A millionaire businessman has been accused of spending an £18 million fortune on “boys toys” in an attempt to stop his ex-wife receiving any proceeds from heir jointly-owned assets in their ongoing and bitterly disputed divorce case, reports The Daily Telegraph.

Maya Kanev-Lipinski claims that her ex-husband Sharar Lipinski has been threatening to leave her “parked and penniless” as he spends their money on Bentleys and penthouses.

Since the divorce case was started, Mrs Kanev-Lipinski says that he former husband has moved around £17 million away from their jointly-owned East Midlands student housing business. The claim is backed up by Mrs Kanev-Lipinski’s lawyer. Andrew Hunter QC said Mr Lipinski had been treating the couple’s assets “as his own personal wallet”.

Mr Hunter added that the couple had “built up a very successful multi-million-pound business investing in and providing high-quality student accommodation”.

Before their split, both parties signed a ‘divorce agreement’ to say that the couple’s multi-million-pound assets would be divided equally between them. However, since learning of Mr Lipinski’s spending spree, Mrs Kanev-Lipinski has obtained a temporary High Court injunction to freeze their assets before they are lost.

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By Vitek Frenkel – find me via Google+.