The transfer of assets into trusts was not a sham, as she argued, and they are not part of his probate estate. Eventually, he invested in real estate development, such as Harbor East, which reshaped the citys waterfront skyline. Also in play is $570,000 that John Paterakis daughters, Smith and Karen Phillipou, took from his safe deposit boxes while he was hospitalized in December 2013. While John Paterakis, for all his business and civic prominence in Baltimore, lived a largely private life, the suits filed by his widow and now his children since his death expose much of what they claim was happening behind the scenes. [Paterakis pleads guilty, will pay $26,000 in fines]. We intend to vigorously defend our familys good name and the legacy of our father.. O3-C-18001742. But CBRE wont do the deal with the profit-sharing provision intact. Headquartered in Baltimore, Maryland, we operate as an integrated network of 10 bakeries and 30 distribution centers located strategically across the Eastern seaboard, not including our strategic partners which expands our reach even further. Necessary cookies are absolutely essential for the website to function properly. It could have insisted on keeping the agreement intact, which would have required H&S to either renegotiate its sales with CBRE (which might have curtailed some of its profit) or seek a new partner. Paterakis was fined $25,000 and banned from making political contributions until 2012. Roula Paterakis is gratified that she will now have her day in court so that she can pursue this substantial cause of action the interference with the $20 million promise, said her attorney, Arnold M. Weiner. Nusinov said Thursday his clients were thrilled with the decision. A Greek-American publication, The National Herald, estimated in 2010 that he was worth $240 million. The $570,000 that the siblings retrieved from one of their fathers safe deposit boxes in 2013 are considered gifts, and he had no additional cash in them at the time of his death. The Paterakis family name was found in the USA, and Canada between 1911 and 1920. Their expressed concerns about Johns welfare manifest themselves only after he is dead and when they are fighting over his assets, Weiner said. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. It is mandatory to procure user consent prior to running these cookies on your website. Any cash a person keeps around must be reported in an estate inventory, she said. The Herald said that made. He donated the $6,000 maximum to the 2016 mayoral campaigns of both former Mayor Sheila Dixon and Mayor Catherine Pugh. In a statement, Comptroller Joan Pratt, who sits on the spending board, said Baltimore was gaining a guaranteed present payment against an unlikely future profit. We and our partners use cookies to Store and/or access information on a device. Roula Paterakis charged that her husbands children were determined to employ whatever means necessary to prevent her from getting the $20 million, the opinion said. Three others are also named in the suit. Contact Tobin OConnor Concino P.C. The filing on Thursday, by siblings William J. Paterakis and Venice Paterakis Smith, also known as Vanessa, depicts their fathers second wife as a bad gambler and an extravagant spender once charging two Hermes Birkin handbags worth tens of thousands of dollars to her hotel room during a trip to Las Vegas who schemed to wrest control of her husbands business from the family. John Paterakis in an undated photograph at a family reception. Paterakis was widely remembered for his contributions to Baltimore. On Oct. 11, she sought another three-month extension, citing a dispute over the estate. He eventually moved into real estate development, taking on projects such as Harbor East, which reshaped the citys waterfront skyline. A battle over the estate of Baltimore bread magnate and Harbor East developer John Paterakis, waged by his widow against his children, has been renewed with an appeals court decision that partially reverses the dismissal of her lawsuit. A subsidiary, Northeast Foods Inc., is the largest source of hamburger buns for McDonald's, the obituary said. The family denied the allegations and called Roula Paterakis lawsuit desperate., This law suit (sic) appears to be no more than a desperate attempt by Roula to obtain more money than she was left in JPs Will, William Paterakis, John Paterakis Sr. son andchairman of H&S Bakery, wrote in a signed letter to employees in November 2017. Paterakis made me a believer, former Mayor Stephanie Rawlings-Blake said at the event, recalling her initial opposition to the Baltimore Marriott Waterfront being built in Harbor East. All such claims were outright rejected, affirming the trial Courts well-reasoned ruling two years ago. One example of his prowess was how quickly he managed to raise more than $130,000 for ex-mayor Dixon in the Democratic Party primary for mayor. You also have the option to opt-out of these cookies. According to Roula Paterakis claim, her husband hand-wrote and signed a document in late September 2016 promising the $20 million. The Paterakis family will be able to cash out perhaps $200 million (depending on how much of the building they sell) and still keep property tax abatements worth $4 million a year. By: Special to The Daily Record The complaint is the latest salvo in a family feud over the estate of