Investigator says 'broke' ex-husband worth £700m

By Lenore Rice

A financial investigator has addressed the High Court in the divorce case involving property tycoon Scot Young and his ex-wife Michelle. The judge is currently trying to assess just how much wealth Mr Young currently has, with his wife claiming he is still worth 'a few billion', and Mr Young saying he his penniless.

Financial investigator Burke Files told the court that Mr Young was still worth at least £700million, and that he had found evidence suggesting a £2.8billion profit was made by Mr Young in Facebook. The investigator advised that Mr Young had 'restructured his empire' by moving his assets around after his separation, though added that it is normal practice to move financial assets in this manner.

Mr Young's current partner of 4 years, Noelle Reno, says they are living in a rented property paid for by one of his friends, and she has loaned Mr Young £25,000 so he can pay his bills and get his shopping in Tesco. The solicitor acting for Mrs Young accused Ms Reno of misleading the court which she denied, saying she was being "persecuted for helping someone".

The judge is being presented with two very extreme versions of the current wealth of Mr Young and the rest of the case will hinge on the evidence presented by both sides as to the wealth, or lack thereof, of Mr Young.

If you require legal advice in respect of a divorce, including a split of assets, the financial settlement, child custody and maintenance, or any other matter, contact one of the family law solicitors at Wilson Nesbitt in Belfast by calling 0800 840 1363.