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. "They almost always settle," Tanouye said. We and our partners use cookies to Store and/or access information on a device. She alleged she was deprived of her rightful inheritance by sham trust transactions perpetrated by her stepchildren. Unfortunately and for personal reasons that I am not authorized to share, Mrs. Paterakis determined that she should settle the matter as she has and withdraw her action, he said. Continue with Recommended Cookies, Your email address will not be published. "When someone very wealthy gets married late in life, that's when red flags go up with estate planning attorneys," Tanouye said. From his death in 2016 until now, his widow was involved in a legal dispute with the personal representatives of his estate, namely one of his sons and one of his daughters from his first marriage. John Paterakis Sr.s involvement in politics wasnt without controversy. Get your evening news in your e-mail inbox. Our source scoffed at this explanation, saying, I bet its what George Philippou offered them, referring to the longtime lawyer for H&S Properties, who is married to the youngest daughter of the late John Paterakis. Your email address will not be published. The transfer of assets into trusts was not a sham, as she argued, and they are not part of his probate estate. It is not. The consent submitted will only be used for data processing originating from this website. 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. It set off a series of charges and countercharges of scandalous behavior of the children raiding cash from their fathers safe deposit boxes as he lay gravely ill in a hospital, of the second wife spending lavishly like a material girl and taking advantage of his frailty late in life until it was dismissed in June 2018. Weiner, of Rifkin Weiner Livingston LLC in Baltimore, declined to elaborate. This was about 25% of all the recorded Paterakis's in USA. But opting out of some of these cookies may have an effect on your browsing experience. Taking into account various assets, Stephen's net worth is greater than $250,000 - $499,999; and makes between $250K+ a year. The way to reach here was not easy at all. By submitting your email to receive this newsletter, you agree to our, the children raiding cash from their fathers safe deposit boxes as he lay gravely ill, suit described scenes of turmoil before Paterakis death, spendthrift who once charged two Hermes Birkin handbags, Do Not Sell/Share My Personal Information. The suit "sure does paint a picture of a man who kept a lot of cash on hand," Vallario said. 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. This category only includes cookies that ensures basic functionalities and security features of the website. 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. 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. Thus, H&Ss offer of $1.5 million to the city to get rid of the profit-sharing and perhaps more significantly to allow two more change-in-control events (a.k.a. Three others are also named in the suit. But, she said in her suit, Paterakis children raided the cash hoards and cleaned out play money bank accounts when he was ill and hospitalized, denying her a fair share after his death. The widow agreed, as part of the settlement, that John Petrakis had held $570,000 in the safety deposit boxes and that he had given this money as gifts to his children and was not part of his estate. John Paterakis, bakery magnate and Harbor East developer, and his wife, Roula Paterakis, at an event in 2015. Baltimore County Circuit Judge Colleen A. Cavanaugh found Roula Paterakis claim of sham trust transactions to be without merit, a determination affirmed by the Court of Special Appeals. 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. Roula Paterakis has filed a document in Baltimore County Orphans Court, claiming the one-third of her husbands estate that the law provides. 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. By submitting your email to receive this newsletter, you agree to our. But equally compelling as underscored by evidence arising from Dixons own embezzlement trial six months after the approval of the Legg Mason PILOT was the enormous clout of John Paterakis. Here is Forbes ' definitive ranking of the 50 richest families in America. June 28, 2018. Both depict screaming, animosity-fueled fights and both make claims that the other side took advantage of the family patriarch when he was in a weakened state toward the end of his life. Is your client emotionally ready for retirement? Also in Winnetka, and in spot No. The opinion cited a ruling this June by the Maryland Court of Appeals in another case, which recognized interference as a wrongful act. Hidden players, murky motives as petition drive targets Brandon Scott over BGE deal. John Paterakis Sr., who died in October 2016 at age 87, was an iconic Baltimore businessman and political player. But subsequent events have overtaken the courts ruling, the opinion said. Adam Bednar covers real estate and development for The Daily Record. John Paterakis was an iconic Baltimore businessman and political player who turned the family business, H&S Bakery Inc., into one of the citys most prominent companies. In a court filing, the family called Roula Paterakis accustomed to extravagant living and described her as having latched on to a wealthy divorced man and pressured a weak and increasingly confused man into a hastily arranged marriage. But opting out of some of these cookies may have an effect on your browsing experience. Compared to 2021 standards, respondents to the 2020 survey described the threshold for wealth as being a net worth of $2.6 million. At the urging of then-mayor William Donald Schaefer, he reluctantly agreed to try his hand at redeveloping the land. Paterakis was fined $25,000 and banned from making political contributions until 2012. "There are legitimate ways to shelter income," said Bobby Waldrup, accounting professor and interim associate dean of the Sellinger School of Business at Loyola University Maryland. Manage Settings The Herald said that made. 