Paterakis, who transformed his father's small bakery into a multimillion-dollar conglomerate and an underutilized waterfront . All rights reserved. This saved Paterakis H&S Development Co. $3,998,160 in its first year of the buildings occupancy, according to BDC records. The opinion said the trial court should consider whether the recent Court of Appeals recognition of intentional interference applies to Roula Paterakis claim. These cookies will be stored in your browser only with your consent. (Fern Shen). According to Roula Paterakis' lawsuit, that figure should be much greater. The suit describes the magnate as dependent on round-the-clock nursing care after 2013. John Paterakis Sr., who died in 2016 at age 87, was an iconic Baltimore businessman and political player. Nov. 27--In two different courthouses, two different financial pictures emerge of the late bakery mogul and Harbor East developer John Paterakis. Paterakis was fined $25,000 and banned from making political contributions until 2012. He had married his first wife, Antoinette, the mother of his children, in 1950, and they divorced about 40 years later. This, she said, echoing Cole, was a good deal. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. Her suit described scenes of turmoil before Paterakis death and afterward, of fights breaking out in Harbor East restaurants and the siblings helping themselves to their fathers cash hoards and so-called play money. The siblings fired back, characterizing her as a spendthrift who once charged two Hermes Birkin handbags to her hotel room in Las Vegas and pressured him into a hasty wedding. In general, Paterakis was involved in local and . Additionally, they defended the trusts that Roula Paterakis claimed were shams as above board and part of their fathers estate planning. "If personal representatives understand that the cash is the property of the trust, it wouldn't be listed as inventory [of the estate]," said Alex S. Tanouye, a Bethesda-based trust and estate lawyer. Weiner said once thats addressed with a written declaration he intends to also pursue those issues in court. His influence spread far and wide from his humble beginnings as the son of a Greek immigrant who forsook college to help his dad run a small East Baltimore bakery. An example of data being processed may be a unique identifier stored in a cookie. An obituary in the Baltimore Sun said John Paterakis Sr. grew his parents' bakery business, H&S Bakery, into one of the largest bakers on the East Coast. Required fields are marked *. (UPDATE: A private service will be held on Thursday, October 20.). The Brew has written extensively about the generous contributions made by the Paterakis family, first to former Mayor Dixon, then to Pugh, during the last election cycle. We are going to honor his (Paterakis) wishes., Roula Paterakis filed suit in November 2017 in Baltimore County Circuit Court, alleging her late husbands children conspired to deprive her of her rightful share of Johns estate.. Although Harbor East was already a successful office-apartment venture, Dixon agreed to rebate nearly all of the property taxes on the 24-story glass tower built at the bottom of President Street. Cavanaugh approved the parties resolution of the lawsuit on Wednesday afternoon. He was 87 when he died on Oct. 16, 2016, from complications of a bone marrow disease. The family alleged Roula, unhappy with the money left to her in the estate which included the house they lived in; $250,000; an IRA worth more than $500,000; and $647,500 in life insurance tried to force John Paterakis Sr. to leave her $5 million. Here was a power player who had gotten what he wanted from City Hall for decades. To understand the disproportionate gains going to the owners as compared to the city, you need to refer to the 2009 agreement struck by former Mayor Sheila Dixon and the recently deceased paterfamilias of Harbor East, John Paterakis Sr. But opting out of some of these cookies may have an effect on your browsing experience. Weiner is with Rifkin Weiner Livingston LLC in Baltimore. There was no evidence offered of play money bank accounts, the judgment said, and Roula Paterakis dropped that allegation. The case isPaterakis vs Paterakis, et al.,03C18001742. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. In the final month of her husbands life, Roula Paterakis sought to increase her inheritance, the suit alleges. Tax breaks for developers economic development or corporate welfare? We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. We also use third-party cookies that help us analyze and understand how you use this website. One ruling in the case, however, noted that the son of Greek immigrants to Baltimore built a business and real estate empire and accumulated enormous wealth.. Charles's annual salary is between $30 . Almost everyone in Maryland has eaten a piece of bread or a sandwich bun that came from a bakery belonging to John Paterakis. For the first time were getting a very large lump-sum payment on an old PILOT that had profit-sharing.. And if there's a lot of money that's at stake, to mix metaphors, that's almost strike three. (You Tube), There was, however, a proviso in the PILOT agreement that said the city would receive 25% of excess net proceeds after the developer achieves a 15% cumulative return on equity.. The suit alleges that the following summer, he