July 24, 2021

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In the UK’s largest divorce case, Temur Akhmedov ordered to pay mom $ 100 million

NDTV News


Temur Akhmedov is his of billionaire Farkhad Akhmedov.

The son at the center of the UK’s biggest divorce lost a London court ruling over his role in hiding assets from his mother to a judge who called him “a dishonest individual who will do anything to assist his father”.

Temur Akhmedov worked with his billionaire father, Farkhad Akhmedov, to do “whatever he could” to prevent his mother from getting a £ 450 million ($ 627 million) court-approved divorce refund, the judge said. Gwynneth Knowles in a ruling on Wednesday. The judge ruled that Temur should pay his mother more than $ 100 million.

The trial drew attention after Temur revealed he lost more than $ 50 million in daily exchanges while he was a college student. He had argued that, far from hiding his father’s money from his mother, he had instead lost some to bad trading.

“Temur learned well from her father’s past conduct and did and said all she could to prevent her mother from receiving a penny of the marriage fortune,” the judge said.

The son of a conflicted couple “shocked” his father in a $ 600 million divorce

Temur’s mother, Tatiana Akhmedova, wants the keys to a luxury apartment overlooking London’s Hyde Park in an attempt to recover some of the money.

Azerbaijan-born Farkhad made much of his wealth from the sale of his stake in a Russian gas producer in November 2012 for $ 1.4 billion. But the oligarch refused to make any divorce payments, leaving Tatiana, backed by litigation financier Burford Capital Ltd., to pursue cases in at least six countries.

“Quite predictably, given its original wrong and misleading judgment, the London court ruled in favor of visiting the father’s ‘sins’ on an innocent and loyal son,” Farkhad said in a statement.

The fight led to Tatiana’s hitherto unsuccessful legal attempts to seize a 115-meter (377 ft) superyacht once owned by Roman Abramovich that is currently in Dubai, and a collection of modern art worth over $ 140 million in a secure storage facility in Liechtenstein known as the “Treasure House”.

Farkhad moved to Russia after the initial divorce order in 2016. But getting a British ruling against Temur, a UK resident, will make it easier for his mother to get her local assets.

At last year’s trial, Temur said his father made his decisions. He said his mother’s choice to involve him in the litigation was “tremendously upsetting and in many ways quite frightening.”

He said in a statement that while he disagreed with the ruling, “he would consider it a price worth paying if it leads to a reasonable agreement between the parents they both love.”

Tatiana said during the trial that her relationship with her eldest son “is now very strained”. He said he felt he had no choice but to sue him.

“I always knew that my strength would prevail through the smoke and mirrors presented by Farkhad and his circus of illusionists,” Tatiana said in a statement after the sentence.

Temur told the trial that he had some early success in stock trading, only to have a losing streak while studying at the London School of Economics. When he tried to recover the money, “convinced that this loss was just bad luck,” he increased his risk exposure and lost everything, he explained in court.

The judge dismissed Temur’s explanation that his mother knew about his trading, saying the transfer of millions of dollars from his father’s account was actually designed to put him out of his reach. It was not the point that he had accumulated losses later on, he said.

“All happy families are the same, every unhappy family is unhappy in its own way,” Knowles said in his judgment. “With apologies to Tolstoy, the Akhmedov family is one of the most unhappy to ever appear in my classroom.”

(Except for the title, this story was not edited by the NDTV staff and is posted by a syndicated feed.)