British gold bullion millionaire killed in Spanish motorcycle crash
Paul Gerard Tustain, 62, veered onto the wrong side of the road and collided head-on with a van near Pamplona while en route to Logrono. He died at the scene.
His daughter, who was travelling on another motorbike behind him, was understood to be accompanying him on a tour of Spain.
Mr Tustain, who was born in Hartford, Cambridgeshire, was the founder and chairman of BullionVault, an online bullion investment service.
Before his gold venture, he founded Sam Systems, which specialised in mid- and back-office functions for the banking and stockbroking sectors.
The BMW rented motorbike he was on collided with a van on Thursday around 1.30pm local time on the NA-1110 road running beside the A-12 motorway, in a municipality called Iguzquiza, a 35-minute drive from Pamplona.
A spokesman for the police force for Navarra, the region where the accident happened, said: 'The dead man's daughter saw he had strayed onto the wrong side of the road and tried to alert him with hand signals but it was too late.
'He smashed head-on into a van that couldn't do anything to avoid the collision.
'A post-mortem will show whether he might have suffered a health problem that could have caused him to go onto the wrong side of the road.
'Otherwise, it's likely to have been a fatal distraction.'
Emergency services received a call around 1.40pm on Thursday. They sent ambulances and a helicopter to the scene, as well as police and firefighters, but there was nothing they could do to save Mr Tustain's life.
Pictures from the crash scene showed the white van with its front end crumpled.
A spokesman for local firefighters said: 'We were called about a head-on collision between a motorbike and a van on the NA-1110.
'The man on the motorbike died and the occupants of the van were unharmed.'
A police investigation into the accident is under way.
Mr Tustain moved into gold bullion after seeing Gordon Brown selling Britain's gold reserves in 2001.
He was quoted in The Times in 2016 as saying: 'The fool was selling gold every two weeks, they were selling so much that they destroyed the price.
'I eventually bought three of the gold bars; the big chunky ones that James Bond tosses around. It was probably the best purchase I ever made.'
He invested £275,000 rustled up from 30 family members and angel investors to establish BullionVault, a peer-to-peer site that allowed investors to buy small stakes in gold bars.
A decade later, it looked after gold worth than £1.3 billion – equivalent to about 11 per cent of the Treasury's reserves, with a pre-tax profit of nearly £4 million.
A BullionVault employee said: 'We are in shock at Paul's very sudden death. We will be releasing a statement in due course but at the moment we are still grieving. Our thoughts are very much with Paul's family.'
Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
2 hours ago
- New York Post
Memoir from Oct. 7 hostage Eli Sharabi will reveal shocking abuse — and unimaginable news he learned after his release
The harrowing memoir of Eli Sharabi, who endured 491 days in Hamas captivity, will be released in English on October 7 — the second anniversary of the terror group's brutal 2023 attack on Israel. 'Hostage,' first published in Hebrew earlier this year, has become the fastest-selling book in Israeli history, offering a powerful firsthand account of Sharabi's kidnapping from Kibbutz Be'eri and the discovery that his wife and children had been killed. He endured starvation, isolation, beatings and psychological abuse at the hands of his captors. The Post can exclusively reveal the cover of the book, published by Harper Influence, an imprint of HarperCollins. Advertisement Until his release in February, Sharabi was fueled by the desire to be reunited with his British-born wife, Lianne, and daughters, Noiya, 16, and Yahel, 13 — only to discover they had been killed by Hamas terrorists, and that his brother Yossi died in captivity. 7 Sharabi was held hostage by Hamas for almost 500 days. AP 7 Sharabi's captors shot his dog and killed his wife, Lianne (right), and teenage daughters Yahel (second from left) and Noiya. Instagram / @eli_is_home_bring_yossi_back Advertisement 'When I came back and hear that they were murdered five minutes after I was kidnapped, I can't understand the situation and I demand answers,' he told N12 in June. 'I want to see them, I want to hug them, I want to draw strength from them, I want to show them that I'm okay, that I'm no longer a poster.' 7 The publisher said the cover photo 'reveals the eyes of a man who has seen the darkest depths of hell, but refuses to give up.' Sharabi has said his time in Gaza was spent enduring Hamas' cruelty while 164 feet underground, his body wrapped in 'chains so tight, they ripped my skin,' alongside fellow hostages Alon Ohel and Or Levy. Advertisement He was emaciated and weighed a mere 97 pounds at the time of his release. Speaking before the UN Security Council in New York in March, Sharabi told world leaders that Hamas has ransacked the aid meant for hostages and Gaza's civilian population, enjoying the spoils while everyone around them suffers. 