Sir Frederick Barclay transferred fortune to avoid paying tax, ex-wife tells court

Businessman could face jail after failing to pay a penny of 100m divorce settlement awarded to Lady Hiroko Barclay

Sir Frederick Barclay, once one the UK's richest men, has been accused by his wife of 34 years of transferring all his wealth to his daughter and to a complex series of trusts in order to avoid paying any tax".

The 87-year-old - who, together with his twin brother, the late Sir David Barclay, built up a vast business empire including the Daily Telegraph - faces a potential prison sentence for contempt of court after failing to pay a penny of the 100m divorce settlement awarded to his ex wife.