City murder accused 'owed £2,000'

Mr Monckton was repeatedly stabbed at his home

One of the men accused of murdering a City banker in his own home has told the Old Bailey he agreed to rob the house to pay off a drug debt of £2,000.

Elliot White, 24, of west London, described how he held John Monckton, 49, in a bear hug as his alleged accomplice stabbed him last November.

Mr White claimed he did not know Damien Hanson, 24, had a weapon and restrained Mr Monckton only to protect himself.

Both deny Mr Monckton's murder and the attempted murder of his wife Homeyra.

Mr White has admitted robbery but Mr Hanson denies the charge.

I told him [Mr Monckton] 'stop struggling - we are only here to take your jewellery - no one will be hurt' Elliot White

Mr Monckton died after being repeatedly stabbed and Mrs Monckton suffered severe injuries.

Their two young children were in the house at the time of the murder.

Mr White told the court he had been told that there would only be a woman in the Monckton's house in Chelsea, west London.

He said the pair rang the buzzer and claimed they had a parcel for delivery.

But Mr Monckton answered the door and as the pair barged in to the house, he began to hit Mr White.

'Clean of drugs'

Mr White said he grabbed Mr Monckton.

He said: "The man was struggling. I told him `stop struggling. We are only here to take your jewellery. No one will be hurt'."

Mr White told the court that Mr Hanson approached Mrs Monckton and started attacking her before turning his attention on Mr Monckton.

"He appeared to be hitting Mr Monckton in the stomach area, the rib area. I was behind him. I did not see a weapon in his hand.

"Mr Monckton began to lose his weight - sag. He ended up on the floor. Hanson made his way to the front door," he said.

The court heard Mr White had left school with good exam results but got involved with drugs.

He had been jailed for possession with intent to supply but said he had been clean of drugs since February last year - despite owing money to drug dealers who he claims had threatened to injure him.

The case continues.