Bannatyne finance boss charged over £8m fraud

According to the Crown Prosecution Service, Mr Watson has been charged in relation to allegations of fraudulent activity between July 2008 and July 2014, concerning electronic transfers from the company accounts to his personal accounts and those of his businesses.

“These sums of money were allegedly used to gamble, settle personal debts, and to buy and renovate properties,” a CPS spokesman said.

He will appear at Newton Aycliffe Magistrates’ Court, County Durham, on June 24.

CPS specialist lawyer John Werhun said: “The CPS has authorised the police to charge Christopher Watson with fraud by abuse of position of trust, and six counts of money laundering. Mr Watson was charged. This decision was made in accordance with the Code for Crown Prosecutors.

“After careful consideration it has been decided that there is sufficient evidence for a realistic prospect of conviction and a prosecution is in the public interest.

“Mr Watson will appear before Newton Aycliffe Magistrates’ Court on 24 June 2015.

“May I remind all concerned that criminal proceedings have now commenced and the defendant has the right to a fair trial. It is extremely important that there should be no reporting, commentary or sharing of information online which could in any way prejudice these proceedings.”

The Bannatyne Group, which is based in Darlington, Yorkshire, runs hotels, spas and health clubs across the UK.

It was established by the now well-known TV entrepreneur in 1996 and boasts more than 180,000 gym members.