Jurisdiction(s):
United Kingdom

Southwark Crown Court activates eight-year default sentence after Elie Taktouk fails to pay court order in private prosecution over Knightsbridge property fraud

Published on: 15 October 2024

Published by a Law360 reporter

Legal News

Article summary

On 11 October 2024, the extra custodial term imposed on Elie Taktouk was triggered and brought into effect after he failed to satisfy a court order issued in November 2023, a statement released on 12 October 2024 by solicitors conducting the private prosecution confirmed and reiterated. According to that statement, Taktouk had been found guilty over a collapsed £7.7m property transaction in London that ultimately culminated in the property being repossessed. At Southwark Crown Court, Judge Alexander Milne KC directed Taktouk to repay the sum—among it £3.2m in compensation—to the fraud’s victims within three months. Milne J had already handed him a seven-year sentence of imprisonment. The businessman—whose family is prominent within Lebanese and Nigerian circles—told the court at an August 2023 hearing that his late father, Youssef Taktouk, held approximately £187m in total assets overall. The case itself traces back to Taktouk’s 2014 property venture involving the Swiss father-and-son duo Frank and Adrien Noel, mutual acquaintance Pierre-Adrien Colliac, and Youssef Taktouk...

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