Tycoon who owns Sekonda watches is sued by his brother over claims he hid £1.5m of fortune from him

The multi-millionaire watch tycoon who owns Sekonda is being sued in London’s High Court by his younger brother over allegations he has hidden ‘millions’ of their father’s fortune from his sibling for decades.

Stephen Margulies has accused his brother Marcus Margulies, whose company Time Products (UK) Ltd owns watch brand Sekonda as well as Accurist, of concealing at least £1.5million which their father Alexander Margulies had intended would go to him.

Alexander, who set up the family watch empire after coming to Britain as an immigrant from Poland in 1931, left behind a ‘substantial’ sum following his death in the early 1990s.

For the past 30 years, the brothers have fought over the fortune in a series of court clashes which Stephen’s lawyers insist were largely caused by Marcus’…