A Russian businessman who led a secret double life has been ordered by a British court to hand over more than £100 million in money and assets to his ex-wife.Mikhail Kroupeev and Elena Kroupeeva married in 1988 and spent more than three decades together before their relationship fell apart. The breakup came after she discovered he had another wife and children in Russia.After he became a British citizen in 1993, the couple moved to the UK and had two children, The Sun reported. However, the court heard his second child from a secret relationship was born around 2008. Their divorce has been ongoing since 2024 and was mainly due to disputes over money and assets.At the heart of the case is the couple’s wealth. Krupeev owns oil and gas-related businesses, including a contract to export oil from Syria worth $1.5 billion to $2 billion. Another company operating in Kazakhstan is said to have generated tens of millions of dollars in profits.During the hearing, his ex-wife’s legal team argued that she should receive three properties, including their former seven-bedroom home in St John’s Wood, London, worth £14.4m, and properties in Russia and Portugal worth a combined £26m. They are also demanding £32.1m in cash.Krupeev appeared in court via video link and represented herself, arguing that she should only receive property and £300,000. But the court rejected his position.Deputy High Court Judge James Ewins KC ruled that he must hand over three properties and £60m in cash, bringing the total settlement to about £100.6m.The judge was critical of Krupeev’s conduct throughout the case. He said he had “constantly breached various court orders” and “severely compromised” his position. He also called his evidence “extremely unsatisfactory and lacking credibility”, adding that his repeated apologies “rang hollow”.Krupeev was previously sentenced to 28 days in jail for contempt of court for refusing to properly value his business. The sentence was suspended if he complied with the court order.The court was told the family lived a very wealthy lifestyle during their marriage, traveling between their homes in London, Portugal, Türkiye and Russia. They enjoy luxury holidays on private jets, including an annual Christmas trip to Mustique, while Elena Krupeva regularly goes shopping in Milan. Krupeev also owns an expensive collection of wine, watches and guns.After the relationship broke down, she said her £40,000 monthly allowance was cut. Krupeev claimed he had limited cash available, but the judge noted he had spent more than £500,000 using his American Express card in less than a year. He was also found to be supporting his second family financially.Judge Ewings said the £100.6m settlement was “affordable” for Krupeev and would require him to use only a small proportion of his wealth.In a statement shared by Penn Hicks Beach’s lawyers, Elena Krupeva said she was “delighted” with the decision after “a disturbing period of insecurity.”
