Real estate

Financier has $20 million home seized

One of the London banks put up for sale a house, alienated for debts from the Dutch financier Robert Bonnier. This seizure of real estate for mortgage debt is considered the largest in the history of the UK.

Bonnier, 38, a former investment banker who made a fortune during the dot-com boom, acquired a six-bedroom mansion in West London last year. His company Crystal Holdings bought this facility for $ 21 million.

Bonnier paid $ 7 million from his own pocket, borrowed the rest from banks. However, subsequently he could not pay off his debt, and then completely left the country due to financial difficulties and problems with the law, United Press International reports.

The house is up for sale in excess of $ 27 million.

A London financier has had his $20 million home seized by the bank in what is believed to be Britain’s biggest-ever house repossession.

Robert Bonnier, 38, a former investment banker who made a fortune during the dotcom bubble, bought the six-bedroom house in west London last year.

His company, Cristal Holdings, paid more than $21 million for the property, well above the original asking price.

Bonnier is believed to have paid more than $7 million in cash for the home and borrowed the rest from banks.

The home is now on the market for more than $27 million, the newspaper reported.

The Dutch-born financier is believed to have left Britain amid financial and legal difficulties.

Bonnier is the target of an investigation concerning Global Trader Europe, a derivatives brokerage.

He was fined in 2004 by the Financial Services Authority after he was found to have misled investors about his intentions in bidding for Regus, an office rentals group.

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