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Billionaire friends of a property tycoon who claims to have lost his £400 million fortune could cut off their financial aid after being drawn into his bitter divorce battle.
Topshop boss Sir Philip Green was revealed to have given more than £80,000 to his friend Scot Young's estranged wife, Michelle, so she can pay her rent.
Mrs Young, 45, has named Sir Philip, along with a number of other rich friends of her husband who are reported to have given her more than £1.3 million over the last two years.
In legal documents due to be submitted to the High Court in May, she names property investor and philanthropist Sir Tom Hunter, Harold Tillman, the boss of fashion brand Jaeger and Richard Caring, the owner of The Ivy, Annabel's and Soho House.
Mrs Young told the Standard today: “It's time the truth is told. Scot Young and all third parties and institutions have still failed to give a full and frank disclosure on the £400 million.”
However, a source close to Mr Young today said the move was likely to backfire on her as his high-profile friends may cut off the family's only source of money because they are unhappy their generosity has been publicly revealed.
Mrs Young was awarded £27,500 a month in maintenance, on top of rent and school fees for her two daughters, Scarlet, 17, and Sasha, 15, last December by Mrs Justice Black. But Mrs Young claims her husband, who says he is broke, has not complied with the court order.
Mr Young, 48, has had his passport seized and was given a six-month suspended sentence after a judge ruled he had failed to give a full explanation of how he had lost his fortune.
Mrs Young's legal papers state Sir Philip paid £110,000 to the Youngs for rent on a home in Regent's Park as well as £5,000 of Topshop vouchers as “provision” for Scarlet and Sasha.
His office confirmed there had been two payments totalling £80,000 to her estate agents for rent and “about £1,000” given to the daughters as a Christmas present.
Mr Tillman is alleged to have given £92,000 to Mrs Young. He said: “I have in the past helped Scot Young. But I have certainly not made any direct payment to his wife.”
A spokesman for Sir Tom said he had provided £124,000 in the form of rent and school fees while Mr Caring lent Mr Young £50,000 towards legal fees.
Reader views (2)
I'm sure she could find somewhere to rent a lot cheaper than that. I'm guessing she doesn't have a job, hence getting all these people to give her money, so surely she could find the time to flat hunt...
- S-M Hearmon, London, UK, 22/03/2010 15:28
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Does the tax man know about these 'gifts'? This pathetic woman should stop sponging off rich men and get a job in the real world.
- Polly, London, 22/03/2010 13:47
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