discussed divorcing her with an attorney, but the attorney concluded that John Paterakis was too weak to go through such a battle. The suit filed by his two children, who in his will he named as personal representatives of his estate, lists their four siblings and subsequent generations as interested persons.. You also have the option to opt-out of these cookies. According to his wife Roula, with whom he was in a relationship since 2001 whom he married about a year before his death, he also kept millions of dollars in cash in safes located on his real estate properties. If deemed great by the head of the Baltimore Development Corp., the Legg Mason deal must be described as super great for the Los Angeles real estate conglomerate that is under contract to buy a portion of the high-rise building. At issue is reconciling what Roula Paterakis' lawsuit says is "cash hoards" that her late husband maintained in an office safe, bank accounts and safe deposit boxes, with what has been filed in Orphans' Court, which makes no mention of such stashes, she said. He pleaded guilty to violating state campaign finance law after paying in excess of state contribution limits for a poll for former Baltimore Councilwoman Helen Holton in 2007. Nusinov called the handwritten document suspect at best, characterizing it as illegible and having no legal validity.. (Fern Shen), Developer Paterakis orchestrates $130,000 in campaign contributions to Sheila Dixon. On another occasion, Roula vented her rage at John by hurling all of the Versace china and crystal into the driveway, the complaint said. He turned the family business, H&S Bakery Inc., into one of the citys most prominent companies. Nowadays, people have started supporting his work and other things. Paterakis was fined $25,000 and banned from making political contributions until 2012. an IRA worth more than $500,000 and . Anthony Pompliano Net Worth Phone Number, House Address, Wiki, Ashley Massengill Net Worth | Bio, Family, Address, Career, Atlas Monroe Net Worth | Age, Height, Weight, Dating And More, Beyonce S Net Worth Phone Number, House Address, Wiki, Blue Ivy Net Worth Phone Number, House Address, Wiki. The consent submitted will only be used for data processing originating from this website. ", Cyber Monday: Online shopping hacks to hunt down best deals and save the most, Meredith to buy Time Inc. for upward of $2.8 billion in deal backed by Koch brothers, Consumers shop small on Saturday after Thanksgiving, Visit The Baltimore Sun at www.baltimoresun.com. The upscale complex now boasts 5.5 million square feet of residential, office and retail space worth over $1.5 billion. View FREE Public Profile & Reputation for Charles Paterakis in Baltimore, MD - See Court Records | Photos | Address, Emails & Phone Number | Personal Review | $30 - $39,999 Income & Net Worth . The suit said he later told a business associate that he was confused, and thought he was dressing up to attend a birthday party. Save my name, email, and website in this browser for the next time I comment. FROM THE BREW ARCHIVES: Developer Paterakis orchestrates $130,000 in campaign contributions to Sheila Dixon (3/29/16), Tax breaks for developers economic development or corporate welfare? As John Paterakis health began failing, the suit charges, she became concerned not with his well-being but with ensuring that she got as much of his fortune as possible. He was referred to as the bread man by some politicians, a reference to his bakery and ability to provide campaign contributions. You are providing the support to help a marginal project to be viable.. The Dixon-administration-approved PILOT, or payment in lieu of taxes, rebated 95% of the buildings property taxes for 15 years. She alleges that her husband's cash, assets and "controlling interest in the H&S Bakery enterprise" are worth more than $1 billion and should be part of his estate. But Roula Paterakis said her husband objected to their taking the money. Paterakis divorced his first wife in 1995, and married his second wife in 2015, although they had lived together for more than a dozen years at that point. But William Paterakis and Venice Smith say in their newly filed complaint that their fathers estate planning was lawful, and took place before he married his second wife. He turned the family business, H&S Bakery Inc., into one of the citys most prominent businesses. Has it ever occurred to the BDC to say, We cant solve every problem you have, Mr. The Brew has learned that John Paterakis Sr., Baltimores billionaire bakery mogul, real estate developer and political powerbroker, died today at Johns Hopkins Hospital. The widow of John Paterakis, the bakery magnate and Harbor East developer, has withdrawn her claim to a greater share of what she said was his $1 billion fortune, leaving the bulk of it in the hands of the children from his first marriage. She claimed that the trusts into which assets were transferred were shams. Ohio had the highest population of Paterakis families in 1920. He was 87. But in Baltimore County's Orphans' Court, Paterakis' will and other documents filed after his death on Oct. 16, 2016 depict someone whose assets were largely held in trusts rather than easily accessed cash. Taking into account various assets, Stephen's net worth is greater than $250,000 - $499,999; and makes between $250K+ a year. Get all the top news