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Investigative Accountants Find Missing £40m – 3 December 2013

Member: Nifa

An investigative team working on behalf of the ex-wife of former ‘fixer’ Scott Young have found sufficient evidence of a fortune of £45m that a judge was able to award Michelle Young £20m in a ruling that is a culmination of a bitter legal battle over Mr Young’s fortune.  However, Mrs Young is said to be furious, as she is convinced that her husband is worth “a few billion” pounds and believes that he has hidden the balance so that he does not have to give her what she calls a decent pay out.

Given that Mr Young has already served six months in prison for contempt of court after refusing to reveal his assets and that he was declared bankrupt in 2010, the investigative team has performed miracles to find the £45m.  Mr Young did everything within his power to avoid paying his wife anything, constructing a complex and highly secret network of offshore companies to hide his assets but he was not able to fool his ex-wife’s team of investigative accountants.  

Unfortunately, in other matters, such as when wealthy friends loaned him money to buy property, for example, it was impossible to prove that the transactions were in any way illegal.  However, earlier this month a forensic accountant told the court that Mr Young wrote a £6m cheque to a creditor just before he claims to have lost all his money and this and other evidence like it convinced the judge that there is at least £45m in the pot.

The forensic accountants Mrs Young engaged must be delighted with the ruling, despite their client saying that it is too little, as the lengths that Mr Young has gone to conceal the extent of his fortune have been extreme, to say the least.

Author: Roger Isaacs – 3 December 2013

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