Friday, 18 January 2013

Wife Vows To Continue Fighting Husband Over £400million Divorce Fortune


The estranged wife of property tycoon Scot Young yesterday vowed to continue pursuing him for money in their bitter divorce battle, after he was jailed in the High Court for failing to reveal the whereabouts of his “lost” £400 million fortune.
Michelle Young broke off from talks with her lawyers and forensic accountants to warn: “This is just the beginning” — 24 hours after Mr Young was given six months for “flagrant and deliberate” contempt of court.

She claimed her team is preparing to mount private prosecutions against London’s powerful financial elite for allegedly helping Mr Young to hide his assets.
She said: “We are going to bring in private prosecutions on the criminal conspiracy for all the people involved. It is a big list.”
Mr Young, 51, counts Russian oligarchs and some of Britain’s most influential business leaders among his friends.
Worth £400 million in 2006 when he and his wife separated after 11 years of marriage, he now insists he is penniless following a disastrous Moscow property deal. He claims to be living off handouts from friends and relying on support from his girlfriend Noelle Reno, a model.
Mrs Young, 48, insists he has up to £2 billion hidden in offshore companies. “We can prove that forensically now,” she claimed. “It is big business behind this. It is not just a divorce. It involves offshore companies registered in tax havens. This money should be going into the economy.”

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