THE businessman banned from the roads after driving 55 miles per hour near a school told a national newspaper he spends £300 a month on his dog.

Mitchell Stuart, managing director of social media company Inferno Media, was caught driving his brand new £70,000 Porsche at almost double the speed limit in Lilliput Road shortly before 3pm on Tuesday, June 5.

He told magistrates in Poole on Monday he would be "screwed" without his car, while his barrister Archangelo Power said he could be facing bankruptcy as his business is £50,000 in arrears.

However, in April, Stuart, 21, told the Guardian Inferno Media is a 'multi-million pound business' and he earns a five-figure sum each month.

He said he takes two weeks off each month to travel the world, enjoying skiing and trips to Paris and Milan. In addition, Stuart told the journalist he prefers to travel by private jet and considers the expense 'cost neutral' as he often meets other CEOs and business leaders aboard.

"I reckon I’ve drummed up around £250,000 of work for my business over the last few months, just by taking private jets," he said.

"I’ll usually stay in a hotel that costs £200 to £800 a night or in the summer I’ll charter a boat for £1,000 to £2,000 a day.

"I want to experience the best things in life. The service you get when you pay that kind of money is immaculate and the food you eat is delicious."

Stuart also spends around £300 a month on his dog, English springer spaniel Charlie, who eats cooked steak on walks to the defendant's local pub.

"I’ve got a six-figure sum invested in cryptocurrencies, and it’s not uncommon for me to make around £1,000 overnight," he said in the interview.

"I have two buy-to-let properties I own which pay my mortgage, and I’m about to take on a third one.

"And I do guaranteed rentals; I rent, say, a three-bed home and pay £1,500 a month to the landlord guaranteed for five years, then I make it an HMO (house of multiple occupation) doing things like changing the lounge into a bedroom and earning more than the £1,500 rent.

"Recently, I bought a £12,000 jet ski. I also bought a £70,000 Porsche."

Stuart was banned from driving for 30 days and ordered to pay an £816 fines, an £81 surcharge and £85 costs during the hearing.

In 2015, at the age of just 18, he was recognised with the Entrepreneur Star award at the Rock Star Awards.

Stuart went to Millfield School in Somerset but left after his GCSEs. His business has previously secured clients such as FJB Hotels, Aruba, Westbeach and Rock Recruitment.