Fraudster owing £76m faces jail threat for ‘extravagant’ parties

Gerald Smith, who owes £76 million from an unpaid confiscation order

(Picture: Jeremy Selwyn)

A notorious fraudster who jetsetted round the world despite owing taxpayers tens of millions of pounds is facing a new prison term after using secret accounts to splash out on "extravagant" parties and meals at top London restaurants and even more flights.

Gerald Smith, who owes £76 million from an unpaid confiscation order, spent money on meals at Scott’s in Mayfair, nearby Zoilo, and Pollen Street Social in Soho. One meal is understood to have cost £1,000 and another £700.