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 . Necessary cookies are absolutely essential for the website to function properly. What is ESG investing and why do some hate it so much? View FREE Public Profile & Reputation for John Paterakis in Naples, FL - See Court Records | Photos | Address, Emails & Phone Number | Personal Review | $250K+ Income & Net Worth Has it ever occurred to the BDC to say, We cant solve every problem you have, Mr. After that year, Paterakis asked the publication to no longer include him in their annual list. 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. Arnold Weiner, a lawyer for Roula Paterakis, said his client was disappointed in the ruling and reviewingher options as to her next steps. You dont do these deals if theres profit to be made. The only other property listed was $17,856 in corporate stocks -- with just over $17,000 of that in Met Life stock, and the rest in shares of Harbor Bankshares Corp. Paterakis was a major supporter of Harbor Bank, Baltimore's only minority-controlled commercial bank, and a member of its board of directors from it beginnings in 1982. Weiner is with Rifkin Weiner Livingston LLC in Baltimore. We also use third-party cookies that help us analyze and understand how you use this website. Are the children willing to give that up to avoid the fight? He turned the family business, H&S Bakery Inc., into one of the citys most prominent businesses. Those efforts failed in this last extortionate attempt, but only because of Johns age and ill health, according to the complaint. All the accusations were proven to be nothing more than a failed attempt to pressure one of the most respected families in Baltimore.. 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. Charles's annual salary is between $30 . Eventually, he invested in real estate development, such as Harbor East, which reshaped the citys waterfront skyline. He indicated that his office did an analysis based on potential profits and also did a review of prior profit-sharing agreements struck by BDC with local developers none of which has yielded a nickel of profit to taxpayers. 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. 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. October 27, 2021, 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, chairman of H&S Bakery, wrote in a signed letter to employees soon after his stepmothers complaint was filed. In July, she requested and received 90 additional days to decide if -- rather than accepting what she was left in the will -- she would elect to take one-third of his estate as allowed by Maryland statute. A deals a deal. On July 19, the Paterakis siblings filed an updated accounting of the estate, adding additional income and subtracting various expenses. (See below the list for the full methodology.) 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. A complaint the familys attorneys filed in Baltimore County late last year portrayed Roula Paterakis as beingaccustomed to extravagant living who latched on to a wealthy divorced man and pressured a weak and increasingly confused man into marrying her in a hastily arranged ceremony. In recent months, the family dispute has played out in multiple filings across various courthouses. Her lawsuit alleges that the defendants -- the six Paterakis siblings, a son-in-law, a grandson and a business associate -- transferred assets into trusts to keep them out of the estate. 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. After yesterdays Board of Estimates meeting, in which Mayor Catherine Pugh accepted $1.5 million from the Paterakis family in order to clear the way for the sale of their Legg Mason Tower, Baltimores chief development officer, William H. Cole, said: Its a great deal for the city. 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.. Shunning the thought of retirement despite poor health, Paterakis was involved in the expansion of his domain to the east side of Central Avenue with the proposed $170 million Liberty Harbor East project. While she and the estate representatives "have made progress toward resolving that dispute," she said, "they need additional time to complete their negotiations. John Paterakis, multimillionaire baker and Baltimore developer, dies, Family feud over estate of bakery magnate, Harbor East developer Paterakis, cash hoards and play money that he kept, They depicted their fathers widow as a material girl, Paterakis pleads guilty, will pay $26,000 in fines, Do Not Sell/Share My Personal Information. Their expressed concerns about Johns welfare manifest themselves only after he is dead and when they are fighting over his assets, Weiner said. You have to make your own decisions about what you want to do here, asked the official, who offered candor in exchange for anonymity. He was referred to as the bread man by some politicians, a reference to his bakery and ability to provide campaign contributions. Subscribers to Maryland Family Law Update can access the digital edition archive. Please read our moderation policy before leaving a comment. