Fashion brand Ralph & Russo could face criminal investigation over “£ 176,000 pension fund raid”

The founder of a luxury fashion label who designed Megan Markle’s £ 56,000 engagement dress was reported to the Serious Fraud Office over the collapse of the company, a Sunday email can reveal. Ralph & Russo managers confirmed last night that they had warned SFO about allegations of financial misconduct, including allegations that the company’s pension pot was attacked before it collapsed in March last year. MoS released a sensational court document last week claiming that Tamara Ralph and Michael Russo were accused of plundering millions of pounds from fashion houses to fund their jetset lifestyle. Ms. Ralph denied the claim, saying it was “misunderstood and clearly false.” She hasn’t submitted a response to the court yet, but has confirmed that she is defending the allegations. MoS released a sensational court document last week claiming that Tamara Ralph and Michael Russo were accused of plundering millions of pounds from a fashion house to fund the Jetset lifestyle. The document also contained a special claim that about £ 176,000 was “allocated and / or diverted to the company’s pension system” between October 2020 and March 2021 on Ms. Ralph’s watch. .. When it collapsed, the company was alleged to be owed to a £ 2.8m tax collector after the money was deducted from the staff’s payment packets but not passed to HMRC. In a statement to MoS, the manager said he had reported the case to both the SFO and the pension regulator, which has its own prosecution rights. Revelation occurs when a former employee attacks the company and insists that: The staff urged the company’s Human Resources department to ask Ralph to stop posting selfies on Instagram’s private jet. Furious at being in debt, an Italian supplier flew to the UK and arrived at the company’s luxurious London headquarters without notice, demanding immediate payment. lSalaries was paid late for at least 5 consecutive months. After its launch in 2010, Ralph & Russo has skyrocketed to become one of Britain’s most famous luxury fashion houses. In addition to Megan Markle, his A-list clients included Angelina Jolie, Beyonce, Penelope Cruz, Nicole Kidman, and Gwyneth Paltrow. However, the label entered the administration earlier this year with a debt of £ 23m. Glamorous Ralph, 39, accused the pandemic, but court documents claim that the company had attacked a huge amount of money. Russo is accused of withdrawing £ 2.6 million from the company on a so-called director loan, while Ralph is alleged to have received £ 195,436. One former employee who wanted to remain anonymous spoke last night about his anger at how the company operated in the years before it went bankrupt. “Everyone feels frustrated and angry,” he said. “Their extravagant behavior was too much. I have never seen people in their position live like them. It’s all” Let’s make fashion, spend all this money Let’s do it. ” You couldn’t control what went in and out and how the company was actually doing well. It spent, spent, spent all the time. “ Court documents alleged that Mr. Ralph and Mr. Russo had “withdrawn a significant amount” from the company. Ralph, with an annual salary of £ 225,000, said in court documents that he spent the company’s money on luxury hotels, business class flights, pet-related expenses, utilities, yoga classes, lingerie, housekeepers, and beauty expenses. I will. And hair care. ” Russo is said to have withdrawn more than £ 151,000 from an automated teller machine that managers believe to be at Mayfair Casino. A former employee said staff were to be paid on the 27th of every month, but the payday was repeatedly postponed between the 3rd and 6th. He said financially deprived staff were advised to consult with HR. After its launch in 2010, Ralph & Russo has skyrocketed to become one of Britain’s most famous luxury fashion houses. Supplier across Europe, including debt of over £ 170,000, is also claimed to have been unpaid. “A supplier who flew from Italy to headquarters without notice jumped into the door and said,’I need money today,’” said a former staff member. As the turmoil deepened, more than 50 staff members allegedly emailed HR to find out what was happening. Former employee wonders why suppliers are still waiting for money when Ralph & Russo opens a luxury store in Monte Carlo, which is thought to cost more than £ 3m in 2019 I said it would be. It is also said that the staff approached HR over Ralph’s posting on social media. “She was taking Instagram selfies on her private jet. We even told HR,” Can you ask me to stop posting photos? ” I got a call from the supplier. ” Forensic investigators see what happened to about £ 60 million sent to the company by investors, including a £ 17 million loan from a company belonging to real estate developer Nick Candy between 2018 and 2020. I’m