Doug Richard, former Dragons Den star and economic advisor to David Cameron and George Osborne, has been charged with a series of child sex abuse offences.
Richard who has had a long association with the Prime Minister, was arrested earlier this year and is accused of three counts of sexual activity with a child and one count of causing or inciting a child to engage in sexual activity.
The American born technology entrepreneur is due to appear before the City of London Magistrates’ Court on Monday, October 5.
The Express reports: Caroline Hughes, Crown Prosecution Service London reviewing lawyer, said: “We have carefully considered the evidence gathered by City of London Police in relation to Douglas Richard, 57, who was arrested on 5 January this year.
“Having completed our review, we have concluded that there is sufficient evidence and it is in the public interest for Douglas Richard to be charged with three counts of sexual activity with a child and one count of causing or inciting a child to engage in sexual activity.
“Richard is now charged with criminal offences and has the right to a fair trial. It is extremely important that there should be no reporting, commentary or sharing of information online which could in any way prejudice these proceedings.”
A City of London Police spokesman added:”Richard has been bailed to appear at City of London Magistrates Court on the 5 October.”
Richard’s relationship with Mr Cameron dates back to at least 2007 when the then Opposition leader invited the technology entrepreneur to pen a report into the state of small businesses.
The entrepener and his review were mentioned in the 2012 Budget when the Chancellor expressed his unreserved support for the Review.
And in 2011 Richard, who lives in Cambridge, joined Mr Cameron on a two-day trip to South Africa and Nigeria.
Richard made his millions in the 1990s by buying and selling software firms in his native California, before moving to the UK in 2001.
He was one of the original Dragons, but left the show in 2005 after failing to make any investments during the second series.
In 2006 Richard received a Queen’s Award for Enterprise for his work promoting, developing and helping entrepreneurs.