Billionaire Griffin Divorce Calls on Execs, Limo Drivers and Photographer to Testify
The 14-month divorce rages on between multi- billionaire Ken Griffin and Anne Dias Griffin, money manager. Now, the couple is calling on drivers, high-finance business appraisers and others to testify or serve up evidence in the drawn out divorce.
Ken Griffin, founder of hedge fund Citadel and the richest person in Illinois, filed for divorce from wife Dias in July 2014. Griffin is asking the court to validate a prenuptial agreement from 2003, an agreement he says she signed after being counseled by lawyers. The Chicago billionaire says he is “currently paying virtually every expense” that is related to the couple’s three children.
Mr. Griffin has also pointed out that his wife’s own net worth is $50 million, and she has already received $40 million through the signed prenuptial agreement.
Dias Griffin, however, is hoping to have the premarital agreement thrown out. She claims she was under duress when she signed. At the time, Mr. Griffin had $1 billion in assets. Dias had just under $1 million in her own assets.
Dias says her husband’s monthly net income has risen to $68 million, and her child support request equates to less than 2% of that. She also argues that under Illinois law, child support for three children should equate to a minimum of 32% of net income.
A trial over the validity of the prenuptial agreement will commence on Monday.
“The problem with prenuptial agreements is that they’re not always iron-clad,” says attorney Kathleen Newman. “But if it can be proven that she was not under duress when she signed, she may not have much of a case.”
The couple is also battling over custody of the children. Mr. Griffin wants joint custody, while his wife is seeking sole custody with visitation for her ex-husband. Dias also has plans to move to New York, and claims her husband is a disinterested father. Mr. Griffin disputes this allegation.
Among the people being called in to testify in the case is Duff & Phelps, which delivered a valuation of Citadel from November 2001 through July 2003. The valuation could have been included in the prenuptial agreement’s net worth statement, according to court filings. Dias argues that the firm’s records might prove that Griffin did not fully disclose his finances when the prenup was signed.
Duff & Phelps managing director Bob Bartell has been subpoenaed. The subpoena also asks for information regarding Citadel’s performance during those years.
Tim Cummins of Stout Risius Ross, a valuation and financial services consulting firm, has been asked to supply records related to his services to Dias Griffin and his valuation of Citadel.
Several others have been called in to testify, including limo drivers and a photographer who was in charge of taking the couple’s wedding photos. Travel records have also been subpoenaed, including flight destinations, traveling companions and other related information.
Moishe’s Mini Storage was also dragged into the case briefly, as the facility held a “key piece” of evidence. The storage unit held a bedpost that was pulled off or fell off during an argument over the prenuptial agreement in 2003. The subpoena has since been withdrawn.
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