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Monday, 17 July 2017

Tennis Legend goes bankrupt after losing his £100m fortune investing in Nigerian oil firms


Wimbledon legend Boris Becker lost a huge part of his £100million fortune in dubious investments in Nigerian oil firms, German news magazine Der Spiegel, reports.


Citing documents from soccer whistleblowing platform Football Leaks, Der Spiegel, said Becker struck the deal in 2013, which contributed to his recent bankruptcy.

The magazine said the ‘mega-deal’ was brokered by a Canadian firm and a Nigerian employee of Becker. It said documents show that in July 2013 Becker held shares in an oil and petrol firm in Nigeria.

But the investments tanked and last month he was declared bankrupt. John Briggs, Becker’s lawyer, told the London court: ‘He is not a sophisticated individual when it comes to finances.’

Becker, now 49, was once estimated to be worth upwards of £100million. He was declared bankrupt over undisclosed sums owed to London-based private bankers Arbuthnot Latham & Co since 2015. Remaining assets will be disposed of to pay creditors.




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