Ecclestone son in law splurges £3.5MILLION on art in a year

ONCE described as ‘a flash b******’ by his father-in-law, the billionaire Formula One boss Bernie Ecclestone, James Stunt continues to have an eye for the finer things in life.

For I can disclose that the husband of heiress Petra Stunt has spent £3.5 million on art works over the course of a year. The astonishing figure is contained in newly published accounts of his firm, Stunt Acquisitions Ltd, which he has filed at Companies House.

Businessman and art dealer Stunt, 34, who married Petra in a spectacularly over- the- top Italian ceremony in 2011, is the sole shareholder in the firm, which he set up in 2014. The accounts, which cover the 12 months to the end of last June, disclose that Stunt ( pictured with Petra) put £3.5 million into the business. He could not be reached for comment yesterday to explain where the money was from.

The firm held just under £4 million in fixed assets, of which £3.5 million is reported as being works of art. Bills of £1.2 million are reported as due, leaving the business worth £2.8 million. Despite its net worth, its profit- and- loss account shows £715,000 in losses.

Bernie once criticised Petra, 27, and her 31- year- old sister Tamara for squandering his estimated £2.5 billion fortune on fast cars, mansions and designer clothing.

Last month, James took delivery of a £3.1 million Lamborghini, to add to his notorious cavalcade of RollsRoyce Phantoms and Bentleys, which he uses for his regular shopping

trips to Harrods. Bernie admitted that he had looked into Stunt’s background and finances before Petra’s marriage, but nothing he found gave him cause for concern.

The tycoon appears to be intent on reasserting his control of the family finances. Last month, I reported that Bernie had taken out a charge on the £66 million Chelsea home lived in by Petra and James which would ensure he would receive the proceeds should it be sold. When the property was bought in 2012, it was listed in Petra’s sole name.

The heiress had married Stunt after he signed a pre- nuptial agreement, and the couple moved into the six- storey Chelsea mansion, where they still live with their three children.