Moment of madness by a tycoon who shot a burglar alarm

A multi-millionaire used a shotgun to silence a neighbors' burglar alarm next door to his £10 million St John's Wood home. Peter Shalson, 54, said to be worth £175 million after selling his coat hanger and packaging business, was speaking outside Southwark crown court where he was spared prison. He said: "This incident was a moment of irrationality. It happened during a period when I was under extreme business stress." Shalson was furious that the alarm was ringing incessantly while his neighbors Norman and Cindy Dawood were away. He said his wife Polly had been kept awake for hours. He took a shotgun from his collection and fired two shots at the alarm box on the wall. He then forced his way inside through their French doors and smashed the device. He sent his neighbors a text message stating: "All quiet now." When the damage was discovered he initially lied about using a shotgun but finally owned up. Shalson admitted having a shotgun with intent to commit criminal damage and damaging property. Judge John Price ruled that he did not deserve a prison sentence and ordered him to do 200 hours community service and pay £520 in court costs.