Tycoon avoids jail threat over ‘missing’ millions

A “BROKE” property tycoon avoided the immediate threat of jail yesterday after a family judge heard he had gone some way towards obeying a court order to explain what has happened to his £400 million (€447m) fortune.

And the judge was told that Scot Young had “made further financial provision” for his wife Michelle pending their divorce.

But Ms Young’s lawyers said they were not satisfied her husband was making the “full and frank disclosure” required of him to avoid a suspended six-month prison sentence for contempt of court.