Tamara Ralph says her luxury fashion label ‘was ruined because my former lover stole millions’ 

The glamorous designer of Meghan Markle’s £56,000 engagement dress has accused her formerBusiness partner and boyfriend of stealing million of pounds from their luxury fashion label Ralph& Russo were key contributors to the collapse.

For a decade, Tamara RalphMichael Russo was one of the most formidable couple in the country. fashion, with A-list clients such as Gwyneth Paltrow and Angelina Jolie, and Kylie Minogue.

The Mail has seen explosive court documents claiming that their professional relationship ended. becauseMr Russo was bullied, harassed, and beaten herAfter she tried to stop him from plundering huge sums from their company, he was finally stopped.

We shared earlier this month how both Ms. RalphAccording to legal documents, Mr Russo has been accused of plundering millions of pounds from the renowned fashion labelTo bankroll their jet-set lifestyle. 

For a decade, Tamara RalphMichael Russo (pictured) was one of the most formidable couples in the country. fashion, with A-list clients such as Gwyneth Paltrow and Angelina Jolie, and Kylie Minogue

We also reported allegations Ralph & Russo’s pension pot was raided before it plunged into administration in March, and that £2.8 million was owed to the taxman. The Serious Fraud Office and Pensions Regulator were notified of allegations of financial wrongdoing.

Class Rings

Ms Ralph, 39, who is being sued in the High Court by the company via its administrators for £20.8 million in damages, has always denied the allegations. In extraordinary legal documents, the company now details the allegations. herShe claims defence

Investigations discovered that Mr Russo spent company money in a casino in London’s Mayfair and on renting a secret property in LA;He used the label’s money to fund a trip to Dubai, where he booked adjoining penthouse hotel suites;He went behind herReturned and purchased a luxury Range Rover using company funds;She attempted to block him from using the company’s bank account;Mr Russo launched a campaign of ‘bullying, harassment, and abuse’Against her;The stress caused by Russo’s conduct, and from being sued by a company belonging to an investor, caused Ms Ralph, who was pregnant at the time, to be hospitalised;Mr Russo was sacked as the company’s CEO last October due to his ‘abusive conduct’ towards her. The glamorous designer of Meghan Markle’s (pictured) £56,000 engagement dress has accused her former business partner and boyfriend of stealing millions of pounds from their luxury fashion label Ralph & Russo, contributing to its collapse

Related  Whataburger beefs up fashion line with new outdoor apparel from Academy

The glamorous designer of Meghan Markle’s (pictured) £56,000 engagement dress has accused her formerBusiness partner and boyfriend of stealing million of pounds from their luxury fashion label Ralph& Russo were key contributors to the collapse

Australians Ms RalphMr Russo and their foundation labelIn 2010. They were awarded global acclaim for designing the black gown with beaded bodice worn on Meghan in December 2017. herOfficial engagement photos

According to court documents, their relationship ended in 2017 and they are no longer together professionally. ‘steadily deteriorated from 2019 as a result of Mr Russo’Ms. is subject to discrimination, abuse, harassment, and bullying Ralph’. 

It is claimedThat by late 2019, the company’s chief financial officer had alerted Ms Ralph that ‘large withdrawals of cash’Mr Russo made the announcement ‘which did not appear to be for business purposes’.

In February 2020, she was warned that the company was breaching an agreement that no more than £2.5 million could be paid out in so-called ‘directors’ loans’.

Ms Ralph saysShe advised Mr Russo not to withdraw funds. ‘repay the sums he owed’. However, the documents show that she was not mentioned and that Mr Russo visited her in March. ‘used company funds to book three first-class flights and interconnected penthouse hotel suites in Dubai’.

It is claimed that Ms. Ralph tried to stop Mr Russo’s spending by insisting that both she and the company’s chief financial officer approve any future payments but that he again refused to comply.

Ms Ralph says herAttempts to challenge her business partner’s conduct resulted in his ‘campaign of bullying, harassment and abuse’Becomes increasingly hostile ‘and escalated into repeated menacing statements that he wanted Ms Ralph to die’. She claims that this is the cause herPanic attacks.

