Africa’s youngest billionaire, Ashish Thakkar, has been stripped of his family fortune after losing a divorce case.
The co-founder of Africa banking conglomerate, Atlas Mara Ltd. lost the case after the judge questioned his faithfulness in the divorce case which was filed in a London court.
Judge Philip Moor who presided over the case ruled that the family assets belonged to Thakkar and not his mother and sister and thus ruled against him.
Judge Moor who believed he had been lied to by the witnesses, Thakkar’s Mother and sister said: “I regret to say that I consider the whole thing to be palpable nonsense.
“It follows that I find I have been repeatedly lied to by all three respondent Thakkar witnesses, which has extremely serious consequences for the rest of their evidence.”
The 35-year-old businessman had claimed he is worth 445,532 pounds ($553,000) in assets while his wife had claimed him to be far richer.
Judge Moor in the divorce ruling found out that Thakkar was described in videos posted on his foundation’s website as Africa’s youngest billionaire which lends credibility to his wife’s claim.
The judge further found out that Thakkar against his claim owns 100 percent of the Mara Group Holdings and Inspire Group Holdings Ltd.
This article originally appeared on Herald.
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