Woman claims billionaire ex-husband hid assets

On Jan. 26, the ex-wife of a former Texas billionaire filed a lawsuit claiming that she was not awarded her fair share of the community property in the original divorce settlement. She also sued her ex-husband on Nov. 6 for failing to make the annual $500,000 alimony payments that she was awarded in July 1993. The couple was divorced in 1991 after being married for 13 years.

According to the woman’s latest lawsuit, her ex-husband was allowed to keep almost all of the stock that he had acquired during their marriage. She also claims that a large majority of that stock was then transferred to overseas trusts where he was later found to be hiding additional stock. In 2010, the U.S. Securities and Exchange Commission sued the man for making 700 hidden transactions using offshore trusts.

The woman’s lawsuit was filed in federal bankruptcy court after her ex-husband sought Chapter 11 bankruptcy protection. She claims that the SEC lawsuit concerning undisclosed stock trades demonstrates that she was a victim of her ex-husband’s unlawful financial dealings. The woman is seeking half of her ex-husband’s undisclosed community property as determined by the bankruptcy court.

Although a judge may order alimony in a divorce settlement, the recipient spouse may require legal assistance to enforce the order later on. If a spouse is not being paid the alimony that they were awarded in a divorce, an attorney may be able to help them to take steps to secure the payments that they are entitled to receive. An attorney may also help an individual who believes that their ex-spouse has hidden assets that were not disclosed during divorce proceedings.