News article published on: 20th June 2013
A property tycoon who made his fortune as a fixer for British businesses and Russian Oligarchs who was once estimated to be worth £400 million has been accused by his ex-wife of hiding assets in an effort to get out of paying a £30,000 a month maintenance order that was made as part of their divorce settlement in 2006.
Scott Young has been ordered to disclose his true assets and produce tax returns and fill in detailed questionnaires on his finances or face jail. Mr Scott claims that he is not wealthy enough to honour the settlement agreement following the collapse of a Moscow property deal.
Mr Scott and his ex-wife Michelle once owned multiple homes, cars and a yacht in Monaco. The couple also travelled the world by private jet.
At a previous session, a judge accused Mr Young of repeatedly failing to produce evidence of his true finances and it has been reported that since then his ex-wife has hired private detectives to follow his every move.
This week Ms Young’s legal team were successful in overturning a previous ruling, arguing that the case had come to an effective standstill due to a (I) lack of money, (II) the illness of a judge and (III) her husband’s health problems.
A trial, expected to last for one month is scheduled to begin in October 2013. In the meantime Mr Young’s passport was confiscated at a previous hearing and he has been told he will not get it back until after the hearing taking place this month (January 2013).
As divorce lawyers we have worked on a number of cases where there has been an accusation by one party that the other is guilty of hiding wealth. In some cases it may be necessary to employ the services of a forensic accountant to help in uncovering the truth.
How Osbornes can help?
If you are seeking a divorce contact us for more information on how we can help with regards to all financial matters including spousal maintenance and lump sum payments; other assets including property and pensions and of course in relation to any children involved. If an agreement has already been made by the court which you wish to dispute we can also assist you with this.
You can see our divorce law and finances on divorce pages for further information.
If you wish to avoid the lengthy divorce process through the court you may consider choosing mediation as an option to finalise your divorce. Four of our partners, Mark Freedman, Bridget Thompson and Lisa Peppercan all take you through the mediation process.
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