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A multi-millionaire property developer strangled his escort girlfriend during an attempt to "frighten" her into stopping her blackmailing him, he told a jury.
Peter Morgan, 54, killed Georgina Symonds, 25, at her bungalow in Llanmartin, Newport, after hearing of her plans to fleece him, leave him and work for other men.
The father of two paid Miss Symonds, a former burlesque dancer, up to £10,000 per month and allowed her to live rent-free at the £300,000 property he owned with his estranged wife, Newport Crown Court heard.
Morgan had previously told the jury that Miss Symonds had a series of intimate pictures of him, which she threatened to show his wife and daughters.
She had pictures of Morgan engaging in threesomes at his family home, Beech Hill Farm in Usk, Gwent, as well as images of her wearing his wife's dressing gown.
Morgan, who denies murder on the grounds of diminished responsibility, told the court Miss Symonds had blackmailed "a few" previous clients and said he wanted an assurance from her she would not do the same to him.
"My first option was to try and frighten her. I thought it might not work. I just thought she would be so frightened. I didn't know what else to do. I had to stop her from blackmailing me," he told jurors.
"If I just wanted to kill her I would have just gone down there when nobody knew I was there."
He added: "At the time I was going to frighten her. I didn't know how that was going to pan out. Ultimately I thought I might end up killing her, which I did. But ultimately I thought I might end up with a situation where she seemed okay but went to the police."
William Hughes QC, prosecuting, suggested to Morgan in cross-examination that he "executed" a plan to murder Miss Symonds "30 plus hours" after first conceiving it.
He suggested Morgan "took some time" to prepare the ligature and also collected other items together, such as polythene, an iron pole and twine that he used to hide Miss Symonds's body in a workshop at the family farm.
"You have tied knots in the ligature. It has been prepared to give you optimum control when you placed it around Georgina's neck," the prosecutor said.
The defendant replied: "Yes, it was to allow me to have my hands free."
Mr Hughes said: "Putting a ligature around her neck gave you all the control and her none of it."
Morgan rejected this and said: "She did have control. All she had to do was say she wasn't going to do it."
The prosecutor accused Morgan of attempting to "lull her into a false sense of security" when he went to Miss Symonds's bungalow on the morning of the alleged murder with a jewellery box and £400 cash.
Morgan denied this and told the jury: "It wasn't to lull her into a false sense of security. It was to get her to realise that I still cared for her and that I was still there for her."
Mr Hughes replied: "It would allow you the prime opportunity to kill her. Taking all the items that you had prepared was only for one aim.
"If you had gone there originally to frighten her, frightening her would be utilising that ligature. Utilising this ligature to frighten her could also have resulted in serious injury, that's something you appreciated."
Morgan replied: "At the time? I don't know what I was thinking."
The prosecutor said: "But in a moment you killed her. The ultimate aim was to kill her, nothing less."
The defendant denied this and said: "I knew what she was like but as long as she was having money off me what would be the point of blackmailing me?"
Morgan explained that when Miss Symonds's family and friends contacted him after she failed to collect her daughter from school, he said nothing about what had really happened.
"I knew from the moment the police were involved that I would be found out," he told jurors.
Morgan, who has since been diagnosed with Asperger syndrome, later confessed to police and directed them to the body.
The court has previously heard that he had planted, in November 2015, a listening device in the bungalow, which was operated by mobile phone.
He called the device - saved on his iPhone as Isobel - in the evening of January 10 and overheard Miss Symonds talking to her lover, Tom Ballinger, about "fleecing" him and moving to London.
Morgan had made dozens of calls to the Isobel number and while being questioned by Mr Hughes he admitted to having sent a text message to the listening device in an attempt to "cover my tracks", in which he thanks Isobel, as "those long chats have been a real help".
Mr Hughes said: "I suggest at that point in time you have resolved to kill Georgina. You knew that contact made with Georgina's numbers would be of interest to those investigating.
"You appreciated that any contact made by your phone could potentially be of interest."
Morgan also told the court that he had previously contemplated poisoning Miss Symonds with anti-freeze in order to get her into hospital for treatment for her drug and alcohol problems.
The trial was adjourned until Wednesday.