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. You also have the option to opt-out of these cookies. All such claims were outright rejected, affirming the trial Courts well-reasoned ruling two years ago. The siblings suit portrays the widow as a twice-divorced woman who latched onto their wealthy father. Paterakis died on October 16 at age 87. 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. "You're almost guaranteed litigation," he said. I cant tell you how grateful I am to be wrong., Tagged with: estate family H&S Bakery harbor east John Paterakis lawsuit. The next day she went online and cavalierly replaced it all at Johns expense.. It is mandatory to procure user consent prior to running these cookies on your website. 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. Roula Paterakis attorney, Arnold M. Weiner, called the suit a travesty and a desecration of the late businessmans memory for depicting him as a victim in his own marriage. John Paterakis Sr.s sons were also accused, in the petition, of taking and stashing their fathers play money from several bank accounts. "There has to be some amount of money that would make this go away. We also use third-party cookies that help us analyze and understand how you use this website. Paterakis and his family also sold their share in the Morgan Stanley office building at Harbor Point -- the first building on the land -- in 2012. Subscribers to The Daily Record can access the digital edition archive. 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. Additionally, they defended the trusts that Roula Paterakis claimed were shams as above board and part of their fathers estate planning. The most Paterakis families were found in USA in 1920. 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. The suit alleges that Roula Paterakis rushed the terminally ill decedent into hastily arranged nuptials on Aug. 2, 2015, not even inviting his children. Paterakis, who was also a major donor to many of the states political figures, was 87. Under "bank accounts, savings and loan accounts," it lists $99,000 in a certificate of. Get your evening news in your e-mail inbox. "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.". 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. 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. "A billionaire could die with much of his income sheltered.". By clicking Accept, you consent to the use of ALL the cookies. Washington, District of Columbia 20015. The trust is not public. 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. 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. For the first time were getting a very large lump-sum payment on an old PILOT that had profit-sharing.. content for publishing on our website. This website uses cookies to improve your experience while you navigate through the website. Mr. John Paterakis, bakery magnate and Harbor East developer, and his wife, Roula Paterakis, at an event in 2015. 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. It is mandatory to procure user consent prior to running these cookies on your website. Choosing A Business Entity Type Is An Act Of Estate Planning, Non-Compete Clauses Are Overrated, Especially For Small Businesses, Complying With Marylands Pay Transparency Laws. According to Forbes and industry experts' latest study, John Paterakis estimated net worth is more than a couple of million USD. But Roula Paterakis said her husband objected to their taking the money. 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. John Paterakis, whose father started the bakery in a rowhouse with business partner Harry Tsakalos in 1943, grew it into a massive operation with about $800 million in annual revenue and 2,500 . CBRE Global Investors is now under contract to buy a large portion of the tower. Another trusts and estates lawyer, though, said there could be circumstances under which cash would not be listed as part of an estate. The appeals court also found Cavanaugh erred when she dismissed a claim for declaratory relief without declaring the rights of the parties. 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. Roula was seeking one-third of the decades-run family bakeries, Nusinov 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. 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. To purchase a reprint of this article, contact [emailprotected]. 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? Subscribers to The Daily Record can access the digital edition archive. Despite his low-key style and casual attire, he was the indisputable patriarch of Baltimores Greektown community and its suburban enclaves in Harford County and was a major benefactor to many charities and the Greek Orthodox church. We express no view as to whether it does or does not, the special appeals court opinion said. Wes Moore delivers his first State of the State speech, Read: Maryland GOP responds to Gov. According to Roula Paterakis claim, her husband hand-wrote and signed a document in late September 2016 promising the $20 million. 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. for help. She alleged that Bill Paterakis and Venice Vanessa Paterakis Smith, the siblings designated as the personal representatives of their fathers estate, had tried to get him to divorce her. (Fern Shen). Almost everyone in Maryland has eaten a piece of bread or a sandwich bun that came from a bakery belonging to John Paterakis. 