Search

North Woolwich housekeeper stole artwork to clear debts

17:00 15 November 2012

A housekeeper swiped a £100,000 painting from an Italian financier in a bid to clear her debts and renovate her house, a court heard.

Cresentla Ragonton, 58, helped herself to ‘Study for Light’ by Ed Ruscha from the Belgravia home of Giuseppe Ciardi in central London.

She tried to sell the artwork at top auction house Bonhams, with an estimated price of £80,000 to £100,000, but police intercepted before the sale could take place.

Westminster Magistrates Court heard Ragonton needed cash to clear her debts and also had designs on a refit of her own home.

Prosecutor Guy Saul said when arrested she claimed to have debts of £15,000 and also said she wanted to renovate her house “because it was very cold.”

Ragonton worked as Mr Ciardi’s housekeeper at his home in Chester Square for six years, and would often look after his children, the court heard.

Mr Ciardi, 59, made his fortune as the founder of hedge fund Park Place Capital and bought the art work in New York in 2004 for $65,000.

His wife Alexandra was tragically killed in 2005 when she was hit by a speed boat while on holiday in Sardinia.

Ragonton admitted stealing the painting on August 6 this year.

District Judge Michael Fanning told her: “This was a significant breach of trust, you have stolen from your employer who clearly believe he could have left you in charge of his premises.

“You abused that trust, and had you got away with it he would have been significantly out of pocket.”

He said Ragonton would be given credit for the guilty plea when sahe is sentenced at Southwark Crown Court at a date to be set.

Ragonton’s barrister, Temi Johnson, said she had been in the UK for several years, and lived with her children who are in their 20s at her home in CShepp[ard Street, Canning Town.

She has no previous convictions, has never been arrested. “It appears this was a one-off incident,” she said.

Ms Johnson added there was “no actual loss”, because the painting was recovered before it could be auctioned off.

Ragonton was released on conditional bail. She had admitted one count of theft.

Latest News Stories

Storm Imogen is causing delays on the A13 this evening    (Picture: Andy Butterton/PA Images)

Storm Imogen’s high winds are causing chaos for commuters this evening.

Shoppers have been evacuated from the Stratford Centre (picture: @AriCicurel)

The Stratford Centre has reopened following a security alert.

Stratford Centre
13:30
Firefighers from four fire stations tackled the blaze in Plaistow on Saturday night

A woman was taken to hospital by paramedics after being rescued from a house fire in Plaistow on Saturday eveniing.

West Ham Park has been closed for safety reasons due to Storm Imogen

West Ham Park is currently closed after high winds caused tree branches to break off.

London

Most read news

HOT JOBS

Show Job Lists

Competitions

Sony Smart Ultra HD 55'' LED TV

Enjoy the ultimate entertainment experience in your living room with the Sony Smart Ultra 55’’ LED TV. Be the envy of all your friends with this huge TV- you can change your living room into your own cinema! Get the boys around to watch the football or get the girls around to watch the DVD of 50 Shades.. this is a prize that everyone would enjoy! Stand a chance to upgrade your current entertainment system by wining this fantastic prize.

Read more
Surface Pro 4

Technology is ever evolving. We are constantly being shown new technology that is innovative, revolutionary and designed to make life easier for us all. Gone are the days of dial up modems and computers so large you needed half a room to store it. We are in the age of smooth, small and sleek. Companies are all trying their best to create technology that is easy to transport and guaranteed to be user friendly.

Read more

Digital Edition

cover

Enjoy the
Newham Recorder
e-edition today

Subscribe