A businessman accused of hiding millions of pounds from his wife in their bitter divorce battle told the High Court today: “I have got nothing to hide.”
Scot Young, 51, is accused by his estranged wife Michelle, 49, of hiding his property empire in a bid to deny her a massive cash settlement.
Mr Young was said to be worth £400 million in 2006 but now claims to be penniless and heavily indebted.
His estranged wife has demanded £300 million, plus legal expenses, maintaining her husband is worth “a few billion at least”.
Giving evidence today, Mr Young conceded he was “slightly unorthodox” in the way he conducted his business and was reluctant to keep up to date with emails and paperwork. He said: “I arrange the deals then I hand them over to highly paid professional like yourselves [lawyers] to do the business. I have got nothing to hide.”
Mr Young told Mr Justice Moor that he now did not have enough money to pay the rent on his apartment and had to rely on a friend.
Mrs Young says she is a victim of “fraud” because Mr Young has manipulated his affairs so as to do her down and claims “there was a vast fortune hidden”.
The hearing continues.