7 Sharabi was taken from his home at Kibbutz Be'eri, much of which was destroyed in the attacks. Getty Images 'Hamas eats like kings, while hostages starve,' said Sharabi, whose appearance shocked the world when he was released back in February. Advertisement Sharabi said Hamas would only give him 'a piece of pita' bread to eat, along with 'a sip of tea.' As he endured brutal beatings and relentless mockery from the terrorists, Sharabi said his will was nearly broken when Hamas terrorists laughed just before his release as they broke the news that his brother, Yossi, had been killed in captivity. 7 In front of the UN Security Council, Sharabi described being chained, beaten and starved by his captors. Getty Images 'It was like they brought a massive hammer down on me,' Sharabi told the UN. He was ultimately released as part of the first phase of a cease-fire deal that saw 29 other hostages and the bodies of eight Israelis returned to the country. 'I wrote the book to reach people, to give back, to show that no matter how difficult it is, you can always choose, no matter what cards life deals you, it is in your hands, always, in every moment, the choice to die, and the choice to live,' he previously said, according to the Jerusalem Post. 7 Sharabi (center, with his brother Sharon and a sister) was released in February along with two other hostages. He weighed less than 100 pounds. Israel Gpo/UPI/Shutterstock Advertisement 7 US President Trump compared Sharabi (second from left) and other former hostages to 'Holocaust survivors' after the trio was freed. Instagram / @ Harper Influencer publisher and SVP Lisa Sharkey said the picture on the front cover of the English version 'reveals the eyes of a man who has seen the darkest depths of hell, but refuses to give up. 'They say a picture is worth a thousand words. This photo of Eli Sharabi, moments before his release, looking frail, gaunt, starved, and deeply afraid, this picture shows the 491 days of heartbreak he spent in captivity, after being kidnapped by the Hamas terrorists who murdered his family on October 7,' she said.
Yahoo
3 hours ago
- Yahoo
Actor son of murder-suicide victim issues stepdad funeral plea
An actor whose mother was the victim of a murder-suicide in France has urged her friends not to attend his stepdad's funeral. Callum Kerr, who appeared in Hollyoaks and Netflix's Virgin River, said it would be "inappropriate" for the memory of his mother, Dawn Searle, to be associated with her husband Andrew Searle. The couple's bodies were discovered by a neighbour at their country home in the Aveyron region on 6 February. The prosecutor in charge of the case previously told the BBC it was murder followed by suicide and there was no evidence that another person was involved. The statement, issued on Kerr's Instagram account on behalf of the actor and his sister Amanda, comes more than six months after the couple were found dead. It is unclear why it has taken so long for Mr Searle's body to be released by the French authorities or when his funeral is scheduled to take place. Deaths of British couple in France treated as murder-suicide Actor's grief after mum and husband die in France French prosecutors confirm how British couple died Mr Kerr, who is also a country singer in the US, and his sister said that while the investigation into the deaths was ongoing they "cannot ignore the circumstances as they stand". The statement continued: "For this reason, we must respectfully but firmly request that our mother not be included in any way in the funeral arrangements being made for Andrew." They urged friends of their mother's not to attend the ceremony and asked people not to share photographs of Mr and Mrs Searle together. The statement concluded: "It would be inappropriate for her memory to be associated with a service honouring the man who, based on all available evidence, may have been responsible for her death. "We ask for understanding, privacy and respect as we continue to grieve and seek justice for our mum." Mrs Searle's body was found in the garden of the couple's property in the hamlet of Les Pesquiès, with severe wounds to her head. Mr Searle's body was found inside their home, about an hour north of Toulouse. Police were alerted to the incident by a neighbour who had gone to check on them when they failed to turn up for a planned dog walk. Post-mortem examinations confirmed Mrs Searle suffered "multiple blows to the head with a blunt and sharp-edged object" while Mr Searle died from hanging. Mrs Searle, 56, grew up in Eyemouth in the Scottish Borders, and Mr Searle, 62, was originally from England. They previously lived in Musselburgh, near Edinburgh, and married in France in 2023. Prosecutors said they had lived in the Aveyron region for five years. According to his LinkedIn page, Mr Searle previously worked in financial crime prevention at companies including Standard Life and Barclays Bank.
