Fred Clough, former finance director of Versailles, has admitted siphoning money out of the trade finance group and channelling it to foreign bank accounts.
A jury at Southwark Crown Court yesterday heard that Mr Clough repeatedly flew to Switzerland to withdraw cash sums of up to Ј200,000 at a time when his assets were subject to a freezing order in the English courts.
Mr Clough is a big prosecution witness in the fraud case being brought against Carl Cushnie, Versaille's founder and ex-chairman.
Jurors were told that the Swiss account, officially in the name of his Nigerian "common-law wife", received payments of Ј10,000, Ј650,000 and Ј350,000 in 1999.
