During their more than 30 years of marriage, Texas billionaire Ed and Marie Bosarge accumulated an unusual collection of treasures.
Marie said that since her legal bills are already well into the millions, "I could wind up with nothing." Marie said that when she and Ed married in 1989, they had little wealth. Soon after they were married, their house was repossessed. But Ed, an accomplished mathematician and former NASA contractor, eventually found success trading commodities.
They had five properties in Maine, one in Aspen and a luxury flat in London. They bought a succession of sailing yachts, including a 180-foot superyacht named Marie. Since she liked to play piano, they had a grand piano permanently fixed to the floor of the yacht "so it wouldn't slide around," she said.
Initially, Marie was a beneficiary of the trusts, meaning she would receive income or benefits from the assets. But before their divorce, according to the lawsuit, Ed transferred the assets into new trusts that limited or shut out her interests. In keeping with South Dakota law, he was not required to notify her of the changes, according to the lawsuit.
She said when she found out about the trusts, "I cried. I was in tears. I couldn't believe some of the things, you know, that I found out."
...it also popularizes why someone who has billions in assets to risk would ever get married, other than the early onset of dementia...
I have known this creepy bit of Texas subculture all my life, and just when I start to think that rich people can't be this dumb anymore, I'm once again reminded that they can indeed remain this dumb forever
Hopefully these two idiots will burning all the money up with lawyers. 🤦🏽♂️
how do I set up a trust in South Dakota, ask for a friend ?
nigel_xavier_ bro, read this article. This shit burnt
Ahhh shut up.
Capitalistic greed is ushering in Socialism. This is a great example of it.
AND NETHER WAS KILLED BY A WHITE COP, HOLDING HIS KNEE ON HIS NECK UNTIL THE LIFES BREATH WAS GONE AND STILL CONTINUED TO DO LIKEWISE?
Every time I think I have a bead on how the mega rich operate, there’s underground bunker cities in new Zealand and asset trusts in SD
Loopholes for the wealthy, what a surprise.
Let's talk about trust accounts and medicare fraud.
It seems like he felt that she is gold digger before he married her.
Particularly when Marilyn was w/the Kennedys.. - Billionaire divorce gives a rare glimpse into the highly secretive world of asset trusts in S Dakota Wife bought overpriced Marilyn Monroe personal effects, eg, dresses & bras, noting: “It was over the top”
Getting $6M and still complaining fuck me
Red state rules bought by rich guys to rip off the working class. Keep voting against your interests S. Dakotans.
Turduckens of tax cheating, a trust inside a numbered company inside shell company wrapped up in an LLC. Another thing for American business to clean up.
A ruthless mathematician. Well played by him.
How is this legal? WTF
dacmillero What does she expect? She knew he cheated on taxes, hid his wealth, engaged in ripping people off for their billions. And now she's surprised he is doing it to her too. Lie down with dogs and end up as poor as a flea.
Ouch
That's not news to the legal community that specializes in money laundering, excuse me, 'tax avoidance'. But again pushing too far ruins a good thing. Screwing his ex-squeeze out of money is now putting the whole scheme at risk. How selfish! His fellow plutocrats should shun him!
Huh, I had no idea. Wow.
Matt__Weston
Because all roads lead to South Dakota.
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