Main Menu Practice Areas
Barbara L. Jouette, Attorney, P.C.
888-268-7997 / 214-385-4562

Texas multi-millionaire claims insolvency following divorce

A few years ago, a Texas hedge-fund CEO suspected his wife of having an affair. According to reports, he had tens of thousands of emails to use as proof against her. At one point he even believed that his business partner was the other man. Eventually he realized that he was wrong, but only after forcing his partner out of the company.

Ultimately the 6-year marriage failed and the man filed for divorce. A premarital agreement was set in place to give the woman a $5 million disbursement, but the husband has been fighting the payout for the past two years.

The man claims that he is bankrupt, notwithstanding the fact that records show he purportedly took home over $36 million in 2010 and purchased a home worth nearly $10 million at the end of 2011.

In a complex twist, the former business partner alleged that the husband was always planning on hiding his assets so that his wife wouldn’t receive the large payout. He claims that the husband also tried to get the former partner to lie on his behalf. After the partner refused to lie, he testified in support of the wife.

As a result, the husband claimed that the partner was mentally unstable and a resentful ex-employee. He denied all accusations and indicated that unresolved court cases are the reason why he is technically insolvent.

In high asset divorce proceedings such as these, it is wise to work with a qualified divorce attorney to ensure that your rights are not being violated and that you receive the support that you legally deserve.

Source: New York Post, “Hedge fund mogul in nasty divorce battle with ex,” Josh Kosman, Oct. 23, 2013

No Comments

Leave a comment
Comment Information