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Ex-Sotheby's boss faces jail for fraud at jewellery firm
Paul Cheston, Courts Correspondent14 Sep 2009
A former Sotheby's boss was told he faces jail today after admitting ripping off customers to keep his Mayfair jewellery business afloat.
Jonathan Condrup, 46, pocketed tens of thousands of pounds by pawning antique gems and watches entrusted to him at Bond Street Jewellers Ltd.
The victims, who were expecting 90 per cent of the sale, were fobbed off with claims he could not find a buyer for the pieces.
His fraud was only uncovered when the firm went under owing at least £35,000 to customers.
Five wealthy clients gave statements to investigators after complaining to the liquidator but prosecutors believe many victims have not come forward.
Condrup enjoyed a 15-year career with Sotheby's, becoming head of UK jewellery sales in 1996. He left in 1999.
Condrup, of Liphook, Hampshire, admitted fraudulent trading between June 2003 and October 2005 at Southwark crown court today. He will be sentenced on 16 October.
