Ex-Providence director cleared of Wembley sexual assault charge

Former Providence Investments Funds director Steve Dewsnip has been cleared of a charge of sexual assault in a Wembley Stadium suite.

Dewsnip, a 49-year-old ex-director of the collapsed Guernsey-based financial firm, was, as reported, accused of the alleged assault at an England football international at Wembley Stadium last year.

He appeared at Harrow crown court on Friday to hear the judges’ verdict. And after being cleared of the charge, he said in a statement: “I am delighted that the jury saw the truth of the matter and returned a not guilty verdict. I would like to thank Sarnjit Lal from Tuckers Solicitors, my barrister John Cooper QC and the rest of my legal team.

“But I am appalled that the case was brought in the first place with no real evidence against me. I have the utmost respect for women and would never dream of behaving in the way portrayed in court. My thoughts are obviously with the woman in this case.

“But I would never act in this way. This has also been a terrible ordeal for me, my partner, family and friends. I am thankful that my good name has now been restored and that I can now get on with my life,” he said.

The founder and former chairman of Guernsey FC, Dewsnip is known as a former director of now collapsed Guernsey-based financial firm Providence Investments Funds.

Providence collapse

Dewsnip resigned from his position as director at Providence in early August just weeks before Guernsey Financial Services Commission (GFSC) ordered the stricken fund to be wound up, deeming it insolvent. He also left his position at the amateur Guernsey football club in August for “family and professional reasons”.

Jersey’s financial services regulator also shut down local IFA firm Lumiere Wealth, after an investigation into the sale of Providence Investment Funds to its clients.

Also, as reported, as a result, Lumiere Wealth’s founder and managing director, Christopher Byrne was arrested in October, charged with a £1m (US$1.2m) fraud linked to the funds.

As reported in August, Providence Global, a majority owner of Lumiere, was investigated for its links with Miami-based Providence Financial Investments for defrauding investors out of US$64m.

In September, a group of British expats also named Dewsnip in a lawsuit against NM Rothschild over a Spanish property scheme which allowed them to take out mortgage worth up to 75% of the value of their homes.

ABOUT THE AUTHOR
Gary Robinson
Deputy Editor, International Investment and Head of Video at Open Door Media Publishing. A fully qualified journalist and filmmaker with more than 20 years' financial services experience, both as journalist and originally as an IFA.

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