Lawyers acting on behalf of tech entrepreneur Scott Fletcher  have issued a statement after his successful court action against social media personality and podcast host Matt Haycox.

Earlier this week BusinessCloud revealed how the two Dubai-based  entrepreneurs were embroiled in an increasingly acrimonious court case about a multi-million pound investment deal that went bad.

A court has ruled in favour of Fletcher, founder of Manchester-based ANS Group and chairman of Godel Technologies, after he accused Haycox of ‘commercial fraud’.

Haycox admitted he was a liar but denied being a fraudster.

Fletcher’s lawyers Edmond Marshall McMahon said in a statement: “Mr Haycox’s attempts to explain away his fraudulent misrepresentations as mere ‘white lies’ and ‘strategic misstatements’ were rejected by His Honour Judge Pearce, sitting as a Judge of the High Court, noting that ‘a lie is no less a lie if a person was angry when told the truth’.

“Judge Pearce concluded that Mr Haycox had no real prospect of success of defending the claims against him and nor was there any other reason why a summary judgment for deceit and fraudulent misrepresentation should not be granted.”

Haycox previously told BusinessCloud it was ‘a genuine loan transaction’ but said the loan did not complete.