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Woman sues billionaire ex for hiding financials in divorce

For those who go through a divorce in Lake County, Illinois, the idea of not getting a fair settlement can be a real fear. Sometimes divorces can get downright nasty, and one spouse may attempt to hide financial information from another as a way to keep it all to him or herself.

This is the allegation that one woman is making against her billionaire financier ex-husband. The two were married in 1979 shortly after the man had graduated and was beginning his career. They had two children together, but went through a high-end divorce in 1990. The man agreed to pay for the children’s private schooling, tutoring, extracurricular activities and summer camp along with $2,230 a month in child support. The woman received $1 million and their Manhattan apartment worth $3.8 million.

After the woman says she ran into financial troubles, she asked for more child support in 1991. She also claimed that her ex-husband had hid substantial income from her by filing a separate income tax statement. After a back-and-forth battle, the couple eventually agreed to more child support.

In 2006, the woman found out about a multi-million dollar settlement her ex-husband had received while they were married and did not tell her about. She filed a lawsuit against him in 2009 in which she accused him of breach of fiduciary duty and fraud. Her claim was approved by a judge recently and she can proceed with her lawsuit.

If you feel that you got the short end of the stick in your divorce settlement, you may consider speaking with a family law attorney who can review your settlement and address your concerns.

Source: The Wall Street Journal, “Steve Cohen’s ex-wife sues him, offers a glimpse of how the super-rich live,” Christina Rexrode, Jan. 27, 2014

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