Tessa Jowell’s husband David Mills lost $3.65m with MF Global

The full list of MF Global creditors makes for interesting reading

According to the full MF Global losers list available to view at Scribd.com, former Culture Minister Tessa Jowell’s estranged husband David Mills lost $3.65m investing with the company. While the Nation mourns about that loss, perhaps we should also bear in mind that, since late 2009, Mr Mills has lost most of his money, his wife, several Court appeals, privileged access to the future of Britain’s licensing laws, very privileged access to the Prime Minister of Italy, and such of his credibility as remained. Cheer up David, the only way from here is up.

Asked about the incident, Ms Jowells said she vaguely remembered being married once, but couldn’t be sure.

Mills actually lost a lot more dosh than RBS, but the former Freddie Badloss fiefdom still blew $1.3m of taxpayers’ money. Another spectacular bomb-out was the snooty French banking firm Lazard freres, which mislaid $5.1m.

Gerald Metals SA of Switzerland – a huge raw materials trader with offices throughout the US – came in at No 2 cock-up, losing a whopping $13.2 m.

But the outright winner by many miles was China’s government-owned oil dealer Unipec, which took a punt for $29.6m, and lost the lot.

38 thoughts on “Tessa Jowell’s husband David Mills lost $3.65m with MF Global

  1. Not nice for Mr Mills, but I did read yesterday investors should be getting back approximately 90% of their money back once the resolution has finally been gone through, so not as bad as it might have been!


  2. That’s the investorswith accounts with MF global in the US. Those with accounts at the UK sub are stuffed because clients funds were never properly segregated and they rank parri passu with all the other claims against the compamy. It is another example of how City regul;ation has become totally out of whack and is destroying what reputation it has left.


  3. Will he be obliged to sell his complimentary tickets for the [? opening and closing ceremonies of the] Olympic games in order to be able to afford a TfL Travel Card?

    How much of the lost dosh really belonged to Tessa?

    Was T Bliar’s name on the list of big-time losers? (The MF Global list, that is…..)


  4. I know a bit about him Joanna – none of it nice.

    I remember a TV programme concerning his relationship with Berlusconi – the programme included a bit about a shipment of blood which went missing after being left in a lorry for a long period of time – where it went, and to what use it was put, one can only have a horrified guess.

    If you think all Labour party members are not capable of behaving despicably you are deluded.


  5. You know something, am sick to death of you so called intelligent people, spouting your totally incompresenable language and yes the spelling mistakes are deliberate, take a hour to work them out, or have a conference, debate, oh and get the builders in, think your going to need them ie when you have to sell your mansions….


  6. I had to read the headline several times over before I could read the story such was the laughter it induced!

    Joanna doesn’t know anything about Mr Mills?

    Well, Joanna, you need to aquaint yourself a little more with how the sexual partners of the power elites often seem to benefit unfairly from information about government policy that they have oh-so mysteriously divined before everyone else.

    Wasn’t hedge fund moneybags Jon (John) Paulson ripped off by a Chinese share scam where he thought he owned a whole load of forestry in China and it turned out worthless? That was an expensive takeaway.

    Now a Chinese firm has similar done to them! No matter. If it’s state-owned, which I’m guessing it is, the oil firm will just magic the $29 million out of thin air.

    The day you see a set of truthful accounts from Beijing’s state bankers is the day you meet an honest hedge fund manager.

    No honour among thieves, eh?


  7. [OT]: Nice piece on ZH today. “Humanity Rising”:

    “…the population is waking in drove to the truth, and the truth is that we have a utterly corrupt, sociopathic minority running the nation like a giant criminal syndicate for their own power and money. Therein lies their weakness however. They have no philosophy. These guys are actually so twisted that all they think about is how can they keep growing their money and power. Furthermore, they are operating under an exposed playbook of control. Just take a look at Obama’s approval ratings. They are plunging. They are plunging despite fabricated economic numbers and biblical stock market rigging to make things look good. They are plunging because people are waking up and seeing all of this for what it is. A gigantic scam. All the signs I see point to increasing desperation on their part and exponential awakening on the part of the meat of the bell curve. These guys are toast and what we should now be focusing most of our attention on is what kind of society we want when this one collapses. Hopefully the other side of the bell curve can influence the debate for the first times in five thousand years. That is my hope and my vision of the future.”


