Former racehorse owner from North Tyneside denies £64m fraud

Dance will next appear at Newcastle Crown Court. Credit: PA

Leading former racehorse owner John Dance has appeared in court to deny taking more than £64 million from wealth management fund clients for himself.

The 50-year-old businessman, from North Tyneside, pleaded not guilty to nine criminal charges including fraud by abuse of position, fraud by false representation and money laundering.

The alleged offences are reported to have taken place between February 2014 and March 2023.

Dance was the principal partner at wealth management fund Vertus Asset Management, which later became the firm WealthTek.

He appeared at North Tyneside Magistrates’ Court for a 15-minute hearing on Friday 3 January.

In court, Dance confirmed his name, age and address. He answered “not guilty” in a hushed voice to each of the nine charges read out by the clerk.

He will next appear at Newcastle Crown Court on Monday 6 February.

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