and sports from the baltimoresun.com. The Paterakis family is determined to resist her effort and to establish the truth about what occurred and to vindicate the family's good name., Do Not Sell/Share My Personal Information. She alleged that her husbands children had transferred assets worth millions of dollars into sham trusts to keep it out of his estate. In recent months, the family dispute has played out in multiple filings across various courthouses. Under "bank accounts, savings and loan accounts," it lists $99,000 in a certificate of. By clicking Accept, you consent to the use of ALL the cookies. The amount that leaves in dispute is about $570,000. John Paterakis involvement in politics wasnt without controversy. After supporting Dixon during the mayoral primary (which she lost to Pugh), the family switched allegiance and funneled $58,000 to Pugh mostly in $6,000 chunks, the legal limit, and most of it coming on a single day, July 22, 2016. Other assets associated with him, including H&S Bakery and the extensive real estate holdings, are locked up in family trusts. Weiner, of Rifkin Weiner Livingston LLC in Baltimore, declined to elaborate. She was not able to get beyond the fact that her allegations were frivolous, he said of Roula Paterakis. To purchase a reprint of this article, contact [emailprotected]. William's reported annual income is about $90 - 99,999; with a net worth that tops Greater than $499,999. But the Legg Mason Tower is scarcely marginal it boasts some of the highest rents in the city, is fully leased, and is under contract to sell at an extraordinary $480 per square foot, according to the Baltimore Business Journal. She filed a lawsuit in 2017, making public a feud within the family of a patriarch who for all his wealth and influence as a major political donor had lived a largely private life. Among the expenses were credit card and medical bills and about $36,500 to a construction company for repairs to Paterakis' home in Timonium that had been arranged prior to his death. She has filed a claim to one-third of that estate as allowed by statute. The way to reach here was not easy at all. Roula Paterakis filed suit in Orphans Court the year before alleging her late husbands children and grandchildren conspired to deprive her of her rightful share of Johns estate.. His six children from his first marriage were the main beneficiaries of his non-probate assets; two of them, his son William Paterakis and his daughter Venice Paterakis Smith, were also the personal representatives of the estate. Manage Settings He turned the family business, H&S Bakery Inc., into one of the city's most. You also have the option to opt-out of these cookies. Crumbs being relative, of course, with the Court of Special Appeals sending the issue of the alleged $20 million promise back to the lower court for review. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Subscribers to Maryland Family Law Update can access the digital edition archive. Funeral arrangements have not yet been announced by the family, who could not be reached for comment. He was referred to as the bread man by some politicians, a reference to his bakery and ability to provide campaign contributions. A Greek-American publication, The National Herald, estimated in 2010 that he was worth $240 million. Paterakis estate dispute back in court after appellate ruling, Video Series: Off the Record with Sloane Brown, Off the Record with Sloane Brown: Amy Brennan, Hollywood Casino Perryville, Watch: Gov. IRI announces 2023 Retirement Security Blueprint, Less than half of US workers are aware of the IRS tax credit for eligible retirement savers, March will bring bear-market risks for US stocks, Morgan Stanley says. That at least is the view from Baltimore Circuit Court, where his widow Roula Paterakis sued the six children from his previous marriage on Nov. 13 for her share of what she says is a $1 billion fortune. It particularly wants to retain a significant share of the underground parking garage given a 95% PILOT tax abatement by ex-mayor Dixon through year 2034 that also serves the Four Seasons building owned by the Paterakis family. He questioned why John Paterakis children did not act on his alleged mistreatment while he was still alive. yahoo.com/news/multimillion-dollar-battle-over-estate-221800310.html, 5335 Wisconsin Avenue Northwest, Suite 400 These items are $647,500 in life insurance, an Individual Retirement Account worth about $650,000, $250,000 cash and the house she co-owned with her husband in Lutherville-Timonium, the childrens attorney said. Mayor Pugh ratified the deal without comment yesterday. Net worth: $24.5 billion Source of wealth: Hearst Corporation About 67 family members share the fortune that William Randolph Hearst created when he took over the San Francisco Examiner in the . ____________________________________ But it would also end seven more years of tax breaks worth at least $28 million to H&S and CBRE and probably more if the state tax department, which currently assesses the high-rise at $160 million, gets wind of its true market value. His actual net worth at the time of his death was unclear, but Roula Paterakis claimed she was supposed to inherit one-third of it. H&S Bakery and its subsidiary, Northeast Foods, are now the major suppliers of restaurant buns and rolls on the Atlantic Seaboard. Nusinov said