Yahoo
3 hours ago
- Yahoo
Dollar Recovers as Stocks Falter
The dollar index (DXY00) on Tuesday rose by +0.12%. The dollar recovered from early losses on Tuesday and posted modest gains as weakness in stocks boosted liquidity demand for the dollar. The dollar also garnered some support Tuesday after S&P Global Ratings affirmed its AA+ long-term rating and A-1+ short-term rating on US debt and said the US can maintain its credit strength despite the fiscal hit of its recent spending bill because tariff revenues will "generally offset weaker fiscal outcomes." Lower T-note yields on Tuesday were bearish for the dollar. Also, signs of progress in peace talks over Ukraine are curbing safe-haven demand for the dollar. Losses in the dollar are limited due to concern that last week's stronger-than-expected July CPI and PPI reports could keep the Fed from cutting interest rates at next month's FOMC meeting. More News from Barchart Dollar Gains as Fed Rate Cut Chances Slip Dollar Supported by Higher T-Note Yields Signs of Peace Progress in Ukraine Boosts the Euro and Weighs on the Dollar Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Tuesday's US housing news was mixed for the dollar. US Jul housing starts unexpectedly rose +5.2% m/m to a 5-month high of 1.428 million, stronger than expectations of a decline to 1.297 million. However, Jul building permits, a proxy for future construction, fell -2.8% m/m to a 5-year low of 1.354 million, weaker than expectations of -0.5% m/m to 1.386 million. Ukrainian President Zelenskiy said late Monday that he came away with a commitment from President Trump to join security guarantees for any peace deal and reserve discussion on territorial swaps with Russia for later. President Trump is pushing for a summit between Presidents Putin and Zelenskiy in the near future, and European leaders are discussing a plan to send British and French troops to Ukraine as part of a peace agreement. The outcome could have macroeconomic implications regarding tariffs and oil prices, and could, of course, have significant consequences for European security. The markets continue to adjust to the inflation outlook following last Thursday's hawkish PPI report. Following the report, the markets erased any hopes of a -50 bp rate cut at the Fed's September meeting and pulled back expectations for a -25 bp rate cut to 84% area from 93% before the report. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 87% at the September 16-17 FOMC meeting and at 54% for a second -25 bp rate cut at the following meeting on October 28-29. EUR/USD (^EURUSD) Tuesday fell by -0.15%. The euro gave up an early advance and turned lower on Tuesday after the dollar rebounded from early losses and moved higher. The euro initially moved higher on Tuesday on signs of progress in peace talks over Ukraine. US and European officials said they will immediately work on providing Ukraine with robust security guarantees to open a path for a meeting between Presidents Putin and Zelenskiy. Swaps are pricing in a 7% chance of a -25 bp rate cut by the ECB at the September 11 policy meeting. USD/JPY (^USDJPY) Tuesday fell by -0.28%. Higher Japanese government bond yields on Tuesday strengthened the yen's interest rate differentials and boosted the yen after the 10-year JGB bond yield rose to a 3-week high of 1.604%. Also, lower T-note yields on Tuesday were supportive of the yen. Gains in the yen were limited by concern that US tariff policies would harm the Japanese economy. December gold (GCZ25) on Tuesday closed down -19.30 (-0.57%), and September silver (SIU25) closed down -0.697 (-1.83%). Precious metal prices tumbled to 2-week lows on Tuesday. Dollar strength on Tuesday undercut metals prices. Also, signs of progress in peace talks over Ukraine have curbed some safe-haven demand for precious metals. US and European officials said they will immediately work on providing Ukraine with robust security guarantees to open a path for a meeting between Presidents Putin and Zelenskiy. In addition, reduced chances for a Fed rate cut at next month's FOMC meeting are bearish for precious metals, following a bearish July PPI report last Thursday that knocked the chance of a Fed rate cut down to 84% from 93% before the report. Silver prices gave up an early advance Tuesday and turned lower on demand concerns for industrial metals after US Jul building permits, a proxy for future construction, fell more than expected to a 5-year low. Lower T-note yields on Tuesday were supportive of precious metals. Gold continues to have safe-haven support related to US tariffs and geopolitical risks, including the conflicts in Ukraine and the Middle East. Fund buying of precious metals continues to support prices after gold holdings in ETFs rose to a 2-year high last Friday, and silver holdings in ETFs reached a 3-year high Monday. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
