Posted on 05/06/2020 9:41:32 AM PDT by NRx
During their more than 30 years of marriage, Texas billionaire Ed and Marie Bosarge accumulated an unusual collection of treasures.
They owned 12 homes, including five properties in Maine and a private island in the Bahamas. They had a 180-foot sailing yacht with its own grand piano. They bought a $5 million Egyptian mummy. Marie bought some of Marilyn Monroe’s personal effects, including her furniture, dresses and bras.
“It was over the top,” Marie said of their lifestyle.
Now, instead of living the high life, Marie Bosarge fears going under. When Ed filed for divorce in 2017, Marie discovered that almost all of the couple’s property — from the homes and island to her jewelry and even some of their tableware — had been put into a special trust that shielded the assets from any claims. Rather than getting half of a fortune she estimated to be worth more than $2 billion, she may wind up with little or nothing after paying her legal bills.
In a lawsuit filed in 2018, Marie claims that the trusts “were created and used by Ed to hide income and property and to hold what would otherwise have been personal income and assets.” She claims the purpose of the trusts and the transfer of assets between the trusts was “to cut Marie out of her rightful share of the community estate.”
Attorneys for Ed Bosarge — who founded high-speed trading firm Quantlab — declined to comment on the case, citing confidentiality rules. Marie’s attorney also declined comment. But in court papers, Ed’s attorneys have claimed that the assets are owned and controlled by the trust, not by him, and are therefore not marital property. They say the total value of the couple’s marital property, which would be subject to division, is about $12 million.
(Excerpt) Read more at cnbc.com ...
And she knew nothing of this after 30 years of marriage?
Bullshit.
As a woman who made money before I got married, made money while I was married and continued to make money after my marriage ended, women like this make me sick.
Women asking for money for themselves(not children) during a divorce are prostitutes, plain and simple.
Get a job, you bum!
She’s seems high maintenance.
ok... they were married 30 years, the dude is worth 2 BILLION. Come on! Give the girl a $100 million and move on, stop being a jerk.
I would not pay 5 cents for an Egyptian Mummy
Texas is a community property state. This business was started after they were married. My reading of Texas divorce law is that she is entitled to half of the assets. I hope he gets raked over the coals by the judge.
She can bust those trusts. If she believed what they bought were gifts to her, then she can claim theft by the trusts.
Looking at picture she must have been a child bride or they have the best plastic surgeon on planet.
As a woman who made money before I got married, made money while I was married and continued to make money after my marriage ended,......What are you doing tonight? There is a full moon...
As I understand it, putting it in a trust gives sole ownership to the trustee.
Karen to the max
Mutton dressed as lamb.
i do not know Dakota law, but for those few states that recognize “community property” it usually includes almost all property acquired by either spouse during a valid marital relationship (they have a marriage license).
it can be placed into trusts by the agreement of BOTH spouses, but this does not change its “community property” character.
again, I do not know Dakota law but this report sounds erroneous
In 1998, he and a business partner founded Quantlab in Bosarge’s house. Marie said she was one of the first employees, managing the main office in their dining room and smoothing relations between the co-founders and early employees.
In 2012, according to the lawsuit, Ed began an affair with a Russian woman. He file
It looks like she had a job. It looks like her husband was a scheming scumbag with great lawyers and a asset hiding plan.
Now, THAT’S a small violin!
I just watched the attached video.
The way some people live their lives is just absolutely unbelievable..
We have everything in a irrevocable trust, which sounds like what this guy has done. The trustee has full power over it, but if you do it you better trust the trustee. I’m the trustee of ours which includes the family business, and what’s worse is my wife is co-trustee before my brother steps up. He doesn’t know that yet either.
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