Supertout who snaps up hot tickets then flogs them at huge mark-ups on secondary websites has company worth £2.5MILLION

SUPERTOUT Andrew Newman’s ticket empire is worth £2.5million, latest accounts reveal.

Newman, 26, saw his assets rocket by almost £1million last year and holds a near seven-figure fortune in stocks.

The wrestling fanatic has enjoyed soaring profits by snapping up hot briefs then flogging them at huge mark-ups on secondary websites.

Companies House records also show his firm — based at an industrial estate in Linlithgow, West Lothian — recently changed its name from Newman Corporation to North Financial Group.

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Last night a source said: “Newman hates being in the public eye but it doesn’t seem to have affected his business.

“His overheads are small as he just rents an office for around half a dozen staff. But he’s turning over millions.”

Newman’s financial success comes as the ticket resale business faces two investigations.

The Competition and Markets Authority is probing whether some touts broke the law by failing to disclose their identity on secondary sites.

And HMRC is examining the industry’s tax affairs after MPs demanded an inquiry.

Last year the Culture, Media and Sport committee was told Newman, left, made his fortune under a “shroud of secrecy”.

But last night he said: “We do everything above board. We pay all VAT and taxes.”

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