Partners in a failed home hot tub firm that went down with debts of £2.7 million took more than a million pounds out of the business for themselves, fraud trial jurors heard.
An expert accountant called by the prosecution to assess Staffordshire-based Spaserve’s three and a half years of trading concluded that the partners were having money the business could not afford.
Two of the partners, principal shareholder Simon Foster and Stuart Cox are on trial accused of fraudulent trading and conspiracy to defraud. With them in the dock is general manager Johnathon Husselbee. They all deny the charges.