Welcome to the wild wild west.
Pragnesh Modhwadia, the owner of Axion Ince who is alleged to have taken £66 million from his firm’s client account, parties hard, RollOnFriday can confirm.
In videos passed to ROF, the Modman, whose alleged actions may yet result in a £500 bill for everyone with a practising certificate in England and Wales, can be seen swigging champagne from the bottle and feeding it generously to another guest.
The footage was shot at an Axiom party prior to his takeover of Ince Gordon Dadds - a takeover employees subsequently learned had been funded by raiding Axiom's client account.
Videos were also shared of a second wild party at Reign nightclub in London, which Modhwadia hired out in July to celebrate the Ince acquisition. It's not know whether client cash funded the lavish night out, too, for which Modhwadia flew in Ince staff from offices around the globe.
Shortly after the party, the SRA visited Axiom Ince's offices to check over the acquisition and discovered irregularities which led to the suspension of Modhwadia in August.
No expense appears to have been spared: Reign sells the Dom Perignon which Modhwadia can be seen glugging for a cool £2,300 per bottle, so hopefully he didn't indulge at Ince's welcome party, too.
In the clip he dances to California Love by 2Pac as the rapper delivers the fitting lyrics, “Now let me welcome everybody to the Wild Wild West, A state that's untouchable like Eliot Ness”.
This clip alone should have fast-tracked an intervention.
Eliot Ness, or rather the Serious Fraud Office, is now investigating claims that Modhwadia and his accomplices raided Axiom's coffers to buy up firms and build a property empire.
A second clip shows half a dozen scantily clad female Reign staff waving flaming bottles of spirits against a background of screens bearing the legend ‘AXIOM MOFOS’, which is presumably a reference to the firm being full of ‘motherfuckers’ rather than the declaration of an intention to merge with Morrison & Foerster.
A party with a £66m hangover.
In a third clip, classical music plays as a merry patriot waves a Union Jack and the screens read “Axiom Ince & Co WELCOME”. (A commenter points out it's not classical music - it's the theme of The Godfather...)
Wheels already coming off.
Several of the party’s guests have now been arrested. Their purported identities, which the SFO declined to confirm to ROF, indicate that its investigation has taken in the finance, IT, secretarial and governance functions of Axiom Ince.