Jailed millionaire in DTI probe

HE was once a multi-millionaire with a string of fast cars and an heiress wife. He rubbed shoulders with pop stars, footballers and tycoons. But former restaurateur Tim Power, 36, now keeps less exalted company.

In a staggering fall from grace, Power was sentenced to two years' imprisonment at Leeds Crown Court in February for one count of theft and two of obtaining money transfers by deception.

Separately, according to documents seen by the Daily Mail, he is also under investigation for insider dealing in mussels and chips group Belgo. The case was sent to the Department of Trade and Industry for investigation in September last year. Possible charges may be brought under Section 52 of the Criminal Justice Act 1993.

Power was operations director of Belgo, now known as Signature Restaurants. In 1998 he masterminded the takeover of a string of top London restaurants, including The Ivy, a haunt of David and Victoria Beckham, and Daphne's, a favourite of the late Princess Diana.

He quit abruptly two years later. Belgo, chaired by multi-millionaire entrepreneur Luke Johnson, said that he had left to seek out a new challenge. After his departure from Belgo, he teamed up with pop star Goldie and footballer-turned-actor Vinnie Jones to create a trendy bar in Leeds. A former barman, Power at one point claimed to be worth £7m. He once described himself as 'a one man crusade against mediocrity' and boasted that he limited all his phone calls to a minute or less.

His ex-wife is heiress Chantal Brenninkmeyer, a member of the Dutch family that owns the C&A retail empire. The couple split in 1998.

Power was last year sentenced to 120 hours of community service after being convicted of failing to register a personalised number plate spelling 'P9WER' on his £70,000 silver Ferrari 355 convertible. The car was also seen by police carrying a tax disc belonging to another vehicle. Power claimed that he normally relied on chauffeurs to sort out matters such as road tax.

Shares in Signature Restaurants have plunged from a high of almost 240p in 1998 to 47p. Last week the company disclosed it had received an approach that may lead to a bid. City rumourmongers reckon that Luke Johnson wants to take the company private.

The DTI refused to comment.