City Index, the spread-betting firm, has filed a claim in the High Court against one of its punters who, it claims, owes £134,000.
Nothing extraordinary there. But wait, what’s this? The defendant is one Mr Edmund Patrick Jordan — that’s Eddie Jordan to you and me.
What’s so bizarre about this is that Jordan, the ex-Formula One team owner turned television pundit, is friends with City Index owner Michael Spencer. Or should I say former friend? So, how has Jordan racked up this alleged debt? Largely, it is claimed it stems from his buying derivatives — a financial instrument linked to share price movements — in MEO Australia, a resources company, in 2007, in the hope the price would rise. It seems the price moved against Jordan, and his account fell into debit. City is now claiming he owes £134,000 plus interest.
Jordan is fighting the claim vigorously, I hear. It’s a safe bet that Jordan and Spencer won’t exchange Christmas cards this year.
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Eddie Jordan sued over £134,000 bets
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