trying to find out. Sources close to Mr. Ralph denied that Mr. Ralph was responsible for the company’s financial difficulties. They also denied staff payments were delayed and said they were unaware that staff were approaching the HR department regarding the company’s financial position and the use of private jets. She also doesn’t know that the supplier is in debt of over £ 170,000 or that the supplier has arrived in London requesting payment. US investment firm Retail Ecommerce Ventures acquired the company earlier this month, but Ralph and Russo will no longer be involved. According to sources close to Ms. Ralph, the allegations in the court documents are only one side of the story, and these allegations are completely denied, as will become apparent when her defense takes place. Russo did not respond to the request for comment. Private flight for couples spoiled pet chow chow – called Beluga, Money, Caviar Beluga, embraced by a charming owner in a private executive jet, seems to have a pet Chow Chow enjoying a high life, Mark Hookham wrote. However, spoiled dogs owned by fashion designer Tamara Ralph can now be dragged into sensational High Court legal claims. Court documents allege that Ms. Ralph spent money from her luxury fashion company Ralph & Russo on “costs related to her pet.” According to sources close to the company, this is believed to be related to spending on her beluga whale and is understood to be named after the type of caviar. Ralph, 39, vehemently denied the claim. A former employee says Ms. Ralph bought Beluga after she began a relationship with Anglo-Indian billionaire and Liberal Democratic Party donor Banu Choudhry. At the time, 43-year-old Choudhrie also owned two chow chows named Caviar and Money. One photo posted by Ralph on Instagram shows Ralph and Choudhry, who live together in Monte Carlo, flying in a private jet with their two dogs. Beluga, a pet chow chow hugged by a charming owner on a private jet, seems to enjoy a high life. There is no suggestion that Choudhrie used Ralph & Russo’s money to pay for his dog. A former employee who wanted to remain anonymous said Beluga would often go with Ms. Ralph to a fashion brand’s office in White City, western London. However, it is claimed that the dog was not completely trained at home. “Beluga was sometimes in the office,” said a former staff member. A former employee claimed that the beluga was regularly taken to a grooming parlor and at some stage sent to a training school. Caviar died in November 2020. In a moving Instagram comment, Ms. Ralph posted nine photos of a couple’s pets in honor of the dog. She writes: “Our heart broke and lost you so young, and suddenly you were the most beautiful puppy with the warmest heart, our house has a great emptiness there today. “You have brought so much warmth and happiness to our lives, we will miss you so much our baby caviar. Tear our angels.” Chow Chow, known for its dense double coat, is a breed of dog born in northern China and is called Song Sikuan, which means “a puffy lion dog.” A source close to Mr. Ralph said the claim that she used company money to pay for pet-related costs was completely false. Ralph: “Slandering campaign designed to bully me” Designer Tamara Ralph denied she was responsible for the collapse of her luxury fashion company last night, claiming she was a victim of the “Smear Campaign.” On a ferocious Broadside, Ralph, 39, expressed concern about how Ralph & Russo was financially controlled, but claimed that he had been “abused and despised.” “I’m ready to stand up for myself,” said Ralph, who wears haute couture gowns by Hollywood celebrities, vowing to “fight to clear his name every time he breathes.” I will. “ A sensational legal document revealed by email last Sunday blamed fashion label financial distress for Ms. Ralph’s “serious misconduct.” But in a statement to MoS, Ms. Ralph said the claim was “obviously false” and “distrusted me about what really happened at Ralph & Russo and stopped talking. It was designed. ” She said:’There is a slander campaign aimed at destroying my name and my career. I tried my best to save the company, but bullying and intimidation prevented me in every situation. Sadly, these are tactics that are accepted by many women in the workplace. “In my resignation, I told all shareholders and directors many of the reasons for leaving the business, so they will know what happened to me. “I resigned when I couldn’t be abused. If this doesn’t go away, I’ll bring my case to an employment referee.” Ralph added: “I don’t like the fact that this behavior is widespread in the women’s celebration industry.” Fashion brand Ralph & Russo could face criminal investigation over “£ 176,000 pension fund raid” Source link Fashion brand Ralph & Russo could face criminal investigation over “£ 176,000 pension fund raid”

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