Entrepreneur forged documents in attempt to seize control of Yodel

A British parcel entrepreneur likely forged documents as part of a failed attempt to seize control of delivery giant Yodel, a judge has ruled.In a damning High Court verdict, Mr Justice Fancourt ruled that Jacob Corlett had conspired with his mother to falsify share warrants in the business.He highlighted “suspicious” signatures on the documents, which had been called into question by a handwriting expert.The decision was handed down after a prolonged legal battle over Yodel’s future. Mr Corlett had attempted to torpedo an attempted takeover of the British business by Polish courier InPost.The ruling represents just one part of a broader legal battle. Mr Corlett has also been accused of syphoning off millions of pounds from Yodel during a brief period of ownership last year. He denies the claims.In a ruling published on Friday, the judge said: “The conclusion to be drawn from this evidence is reinforced by the evidence of the handwriting expert witnesses, which was to the effect that the signatures on the documents in dispute were suspicious, showed many signs of forgery and probably were forged.”The judge added that Mr Corlett and Tamara Gregory, his mother, had “lied to the court” about the production of the contested share warrants.“I can state that I found Mr Corlett to be a most unsatisfactory witness,” the judge wrote.InPost hailed Friday’s decision as a landmark result for Yodel, given the High Court litigation had previously cast doubts over the company’s ability to stay afloat.The Polish company announced a £106m deal for Yodel earlier this year, although Mr Corlett has repeatedly argued that he remains the rightful owner.In particular, he claimed that before selling his stake in Yodel, he was issued so-called “warrant instruments” granting him the right to purchase more than 60pc of the company’s shares. This court battle concerned Mr Corlett’s attempt to enforce these warrants to regain control.However, the High Court sided with Yodel by ruling that the warrants were forged, rendering them useless.Michael Rouse, the chief executive of InPost International, said: “This is an extraordinary judgment that demonstrates the lengths Corlett was prepared to go in order to extract money from Yodel.“This judgment is a total vindication of our position and protects the integrity of our share capital.“It ensures that our current shareholders, partners and the thousands of people who work for Yodel can continue to focus on delivering for our customers without the distraction of these meritless and dishonest claims.”He said InPost was now considering further legal action following the finding of forgery against Mr Corlett.Yodel was previously owned by the Barclay family and employs around 10,000 people.The company’s troubles first emerged in 2024, when it was put on the block as part of a fire sale across the Barclays’ empire, which also resulted in the family losing control of The Telegraph.To avoid insolvency, the Barclay family sold the company for £1 to Mr Corlett, a little-known 31-year-old parcel entrepreneur hailed as a white knight for saving the Liverpool-based business.Mr Corlett’s stated intention at the time was to merge Yodel with Shift Group, the start-up he founded in 2017.However, the deal quickly turned sour after Mr Corlett was accused of “asset stripping and misappropriation” of Yodel’s money, “either to support the ailing Shift Group or for his direct personal benefit”.The alleged misappropriation includes £1.5m paid to Mr Corlett’s company Shift Trading “for no proper and legitimate purpose” as well as a further £2.7m under the cover of “spurious invoices”.Court documents also alleged that Mr Corlett funnelled money offshore by diverting funds from Yodel to GCL, an Isle of Man-registered company whose sole shareholder is his mother.In his defence, Mr Corlett, who grew up in the Isle of Man, has denied any involvement in or knowledge of the payments from Yodel to Shift and GCL.These allegations are set to be heard in a separate trial, expected to take place next year.Mr Corlett was contacted for comment.