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All about the money



 
 
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  #1  
Old March 26th 05, 11:58 AM
Simpledog
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Default All about the money

Cheating Wife Awarded More Than $40M

Fri Mar 25, 3:30 PM ET U.S. National - AP



BRIDGEPORT, Conn. - A judge has awarded the former wife of a
multimillionaire businessman a divorce settlement worth more than $40
million even though she admitted having affairs with her rock-climbing guide
and a man she met on a flight to China.



In addition to a $24 million payment, Susan Sosin will keep the couple's
$3.6 million Manhattan apartment, $2 million Utah ski house and $800,000
home in Wallkill, N.Y. But she has to vacate the couple's two mansions in
Connecticut and three desert properties in Arizona.


In the divorce granted Wednesday, she also gets to keep $6 million in her
brokerage accounts, eight cars and $2.9 million in jewelry, including a ruby
piece her husband had bought for her but hadn't given to her prior to their
divorce.


Richard Albrecht, attorney for Sosin's husband, Howard, estimated the total
value of the award at $43 million, or 27 percent of the estate. She wanted
half, he said.


"My opinion is her conduct in this matter affected the award," Albrecht
said.


Susan Sosin's lawyer, Frederic J. Siegel, estimated the total value of the
award was about $45 million and said his client asked for about 45 percent
of the estate.


"By anybody's standards, it's a large amount of money," Siegel said. "Both
parties will be able to move on with their lives."


Siegel said both sides were at fault for the divorce and defended his client
as a good mother.


Howard Sosin, 54, who founded AIG Financial Products in 1987, filed for
divorce after discovering his wife's relationships in February 2003. During
an upgrade of their computer system, he found hundreds of e-mails between
his wife and her lover, according to testimony.


Susan Sosin, 51, admitted in testimony that she had become intimate with a
guide while rock climbing in 1996, though she said it was a spontaneous and
isolated occurrence. During a flight to China in 2000, she met a married
man, and that led to a lengthy affair, according to testimony.


"The parties' marriage has been undeniably marred by the defendant's
infidelity," Superior Court Judge Howard Owens stated in his verdict.
"Although her sexual relationship was not the sole cause of the breakdown,
it did effectively terminate the marriage."


Howard Sosin's wealth was estimated at $168 million. Among the assets he
gets to keep are $89 million in bank accounts, 10 of the couple's 18 cars,
$960,000 worth of private club memberships and $22 million in fine art.


The couple met in 1978 when Howard Sosin was an assistant professor at
Columbia University. At the time, she was married to another man and working
in retail.


Howard Sosin served as the president and chief operating officer of AIG
Financial Products until 1993 when he left the company. Following
litigation, he received $182 million from AIG.




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  #2  
Old March 26th 05, 12:50 PM
SCREWEDBYJUDGEGEOTOOKIEJAMES
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Default

I thought Barger was from Florida?
"Simpledog" wrote in message
...
Cheating Wife Awarded More Than $40M

Fri Mar 25, 3:30 PM ET U.S. National - AP



BRIDGEPORT, Conn. - A judge has awarded the former wife of a
multimillionaire businessman a divorce settlement worth more than $40
million even though she admitted having affairs with her rock-climbing

guide
and a man she met on a flight to China.



In addition to a $24 million payment, Susan Sosin will keep the couple's
$3.6 million Manhattan apartment, $2 million Utah ski house and $800,000
home in Wallkill, N.Y. But she has to vacate the couple's two mansions in
Connecticut and three desert properties in Arizona.


In the divorce granted Wednesday, she also gets to keep $6 million in her
brokerage accounts, eight cars and $2.9 million in jewelry, including a

ruby
piece her husband had bought for her but hadn't given to her prior to

their
divorce.


Richard Albrecht, attorney for Sosin's husband, Howard, estimated the

total
value of the award at $43 million, or 27 percent of the estate. She wanted
half, he said.