Ms. Ralph claims Mr Russo’s alleged abusive conduct led to him being dismissed for gross misconduct on October 9, 2020. Last night, the administrators claimed that Mr Russo was already out of the firm seven months prior to his dismissal. RalphIn ‘sole charge’The year before its collapse. Source close to Ms RalphThis account was challenged, however, stating that Mr Russo, as well as a new CEO, served as directors during the period.

Related  Millville breaks in new digs in rousing fashion

Ms. Ralph of spending thousands of pounds of the company’s money on luxuryHotels, business-class flights and lingerie. She denies that she took cash from the company and used it to fund an extravagant lifestyle. She says her use of the company’s expense account was ‘entirely transparent’.

Of the money she withdrew in so-called directors’ loans, she says she has repaid £316,000 and intends to repay the outstanding £195,000.

Explosive court documents, seen by The Mail on Sunday, claim their professional relationship disintegrated because Mr Russo (pictured) bullied and harassed her after she attempted to stop him plundering vast sums from their company

The Mail published explosive court documents on Sunday claiming that their professional relationship has ended. becauseMr Russo (pictured), bullied, harassed herAfter she tried to stop him from plundering huge sums from their company,

She blames herEx-partner for the millions of people who vanished. ‘Mr Russo abused his position as CEO, and his access to the company’s bank account and the associated bank card, by misappropriating millions from the company and by taking steps to conceal these misappropriations,’ the legal papers say.

Ms RalphHe now lives in South France with herBhanu Choudhrie’s billionaire boyfriend admits that the company bought a Rolls-Royce for them in 2017. says that it was used for business purposes and she believed it would raise the company’s profile. She claims that Mr Russo used company funds for the purchase of a Range Rover. herknowledge, and then subjected herTo ‘serious abuse’She objected.

Her legal papers also state that Mr Russo used company money to purchase two properties in London, which were apparently used by his girlfriend. It is also claimed that the company paid for a Los Angeles rental property that was falsely described in Dubai. labelA boutique was opened.

Ms RalphClaims that Nick Candy, the administrator and property developer of Candy Ventures Sarl, loaned the funds to the administrators earlier this year fashion house £17 million, pressured herContinued work with Mr Russo despite him being fired as CEO. Despite this, the pressure was applied ‘detailed knowledge of Mr Russo’Ms. was guilty of gross misconduct Ralph’, the defence document states.

The administrators, Quantuma Advisory Ltd and Begbies Traynor Group, stated: ‘Mr Russo exited the business in March 2020 (when he moved to Dubai), leaving Ms Ralph in sole charge from then onwards. As set out in the legal claim against her, the abuse of pension money, tax contributions and misuse of company funds took place on her watch from March 2020 until it went into administration on March 17, 2021.’

Related  D2C fashion brand Bewakoof raises ₹60 crore

Candy Ventures Sarl stated: ‘Over £70 million of investment has gone down the drain, pension money has been stolen, and the company accounts have been misrepresented. These are serious acts of financial misconduct and we look forward to the evidence being presented in the High Court.’

A formerStaff member: ‘I’I was shocked at the legal claims against me Tamara Ralph. It is not possible that company funds or pension contributions from hard-working employees could have been used for funding. Tamara’s extravagant lifestyle in the South of France when she should have been trying to save the company and save jobs.’

A Russo spokesperson stated that he was not involved with any executive decisions for nearly a year prior to the company’s collapse into administration. 

He also added: ‘Mr Russo is both surprised and saddened that Tamara Ralph has chosen to make such serious, misleading and false allegations against him as part of her defence to the claim against her from Ralph & Russo’s administrators. Mr Russo worked tirelessly alongside Ms RalphThe company has been growing from zero to a global brand for over a decade and has received the highest respect and admiration. her.’

In a statement Tamara Ralph ‘I will leave others to reflect on the irony of Ralph & Russo’Bullied, unfairly criticized, and targeted for financial misconduct despite her attempts to stop it, the female founder, creative force, face of the brand was being targeted. Furthermore, to be victimized in a public smear campaign has been appalling.’ 

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *