The latest twist in a bitter divorce battle will see a property tycoon’s wife give HM Revenue and Customs (HMRC) encrypted computer files concerning her estranged husband’s business dealings.
Scot Young gave his old laptop to his children, to help them to study for their exams, thinking that he had deleted all the old files. However, with the help of computer experts, his wife Michelle managed to recover a large amount of material from it.
Mr Young’s assets were at one time valued at £400 million, but he now claims he has no money after making a series of poor business decisions relating to residential property and investment in films.
Mr Young has already been given a six-month suspended prison sentence for failing to provide the court with details of his financial circumstances. Even though he was last year ordered by Mrs Justice Black to pay £27,500 per month in maintenance, Mr Young has yet to pay his former wife anything.
Regarding the impending disclosure to HMRC, Mr Young has told reporters that he has nothing to hide, but a previous HMRC investigation resulted in him petitioning for his own bankruptcy and owing the taxman £2 million. Meanwhile, Michelle Young is relying on friends of the former couple to maintain her lifestyle and to assist her with rent and legal fees.
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