"My opinion is her conduct in this matter affected the award," Albrecht
said.


Susan Sosin's lawyer, Frederic J. Siegel, estimated the total value of the
award was about $45 million and said his client asked for about 45 percent
of the estate.


"By anybody's standards, it's a large amount of money," Siegel said. "Both
parties will be able to move on with their lives."


Siegel said both sides were at fault for the divorce and defended his

client
as a good mother.


Howard Sosin, 54, who founded AIG Financial Products in 1987, filed for
divorce after discovering his wife's relationships in February 2003.

During
an upgrade of their computer system, he found hundreds of e-mails between
his wife and her lover, according to testimony.


Susan Sosin, 51, admitted in testimony that she had become intimate with a
guide while rock climbing in 1996, though she said it was a spontaneous

and
isolated occurrence. During a flight to China in 2000, she met a married
man, and that led to a lengthy affair, according to testimony.


"The parties' marriage has been undeniably marred by the defendant's
infidelity," Superior Court Judge Howard Owens stated in his verdict.
"Although her sexual relationship was not the sole cause of the breakdown,
it did effectively terminate the marriage."


Howard Sosin's wealth was estimated at $168 million. Among the assets he
gets to keep are $89 million in bank accounts, 10 of the couple's 18 cars,
$960,000 worth of private club memberships and $22 million in fine art.


The couple met in 1978 when Howard Sosin was an assistant professor at
Columbia University. At the time, she was married to another man and

working
in retail.


Howard Sosin served as the president and chief operating officer of AIG
Financial Products until 1993 when he left the company. Following
litigation, he received $182 million from AIG.





  #3  
Old March 26th 05, 05:46 PM
Bob Whiteside
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Default


"Simpledog" wrote in message
...

The couple met in 1978 when Howard Sosin was an assistant professor at
Columbia University. At the time, she was married to another man and

working
in retail.


Forget about the money angle. This is an example of how people who do not
value one relationship, won't value another relationship. Cheating on
spouse #1 made cheating on spouse #2 easier. Having the first affair made
having the next affair easier.

The absence of fault finding in divorce has accelerated this type of
cyclical behavior. But the real issue I have with these types of cases is
woman always receive financial gains for being unfaithful. And men always
pay financial penalties when their spouse was unfaithful.

It just doesn't seem right that a man should have to pay large amounts of
money to finance an unfaithful woman's next dalliance in the behavior cycle.



  #4  
Old March 26th 05, 06:15 PM
T
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Posts: n/a
Default


"Bob Whiteside" wrote in

The absence of fault finding in divorce has accelerated this type of
cyclical behavior.



I don't feel any sympathy toward either one!

He married an adulteress and now he's paid the price. I'm not religious, but
perhaps the good book has it right when it suggests that marriage after a
divorce is not a good idea. Why do people feel the need to be married in
this day and age of instant gratification. Nothing lasts forever, so why
bother saying vows that you know you can't keep?????



  #5  
Old March 27th 05, 12:38 AM
J
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Default

This is not suprising at all. Too bad though. Hey at least he is still
rich! Did he have children, I wonder what CS is?

  #6  
Old March 27th 05, 09:12 AM
flinrius
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Default

Yes this guys case isn't as bad...if he made $50K a year he'd be at Moms
house...he's a far cry from that even after the damage his ex-wife gave him.
I'm sure next time around if it happens there will be a prenup to limit the
damage maybe to a million or two.....

"J" wrote in message
oups.com...
This is not suprising at all. Too bad though. Hey at least he is still
rich! Did he have children, I wonder what CS is?



  #7  
Old March 27th 05, 05:22 PM
T
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Posts: n/a
Default


"flinrius" wrote in

I'm sure next time around if it happens there will be a prenup to limit
the damage maybe to a million or two.....



There will be no next time, it's so much easier just to buy them a condo and
go visit them!
Marriage is only for the young and foolish!!!!!!!


 




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