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Mar 312010
 

Michelle Young, Scot YoungMichelle Young is divorcing her estranged husband of 20 years, Scott Young. A group of men, informally called here as Team Michelle, has allegedly coughed up £1.2 million towards her divorce legal fees.

Michelle Young, Scot Young

Michelle Young daughters in 2002

For unknown reasons, Michelle Young has the support of rich men like Sir Philip Green, Sir Tom Hunter, Harold Tillman and Stephen Kay.

Team Scott Young has Richard Caring on his side and Caring has loaned him £50,000 for his divorce lawyer.

Russlan Fomichev, a Russian banker aide to Boris Berezoovsky, the billionaire, has allegedly delivered £10,000 to Michelle Young. He allegedly gave her money in a secretive delivery.

Berezosky is a friend of Mr and Mrs Young and he bought their Wentworth Park estate in Surrey for £20.5 million, in 2000.

Berezosky, Fomichev and Scott Young were once partners in a real estate deal called Project Moscow, but this failed.

Michelle Young claimed Fomichev gave her an envelope stuffed with £10,000, for her living expenses. She gave her testimony to claim that her husband, Scot, had hidden away £400 million in offshore accounts and in the names of other bank account holders. Ms Young is alleging that Fomichev acted upon her estranged husband’s orders and was holding money on behalf of Scott.

Scott Young was only known as a financial tycoon but when the divorce proceedings got underway, his secret stash of multi-billion dollar property portfolio was revealed. His estranged wife Michelle claimed she was unaware he owned a separate fortune in real estate. She had accused Scott of hiding away his money in off-shore accounts but she was nearer the truth than she could imagine. His wealth was allegedly hidden in property in their homeland.

Scott Young, in 2006, was estimated to be worth £400 million. He said he lost his fortune on bad business deals. He said he has been left deeply in debt. Young blamed his business deals and his over extended credit, claiming a debt of £28 million.

Scott Young’s real estate portfolio has either been repossessed, sold or transferred to his friends and acquaintances. Some of the selling prices were way below the market price. There was speculation that the seller’s price was low in lieu of debts owed to the buyer.

Scott Young is currently fighting the monthly maintenance awarded to his estranged wife. He insisted he was without means to pay £28000 per month to Michelle. He said he was a declared bankrupt, penniless, homeless and unemployed.

The judge in charge of the case deemed that Mr Young did not supply the disclosure of his assets so he would have to pay £600,000 for Michelle’s legal fees. Ms Young insisted that her soon-to-be ex husband just wants to avoid paying her money.

Mr Young has found a new girlfriend to comfort him in his sorrows. She is Noelle Reno, a former fiancée of Matthew Mellon, whose parents own a fortune in the banking industry. Matthew is their heir.

Michelle Young said she has not been paid any of the 20 million pounds awarded to her in her divorce settlement. She lives in a rented home and her daughters are still attending university. Scot Young lives with his girlfriend Noelle Reno.

Via DM.

Noelle Reno

Noelle Reno and Scot Young

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