Former head of finance admits stealing £500,000 from sustainable fashion consultancy; case sent to Crown Court
Stavros Pavlou pleaded guilty to fraud by abuse of position after prosecutors say he drained half a million pounds from Eco‑Age, the firm owned by Livia Giuggioli that announced closure last year.
A former head of finance pleaded guilty on Friday to stealing about £500,000 from Eco‑Age Limited, the sustainable fashion consultancy owned by Livia Giuggioli, a move prosecutors say contributed to the firm's financial collapse.
Stavros Pavlou, 64, admitted one count of fraud by abuse of position at Highbury Corner Magistrates' Court. Prosecutor Edward Aydin told the court that Pavlou, while working as head of finance, "stole around £500,000 from his employer. The fraud involved large amounts of documents and files." Magistrate Rod Barr said the case was too serious to be sentenced at the magistrates' court and ordered it to be sent to Wood Green Crown Court for sentencing. Pavlou, of Barnet, was granted unconditional bail and will be sentenced on a date to be fixed.
Court papers and statements lodged at the magistrates' hearing set out that the alleged misappropriation occurred between June 2022 and April 2024. Pavlou was arrested in May 2024 and admitted the fraud during a police interview, according to the prosecution. His defence counsel, Paul Oliver, told the court the matter should be sent to the Crown Court for sentence, that Pavlou had been released under investigation in 2024, and that there had been no attempts by him to contact his former employer. "He is a man of previous good character," Oliver said.
Eco‑Age, founded in 2007 as a family shop in west London, developed into a consultancy advising fashion brands and creatives on improving sustainability across the industry. The company also founded the Green Carpet Fashion Awards and worked with high‑profile names in fashion and entertainment. In July 2024, Giuggioli announced the firm would close, describing a "devastating financial crisis" and saying the business had been "targeted by criminals." The alleged theft has since been identified by prosecutors as a factor in the consultancy's collapse.
Giuggioli, 56, has been a high‑profile figure in sustainability initiatives and previously acknowledged the public attention her work received. She is the former wife of actor Colin Firth; the pair divorced in 2019. Eco‑Age's closure marked the end of a 17‑year run in which it positioned itself as a bridge between fashion and environmental advocacy.
Pavlou remains on unconditional bail and is due to appear at Wood Green Crown Court for sentencing. The transfer of the case to Crown Court means judges there will set a date and consider a custodial sentence or other penalties in line with sentencing guidelines for fraud by abuse of position. The case underscores risks posed to smaller consultancies and specialist firms by internal financial misconduct and the potential business consequences when senior finance staff abuse their roles.