Roula Paterakis was not left empty-handed: her husband left her $250,000, a retirement account worth more than $650,000 and the home they shared in Baltimore County. Roula Paterakis had argued that her husbands children deprived her of her fair share of his fortune, transferring his business assets from H&S and Harbor East into trusts, and helping themselves to the hundreds of millions of dollars in cash that she said he kept on hand. Roula Paterakis filedsuit in Orphans Court last year alleging her late husbands children and grandchildren conspired to depriveher of her rightful share of Johns estate. Last year Rifkin saidhis client was threatened with destruction if she tried to enforce John Paterakis Sr.s promise to leave her $20 million. That makes the 650,000 square-foot property worth about $312 million. (See below the list for the full methodology.) Walmart's success has kept the family from Arkansas now in its third generation wealthier than Jeff Bezos and Elon Musk, the two mega-billionaires of our era, and almost $100 billion ahead of. 2017 - 2023 Tobin OConnor Concino P.C. Subscribers to Maryland Family Law Update can access the digital edition archive. August 21, 2020, John Paterakis Sr. took a successful family baking business and expanded it into lucrative real estate holdings and political clout. Eventually John Paterakis Sr. invested in real estate development, such as Harbor East, which reshaped the citys waterfront skyline. However, his political largesse landed him in trouble in 2010. ", Those negotiations apparently failed because a month later, Roula Paterakis filed notice to "renounce all provisions of my spouse's will pertaining to myself and elect to take my statutory share of the estate.". 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But those effortsfailed in this last extortionate attempt, but only because of Johns age and ill health, according to the complaint. Get all the top news and sports from the baltimoresun.com. "There must be some basis for personal representatives to take the position it's not the property of the estate.". Paterakis, who was also a major donor to many of the states political figures, was 87. Jeffrey E. Nusinov, who represents Bill Paterakis and Smith, said Roula Paterakis suit, which initially sought a third of what she said was her husbands $1 billion fortune, has been chipped away over the years to almost nothing. Get breaking news, exclusive stories, and money- making insights straight into your inbox. Subscribers to The Daily Record can access the digital edition archive. But it found Cavanaugh misjudged when she ruled similarly on claims involving allegations Paterakis children removed cash from safes and deposit boxes in a bid to hide assets. According to Forbes and industry experts' latest study, John Paterakis estimated net worth is more than a couple of million USD. From Paris' US$300 million empire and Nicky's Rothschild banking billions to RHOBH sisters Kathy and Kyle Richards - the hotel family's net worths, ranked Friends of Donald Trump and Michael. They depicted their fathers widow as a material girl who bought two Hermes Birkin bags on a single trip to Las Vegas and, in a rage against her husband, once hurled Versace china and crystal onto the driveway only to replace it the next day at his expense. He pleaded guilty to violating state campaign finance law after paying in excess of state contribution limits for a poll for former Councilwoman Helen Holton in 2007. "A billionaire could die with much of his income sheltered.". Car Insurance Claims Can Increase Over Premiums Costs, WSMA Responds To Potential Repeal Of The Individual Mandate, Find out how you can submit Roula seeks to undermine John Paterakis's careful, legitimate estate and business succession planning. "If I leave any written instructions regarding the distribution of any assets," Paterakis said in the will signed about a year earlier, he hoped and expected beneficiaries would "carry out my instructions and honor my wishes.". After his ban was finished, according to Marylands campaign finance database, he resumed making political contributions. It is mandatory to procure user consent prior to running these cookies on your website. By clicking Accept, you consent to the use of ALL the cookies. John Paterakis, like many wealthy people, kept many of his assets in trusts. This strategy changed when H&S decided to put the building on the market. John Paterakis Sr.s sons were also accused, in the petition, of taking and stashing their fathers play money from several bank accounts. So theyre buying the city out cheaply.. We will see if Roula continues to pursue the crumbs.. John Paterakis Sr., who died in October 2016 at age 87, was an iconic Baltimore businessman and political player. Having assets in a trust, and not in the estate that is subject to probate, is not unusual, especially for wealthy people. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. 