB did not know was that Sir David Jones was heavily in debt, possibly due to gambling, and he would, just after his appointment, take out substantial loans from two people who could be regarded as JJB competitors." She only managed 20 minutes of her opening statement before Jones needed to take a break for medication. The judge said: "As you know, Sir David Jones suffers from Parkinson's disease. There will be times when he's simply unable to follow the course of proceedings. When that happens, it's not right, it's not fair, it's not proper to continue the trial at this stage. I emphasise, this is not his fault. It is the fault of the condition he has." He explained to the jury that the businessman's involuntary movements, which were obvious as he sat in court, were a symptom of Parkinson's. He also told the jury the court would be sitting exceptionally short hours to allow for the management of Jones's condition. Jones, of Ilkley, west Yorkshire, sat in the dock, supported by his son, Stuart, who was also on trial. Jones denies two charges of making a misleading statement, contrary to the Financial Services and Markets Act 2000, and one of using a false instrument, contrary to the Forgery and Counterfeiting Act 1981. Stuart Jones, 39, of Bingley, west Yorkshire, denies one charge of aiding and abetting his father's use of a false instrument. The case was adjourned until tomorrow. |