  8. Saw that, great stuff, I do honestly think that the great scam is starting to wobble.

    How did that troll know about my many mansions ?


  9. Kind of takes a bit of the glow off lives lived working, raising families, saving, investing wisely, being prudent and so on when you see how it’s really done, eh? But that is to succumb not only to envy but their ‘game’ and here today/gone tomorrow moral vacuity. Or is ‘philosophy’ more apt?


  10. I can’t tell who is worse any longer. Lost count. I live here in the US where it is patently legal for members of the US congress to be given insider trading tips right before God and everybody — as long as the doors are closed. And the room swept for ..


  11. I don’t think he has or did I miss summat? From the DT article:

    David Mills, who was arrested by Thames Valley Police as part of an investigation into fraud at BoS’s Reading branch 18 months ago, has emerged as the biggest individual UK creditor to the failed broker. According to documents released by administrators KPMG, Mr Mills has a £3.65m claim over MF Global.

    The picture of him looks to be the same person (albeit older) featured in the Dail Mail article posted by @Cornish, which is definitely the husband of Tessa Jowell.


  12. This MILLS is related to the dreadfull MILLS who was implicated in a dodgy toys scandal in the 90’s.

    The dreadfull MILLS (brother of David) was the husband of the DPP, Barbara.
    The MILLS-JOWELL brigade had their noses in the trough of BLAIRS new labour brigade nad have enriched themselves through devious unprinicipled actions for over 20 years.


  13. The David Mills who lost money at MG Global is a banker arrested by the police in 2010 during an embezzlement investigation, not the David Mills accused of money laundering and tax fraud, and who is married to Irritable Jowell Syndrome.

    They do sound like they have lots in common, though.


  14. @BT. Nice one.
    Rudolf Steiner posited that there are three elements to society; economic, political and cultural. He said if they get out of balance, society suffers.
    Society as a whole is lacking in culture; schoolchildren are educated according to dogma and tick boxes rather than roundedness as a person (many are almost illiterate as a result), sincerely held spritual beliefs are held up to ridicule, on TV reality shows and f-word comedians take prime time precedence over anything uplifting, the concept of family is in shreds. Can anyone argue that our cultural life has not become a desert?
    And those in power like it that way; with “culture” in shreds (by which I mean the fabric and ground of human relationships and a sense of one-ness) we become enslaved either politically (communism) or economically (look around you). It is time for people everywhere to wake up and it is very heartening to see a savvy blogger like zerohedge saying so.


  15. Damn, the Police must have got the wrong Mills.

    What a pity it was a great Story but of course being a slippery well connected member of the political elite the Labour Mr Mills would have been tipped off and got his money out long ago leaving the “Muppet’s” to take the hit on the losses.


  16. “Politics is like a bowl of washing up water…if you don’t keep stirring it up, all the scum floats to the surface”. :-)


  17. Despite living in the UK for 20 years, I don’t know who this guy is and have only a passing familiarity with his wife, but I cannot for the life of me understand mocking people who lost money in MF Global. This wasn’t some scheme to which only privileged people had access; this was a truly awful, almost certainly criminal, set-up where the people who lost money were totally innocent. Most of the people were farmers hedging crops and things like that. Go after the people who invested in CDO-squared or something of that sort, but not investors in MF Global who should have been able to rely on the segregation of customer accounts. And if this is simply a case of hating anyone whith that much money, can someone please tell me where the cut-off is. Do we mock people over $1 million? $500k? What’s the number, above which it’s funny?


  18. I take my measures pertaining to awakened people by evaluating the people around me. Its just not happening around my way unfortunately. They are all stuck in the fabricated reality of yesteryear!


  19. MF global is a shocking story.

    The rich have always screwed the poor. i don’t like it, but it’s normal. However, the very, very rich screwing the highly wealthy? And getting away with it?

    Thats NOT normal Thats fall of the Roman Empire stuff.


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