Fawaz Al-Hasawi has maintained he wrote off £60m of Nottingham Forest's debts before selling the club for £1 and rubbished claims he took a replica of the 1959 FA Cup.
Forest confirmed on Thursday they met a court order to return £4.2m to former owner Al-Hasawi, plus interest and legal fees which were growing by £1,300 per day.
However, the Championship club have restated their intention to overturn that ruling on appeal and say Al-Hasawi's repeated claim he sold Forest to Greek shipping tycoon Evangelos Marinakis for £1 is "wholly misleading".
In an exclusive interview with Sky Sports News, Al-Hasawi dismissed the allegations.
"I spent over £100m on the club and wrote off £60m of its debts," he said.
"I love Nottingham Forest and wish them all the best. If I didn't like the club or wanted to destroy it, I could have done so. I could sell all the assets.
"I sold [Marinakis] a club full of assets. There is proof - after I sold the club they sold one of my players, Britt Assombalonga, to Middlesbrough for £15m. I bought him for £5m. They make £10m, good for them. They sold another player, Ben Brereton, to Blackburn for another £8m.
"If I wanted, from day one I could have sold all the assets in the club and then sold it for £1. But I didn't do this. The club would have gone into League One the next year."
"I bought the FA Cup with my own money"
Al-Hasawi also rubbished the accusation he took Forest's replica of the 1959 FA Cup and claims the owners created the story to try and tarnish his name.
"What they say about the FA Cup is totally wrong," he said. "They said it was in the club, the original FA Cup. That's wrong. It's a replica I bought, not the original.
"I bought it for £23,000 from my own money, not the club's. I brought it to the club so the fans could take some pictures. I collect cups, I also have a replica of the European Cup, the World Cup, La Liga. I put them in Kuwait. It's my hobby.
"They think this cup belongs to the club and I stole it. Can you imagine - I spent £100m on the club and stole a cup worth £23,000?
"It's not right and I'm really surprised why this story has come when I won in court. They want to talk about the cup, not the main issue here.
"If they want, I'll order them a replica tomorrow, no problem, and will write Nottingham Forest, 1959 on it."
He added: "Nottingham Forest won around 15 or 16 trophies in their history. The two European Cups in Nottingham, they are not the originals.
"The originals are gone, they don't know who took them."
Al-Hasawi admits he made mistakes during his five-year reign at the City Ground, including becoming chairman, but hopes to eventually see the club competing in the Premier League.
He said: "Nottingham Forest took my time, my effort. I left my country and stayed in London and Nottingham. I didn't miss a game.
"That club was everything for me. I was really happy during that time. I did it from my heart. But at the end of the day when people protest against you, of course you regret it.
"I have all the respect for the fans, I don't blame them for whatever they did to me and wish them all the best.
"But also, I was not surprised because they did the same thing with the previous owner. They even protested against the Doughty family.
"Fans are fans and they want you to win, but if you don't things will not work between them and the owner."