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Telegraph
16-05-2025
- Business
- Telegraph
British gold bullion millionaire killed in Spanish motorcycle crash
A British gold bullion millionaire has died in a motorcycle accident in Spain. 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. 'Best purchase I ever made' 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.'
Daily Mail
16-05-2025
- Daily Mail
British millionaire investor, 62, is killed in front of his horrified daughter when his motorbike 'strays onto the wrong side of the road' and slams into a van on Spanish road
A British millionaire investor was killed in front of his horrified daughter in a 'brutal' head-on crash in northern Spain. Paul Gerard Tustain, 62, died yesterday after his rented BMW motorbike strayed onto the wrong side of a road near Pamplona before slamming into a van. The London-based entrepreneur and his daughter, who was travelling on another motorbike behind him, are understood to have been touring the country. They were heading for the town of Logrono when the tragic collision occurred, according to local police. A spokesman for the Navarra Foral Police 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. The force of the impact was brutal.' The tragedy happened on a stretch of the NA-1110 road between Azketa and Iratxe at around 1.30pm local time in a municipality called Iguzquiza, a 35-minute drive from Pamplona. Emergency services were called at around 1.40pm yesterday. They sent ambulances and a medicalised helicopter to the scene as well as police and firefighters, but there was nothing they could do to save his life. Pictures from the crash scene showed the white van with its front smashed in by the side of the road next to the dead man's motorbike across the tarmac. A spokesman for local firefighters said: 'We were called yesterday afternoon 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 spokesman for a regional emergency services coordination centre said: 'A motorcyclist died Thursday afternoon after colliding with a van on the NA-1110 road, in the municipality of Iguzquiza. 'The emergency management centre received notice of the accident at 13:38 hours on Thursday and sent firefighters to the scene along with a medical team, an advanced life support medicalised ambulance, a basic life support ambulance, a medical helicopter and police traffic patrols. 'The accident occurred when the motorcyclist collided head-on with a van at kilometer point 42.4 of the NA-1110 road. 'The emergency services mobilized could do nothing to save the life of the motorcyclist, a 62 year old man, who died at the scene. 'His body was taken to the Navarra Institute of Legal Medicine for an autopsy. A police investigation into the accident is underway.' The accident happened four days after a British couple aged 78 and 58 died in a horror crash in Boca de Huergano in the province of Leon, around four hours west of yesterday's tragedy, after their Ferrari skidded off the road and plunged into a river. The pair, driving a UK-plated vehicle, were found by rescuers after they reached the black Ferrari 488's remains lying in the Yuso river. They were reportedly part of a large convoy of around 20 other Ferrari owners. The group had arrived in the city of Leon, the capital of the province, the day before the crash. Police said earlier this week an investigation into the cause was still underway. Paul was the founder and chairman of BullionVault, the world's largest online bullion investment service, and which organised bulk crowdfunding of in-barrel Scotch whisky maturation. Before venturing into the finance and investment sector Paul founded SAM Systems which specialised in mid and back office functions of the banking and stockbroking sectors. Paul told how he got 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 £4million. A BullionVault employee said today: '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.
The Sun
16-05-2025
- The Sun
Millionaire Brit gold trader dies in horror crash in front of daughter after motorbike slams head-on into van in Spain
A BRIT millionaire gold trader has died in front of his daughter in a horror head-on crash with a van during a motorbike holiday in Spain. Paul Gerard Tustain, 62, was killed on a road near the northern Spanish town of Pamplona when his bike strayed onto the wrong side of the road. 6 6 6 Tustain, originally from Cambridgeshire but who lived in London, was the founder and chairman of BullionVault - the world's largest online bullion investment service. He also ran which organised bulk crowdfunding of in-barrel Scotch whisky maturation. He was riding a rented BMW motorbike and smashed head-on with a van on Thursday afternoon. His daughter was riding on another motorbike behind him, and the pair are understood to have been doing a tour of Spain. They were heading for the town of Logrono when the tragedy happened. A spokesman for local police 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. The force of the impact was brutal.' Emergency services got the call around 1.40pm on Thursday. Tragic Ferrari Crash: British Couple Die in Spanish Rally Horror An air ambulance rushed to the scene along with ground medics, police and firefighters - but there was nothing they could do. The tragedy struck on a stretch of the NA-1110 road between Azketa and Iratxe. Pictures from the crash scene showed the white van with its front smashed, across the road from the motorbike. A spokesman for local firefighters said: 'We were called yesterday afternoon about a front-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.' 6 6 6 A another emergency-services spokesperson said: 'A motorcyclist died Thursday afternoon after colliding with a van on the NA-1110 road, in the municipality of Iguzquiza 'The emergency management centre received notice of the accident at 13:38 hours on Thursday and sent firefighters to the scene along with a medical team, an advanced life support medicalised ambulance, a basic life support ambulance, a medical helicopter and police traffic patrols. 'The accident occurred when the motorcyclist collided head-on with a van at kilometer point 42.4 of the NA-1110 road. 'The emergency services mobilized could do nothing to save the life of the motorcyclist, a 62 year old man, who died at the scene. 'His body was taken to the Navarra Institute of Legal Medicine for an autopsy. A police investigation into the accident is underway.' A BullionVault employee said today: '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.' Before venturing into the finance and investment sector Paul founded SAM Systems which specialised in mid and back office functions of the banking and stockbroking sectors. Tustain previously told how he got into 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 more than $1.3 billion - equivalent to about 11 per cent of the Treasury's reserves, with a pre-tax profit of nearly £4million.
