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Phones 4u founder in High Court battle with financial expert accused of fiddling her expenses

 Nathalie Dauriac worked with John Caudwell - © Eddie Mulholland
Nathalie Dauriac worked with John Caudwell - © Eddie Mulholland

Phones 4u billionaire John Caudwell's former right-hand woman claimed expenses for a haircut, a "detox week" and beauty treatment, a court has heard. 

French financial expert Nathalie Dauriac, is in a High Court battle with the businessman after being accused of stealing expenses.

Credit Card statements showed she spent £111 on coffee with three other people, a judge heard. She also claimed £38.97 for coffee with one other person.

Ms Dauriac was chief executive at a wealth management company she set up with Mr Caudwell but left after complaints about expenses claims, Mr Justice Marcus Smith heard.

Bosses at Signia Wealth Management say Ms Dauriac wrongfully claimed around £30,000 expenses and that she decided to resign rather than face the consequences of her actions.

John Caudwell  - Credit: Luke MacGregor/Bloomberg
John Caudwell founded Phones 4u Credit: Luke MacGregor/Bloomberg

Ms Dauriac, who was once so close to Mr Caudwell that she made him godfather to one of her children, says there was an ulterior motive behind an expenses investigation and has complained of constructive dismissal and not getting what she was due. She says she lost more than £10 million worth of shares and wants compensation.

All sides dispute allegations made against them. Mr Justice Smith has been shown an expenses spreadsheet put together by lawyers representing Signia showing claims for flights plus claims for gifts for Mr Caudwell, who founded mobile phone firm Phones4U.

It included a £200.70 claim for "beauty treatment in Paris with John Caudwell", a £104 claim for a birthday cake and a £127.07 flight claim to Spain for a "ladies client detox week".

Also on the spreadsheet is a £700 claim for "Client dinner meetings at Nathalie's house" and a £157.99 claim for "Thank you flowers".

Signia lawyers said a credit card statement relating to a £135 "John Caudwell meeting" claim showed that the money had been spent at "Mad Lillies hair salon".

 Nathalie Dauriac - Credit: Eddie Mulholland 
Nathalie Dauriac said her expenses related to Mr Caudwell Credit: Eddie Mulholland

Thomas Plewman QC, who is leading Ms Dauriac's legal team said expenses claims had to be seen in context. "They say expenses were funding a lavish lifestyle," he said.

"We say that is the wrong analysis. This is not a hardware store, this business. This is a relationship business."

Mr Plewman said Ms Dauriac had spent all her time strengthening Signia's relationships and had leveraged her private life.

Mr Plewman said 70% of Ms Dauriac's expenses claims related to Mr Caudwell, and that she was the victim of a campaign instigated by Mr Caudwell. 

"Ms Dauriac was constructively dismissed," said Mr Plewman in a written case outline.

"Signia had no right to summarily dismiss Ms Dauriac: she had not committed any act of gross misconduct, whether in relation to expenses claimed from Signia or otherwise."