Applegarth the crook is adulterer as well - while he took his eye off the ball, somebody had their hands on his

Whilst Northern Wreck was recklessly overextending themselves, 45 year old Adam Applegarth now ex CEO, was busily relieving the tensions of business life by shagging glamorous, fun loving, party going, brunette, beautifully dressed (and evidently frequently undressed) Amanda Smithson from the Northern Rock's buy-to-let division.

Someone grassed the secret affair to the Board in anonymous letters, also sent to fast car enthusiast Mrs Applegarth - The claims were put to Mr Applegarth 4 weeks ago (which was reported publicly but without any details) in the presence of other directors which he initially denied.

The balding Lothario would visit Washington DC up to 6 times a year staying in the Four Seasons Hotel in Washington or New York which coincided with Ms Smithson's holidays. They particularly favoured the Potomac Suite overlooking the historic Chesapeake and Ohio Canal ( President John Quincy Adams tuned the first sod on July 4, 1828),and Rock Creek Park.

Ms Smithson's luxuriously appointed £200,000 flat in the Wills Building shares a fashionable address , and was funded with a Northern Rock mortgage. The Grade II listed building is handy for the raunchy Geordie nightlife and the company's head office in Gosforth - where they would often "work late " together.

"There were a number of reasons for suspecting they were having an affair," the source said. "She had quite a lowly job, but she was always wearing expensive clothes (and had a fondness Lord Patel can reveal for La Perla lingerie and Mr Karl Lagerfelds perfume with its curiously shaped and attractive bottles) and drove a 7 series BMW.

Widely known for her large mouth, and perfect orthodontics - "all the better to eat you with" she leads a very "active social life" in and around Newcastle...where she is (unsurprisingly) known as "Rndy Mandy"

Toni Fabuloso has had no hand in writing this post, and took the huff when it was suggested we could find the party going lass a position in our organisation.

UPDATE Sunday 7.40 EST

An Anonymous commentator to Guido Fawkes famous Blog on Friday, November 16, 2007 Gordon's Favourite Banker Resignsleft this tantalizing comment - no names no pack drill.



A man who cheats on his wife will not hesitate to cheat on his customers - in the US they call it moral turpitude - with good cause.