Divorce Fraud Convict Ordered to Repay Millions to UK Courts

Divorce Fraud Convict Ordered to Repay Millions to UK Courts

Elie Taktouk, a property developer convicted of orchestrating a multi-million pound fraud, has been ordered to repay £1.3million to the UK authorities. The judge ruled that this amount must be returned as part of a confiscation order, following Taktouk's earlier conviction for fraud and forgery related to a failed Knightsbridge property project.

The Fraud Convictions

Taktouk, who previously served seven years in jail, was convicted of eleven counts of fraud and forgery in 2021. His company, JMT Property Ltd, was at the heart of the scam. Developers Adrian and Frank Noël initially invested in a property Taktouk managed. However, instead of using the funds for development, Taktouk allegedly diverted more than £2.5million towards his personal lifestyle, leading to a total estimated loss of £3,237,347.

Despite serving his sentence, Taktouk had previously been ordered to pay £4.5million under a confiscation ruling. A subsequent appeal at the Court of Appeal successfully overturned a part of that ruling, preventing an immediate jail term if the money wasn't repaid. However, the ownership of Taktouk's former family home, sold to his ex-wife and Fabregas for £5.5million, remained unaffected.

The Divorce Context

Taktouk's conviction and subsequent financial restrictions are closely tied to his personal life. He married Lebanese supermodel Daniella Semaan in 1998, but their marriage ended in 2013 when she left him, reportedly for football legend Cesc Fabregas. The couple, Fabregas and Semaan, eventually married in May 2018 and now share three children.

The bitter divorce proceedings saw Taktouk lose his £5.5million Belgravia home to his ex-wife and her new partner. The legal battle coincided with his conviction for the property fraud, adding another layer to his financial downfall.

Background and Family Wealth

According to court documents, Taktouk's father, Youssef Taktouk, was reportedly one of the richest men in Ibadan, Nigeria, with an estimated personal fortune of around £187million. Both Elie and his brother, Dr Wassim Taktouk, were shareholders in their father's company, Wasseli.

In a recent development, the court heard that Dr Wassim Taktouk has agreed to use some of his father's property holdings to satisfy the £1.3million confiscation order.

Court hearing image - Elie Taktouk arrives at the Central Criminal Court

The New Order

Prosecutors confirmed the £1.3million figure represents a compromise figure between the amount Taktouk claimed was available to him (£4.5million previously) and the figure he would need to disprove (£5.5million). The prosecutor assured the court that this revised sum is "certain" to be paid.

Cesc Fabregas and Daniella Semaan (Instagram)

Legacy of Deception

Elie Taktouk's conviction stems from a private prosecution brought by the Noël family, who suffered the financial loss from the failed project. His conviction and subsequent struggles highlight a significant legal case intertwined with a high-profile personal relationship.