Tony Stitt, 78, faces fraud charges over claims he siphoned £411,000 from a family trust fund
A well-known Hampstead accountant appeared in court this week, accused of stealing more than £400,000 from a family trust fund he managed over a three-year period.
Tony Stitt, 78, who once advised financial giants including Deloitte, Merrill Lynch, and Deutsche Bank, is alleged to have fraudulently transferred £411,213.32 into his personal bank account between January 2017 and August 2020.
Wearing a blazer and leaning heavily on a walking stick, Stitt stood in the dock at Highbury Corner Magistrates’ Court on Monday to face two charges: fraud by false representation and fraud by abuse of position. He pleaded not guilty to both.
The case, brought after a Metropolitan Police investigation, centres around a trust fund Stitt was entrusted to oversee. Prosecutors claim that instead of safeguarding the fund, he began to “dip into it” without authorisation, funnelling large sums into his own account in what was described as “fraudulent activity over a sustained period of time.”
The court heard that the alleged victims include David Levy, Jon Morgan, and Sharon Levy, though further details of their connection to the fund were not disclosed during the preliminary hearing.
According to his publicly available CV, Stitt has decades of high-level financial experience, having worked in the City of London and run his own practice in Hampstead and Swiss Cottage since 2010. His biography outlines a storied career providing tax advice to global finance firms and managing complex financial portfolios.
Embed from Getty ImagesHowever, prosecutors allege that this trusted position was abused when Stitt began making personal transfers from the fund he managed. “Mr Stitt was in charge of a trust fund,” the prosecutor told the court. “He effectively started dipping into it without authorisation.”
Despite the serious nature of the charges, Stitt represented himself in court, stating that he had suffered a stroke a couple of years ago. He did not comment publicly on the allegations but was advised by magistrates to seek legal representation ahead of his next appearance.
Stitt, who resides on Goldhurst Terrace in South Hampstead, was granted unconditional bail. He is due to appear at Wood Green Crown Court on 21 July, where the full details of the case will be presented.
The allegations have stunned parts of the Hampstead community where Stitt was known professionally. The case has also reignited concern over the vulnerability of family trust funds, especially when overseen by sole individuals with significant financial autonomy.
While no public statements have yet been issued by the alleged victims, legal experts suggest that if found guilty, Stitt could face a substantial custodial sentence due to the amount involved and length of the alleged fraud.
The case comes amid broader public scrutiny of financial misconduct within trusted professional circles, with recent high-profile fraud cases underscoring the importance of transparency and accountability in trust and estate management.
As the case moves to the Crown Court, attention will now turn to how a man once considered a pillar of financial integrity ended up accused of one of Hampstead’s most substantial recent frauds.
