View more on these topics

Elton John’s charity sues IFA over unpaid auction bid

Spencer Lodge, regional director at de Vere Group, is being sued by The Elton John Aids Foundation for failing to honour a £700,000 bid made at a charity auction, according to media reports.

Lodge, who is based in Dubai, signed a contract promising to pay the money to the foundation, according to reports in the Mirror Newspaper, but is yet to pay up more than a year after the event took place.

Lodge made the bid, for a day out with John and his husband David Furnish, at the charity’s White Tie and Tiara Ball in June 2010. Another bidder had already offered £650,000 for the prize, before Lodge made his higher bid.

Lodge’s employer, De Vere Group describes itself as ’the world’s largest firm of independent financial advisers’ and has 44 advisers in offices in more than 40 countries.

Last year Lodge was fined $800 by a Vermont court when he was found to have driven a rented Lamborghini Spyder at more than 104mph on the local freeway during a Cannonball Run-style event for sales staff, according to media reports.

Lodge was not available for comment at time of publication.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm