Party 'Lord' accused of £14m fraud

A "Lord" who hosted starry parties at his £30million West End townhouse, has appeared in court accused of a £12million "advance fee fraud" and £2.4million "price ramp fraud".

Edward Davenport, 43, Lord of Giffords, was remanded in custody to Wandsworth Prison. The founder of the Gatecrasher Balls, he inherited his title at 28, and hosted the likes of Cher and Kate Moss at parties in Portland Place.

He appeared alongside solicitor David Horsfall, 54, of Godalming, Surrey, and Peter Reilly, 62, of Brentwood, Essex. All three face charges of deception, conspiracy to commit fraud and money laundering relating to offences between May 2005 and this month.

The SFO claims they were involved with Gresham Ltd, which charged a 10 per cent security deposit to clients who were then left without loans or refunds. Reilly was also remanded in custody.