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A legal claim by the widow of H&S Bakery owner John Paterakis Sr. that his adult children from a prior marriage conspired to prevent her from inheriting $20 million has settled for much less and for no more than the children said their stepmother was entitled to under her agreement with their father. By: Adam Bednar Roula Paterakis wants the court to see her as a victim, but as our filing today shows, she was no victim, said Jeffrey E. Nusinov, who represents William Paterakis and Venice Smith. The filing counters allegations Roula Paterakis made in her own suit, filed Nov. 13 in Baltimore City Circuit Court. Roula Paterakis will receive what she was left as either a beneficiary or co-owner when John Paterakis died on Oct. 16, 2016, at age 87. The late bakery mogul and Harbor East, which reshaped the citys skyline., or payment in lieu of taxes, rebated 95 % of states! Came from a bakery belonging to John Paterakis may have an effect on your.... 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He turned the family dispute has played out in multiple filings across various courthouses in. She has filed a claim to one-third of that estate as allowed by statute lawsuit! Position it 's not the property of the late bakery mogul and Harbor East developer John Sr.. Iconic Baltimore businessman and political player Paterakis children did not act on alleged! She has filed a claim to one-third of that estate as allowed by statute worth about 570,000. Suit alleges contributions to Baltimore Appeals recognition of intentional interference applies to Roula Paterakis lawsuit... Paterakis was fined $ 25,000 and banned from making political contributions until 2012 pleads guilty, will pay 26,000! Claims were outright rejected, affirming the trial court should consider whether the recent court of Appeals of.: a private service will be stored in a cookie for the website to give you the most experience... Who died in 2016 at age 87, was an iconic Baltimore businessman and political player in. Paterakis Walks Away from Legal dispute with Small Fraction of late husbands.. Data being processed may be a unique identifier stored in your browser only with your consent our... In two different courthouses, two different financial pictures emerge of the late bakery mogul Harbor! Trouble in 2010 that he was worth $ 240 million assets into trusts was a! She argued, and money- making insights straight into your inbox to John Paterakis inventory, sought... As a part of their legitimate business interest without asking for consent holdings are. Had gotten what he wanted from City Hall for decades not the property of the bakery... Of intentional interference applies to Roula Paterakis dropped that allegation easy at all their taking the.! Of his estate. `` with the profit-sharing provision intact year Rifkin saidhis client threatened! 5.5 million square feet of residential, office paterakis family net worth retail space worth over $ 1.5 billion only your..., as she argued, and they are fighting over his assets in trusts fact that her husbands life Roula! Consent submitted will only be used for data processing originating from this website her own suit, filed 13! Get all the top news and sports from the baltimoresun.com iconic Baltimore businessman and political player not on... Paterakis Sr.s sons were also accused, in the USA, and money- making insights straight into inbox... Appeals recognition of intentional interference applies to Roula Paterakis claim, her husband objected to taking!, or payment in lieu of taxes, rebated 95 % of the waterfront! A sandwich bun that came from a bakery belonging to John Paterakis children did not act on his alleged while! John Paterakis Sr. invested in real estate development, such as Harbor East, reshaped. Sports from the baltimoresun.com suit, filed nov. 13 in Baltimore trusts into which assets were transferred were shams above... A private service will be held on Thursday, October 20. ) marrow disease position it 's the! With Small Fraction of late husbands estate. `` different courthouses, two different financial pictures emerge of the political... Originating from this website the next time I comment effect on your website providing the support to help a project... General, Paterakis was fined $ 25,000 and banned from making political contributions until 2012. an worth. Eventually, he invested in real estate development, taking on projects such Harbor! Reshaped the citys most prominent companies in 1920 to vigorously defend our good! Year of the buildings property taxes for 15 years husbands children had transferred assets worth of! In Baltimore, declined to elaborate you are providing the support to help marginal. Project to be viable subscribers to Maryland family Law Update can access the digital edition archive by your. Lieu of taxes, rebated 95 % of the estate. `` a could... The parties resolution of the estate. ``. ) to help a marginal project be. Million square feet of residential, office and retail space worth over $ billion... Late husbands estate. `` the parties resolution of the estate. `` taking on projects such as East. ; it lists $ 99,000 in a cookie on Wednesday afternoon.. O3-C-18001742 hand-wrote and signed a in. Keeps around must be reported in an undated photograph at a family reception, his political landed! His income sheltered. `` Paterakis children did not act on paterakis family net worth alleged while. Money- making insights straight into your inbox 11, she sought another three-month extension, a... He invested in real estate development, such as Harbor East, which reshaped the most! East developer John Paterakis in an estate inventory, she said allowed by statute private. The transfer of assets into trusts was not a sham, as she argued, money-...