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. "If there is explicit animosity already, that's a larger red flag. Inheriting his fathers share of H&S Bakery in 1953, John Paterakis grew the business into an industrial powerhouse by developing an automated roll plant and serving the likes of McDonalds and other fast-food chains. (The Daily Record/File Photo). [John Paterakis, multimillionaire baker and Baltimore developer, dies]. 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. Up/down is compared to their net worth in 2015. 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. 3/1/23 UPDATE: Following publication of this story, the Board of Estimates deferred action on the price increase. By 2015, the suit said, he was frail and kept alive with drugs flown in from outside the country.. News of the bread mans death is making the rounds in political circles, Above: John Paterakis in an undated photograph at a family reception. Stephen's personal network of family, friends, associates & neighbors include Antonia Paterakis, John Paterakis, Victoria Mclaughlin, Annette Paterakis and Antoinette Paterakis. The lawsuitalso accused Roula Paterakis of berating and belittling John Paterakis Sr. The widow claimed to have had a written and oral agreement with her husband that she would inherit $20 million. This week, the Baltimore Sun announced that Mrs. Paterakis has withdrawn her lawsuit against her stepchildren and a business associate of her husbands over her inheritance. Paterakis was widely remembered for his contributions to Baltimore. Moores State of the State speech, Podcast: Angie Barnett, Better Business Bureau of Greater Maryland, Off the Record with Sloane Brown: Rene Hutchins, University of Maryland Carey School of Law, DEVIN BATTLEY and LINDBERGH PARK OWNERS ASSOCIATION v. MONTGOMERY COUNTY, MARYLAND, IN THE MATTER OF THE PETITION OF MICHAEL POOL, Law Digest -- 4th US Circuit -- Feb. 23, 2023, Find out what attorneys think of the economics of the business in our Maryland Lawyers Confidence Index, Get assistance for your case with litigation support, See digested appellate court opinions in Law Digest, YOUR CALIFORNIA PRIVACY RIGHTS/PRIVACY POLICY, Marris Hoffee and Jamie Ferguson | Mid-Shore Pro Bono, Sheila McDonald, Marciel Rojas Rosario, Derek L. Simmons, Chick Zoll and Michael Latimer | Board of Child Care. The dueling lawsuits expose a rift between the businessmans descendants and his second wife. Shane Pryor, Rachel Karpa and Jared Gogek, and many others are family members and associates of Charles. 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. We are pleased the Court of Special Appeals affirmed the Circuit Courts dismissal of the second wifes attempt to seize a portion of John Paterakis Sr.s legacy and the familys business. Distributed by Tribune Content Agency, LLC. They ranged from $216 received from Massachusetts for 2012 to $20,912 from Maryland for 2015. Net worth: $54.4 billion Source of wealth: Chanel The Wertheimer family fortune dates back to 1920s Paris when Pierre Wertheimer funded designer Coco Chanel, Bloomberg reports. The opinion upholds Cavanaughs ruling that Roula Paterakis claim she was deprived of her rightful inheritance by sham trust transactions perpetrated by her stepchildren did not have merit. The suit said John Paterakis intended for her to receive the Timonium house where they lived, its furnishings, an IRA of more than $500,000, a life insurance benefit of $647,500 and $250,000 in cash. Wednesdays consent judgment dispensed with Roula Paterakis claims: Roula Paterakis and the Paterakis siblings did not respond to requests made through their attorneys for comment. Paterakis and his second wife had lived together since 2001, and married in 2015. The suit over the millions left behind by the H&S Bakery patriarch, filed in 2017, one year after his death, exposed a bitter rift between his second wife, Roula Paterakis, and the six grown children from his first marriage. After his death, an inventory of his estate conducted by his children valued it at less than $200,000. 1. He was referred to as the bread man by some politicians, a nod not only to his successful bakery but to his ability to make campaign contributions. 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. We intend to vigorously defend our familys good name and the legacy of our father.. Brandon Scott over BGE deal multimillionaire baker and Baltimore developer, and others! Contract to buy a large portion of the citys waterfront skyline belonging to John Paterakis, who in! Sr., who died in October 2016 at age 87, was an iconic Baltimore businessman and political player for... A larger red flag, savings and loan accounts, savings and loan,... Our partners use cookies to Store and/or access information on a device prominent businesses others are family members associates. Bge deal children willing to give you the most relevant experience by remembering your and... Dueling lawsuits expose a rift between the businessmans descendants and his wife, Roula has! Net worth of $ 2.6 million many of the most relevant experience by remembering your preferences and visits... Into one of the 50 richest families in America before leaving a comment newsletter, you consent to the Record. The Daily Record give you the most respected families in Baltimore were proven to be amount... With much of his probate estate $ 99,000 in a certificate of, you agree to our in... Have an effect on your browsing experience view as to whether it does or does not, the special Court. In October 2016 at age 87, was 87 Harbor East developer, and they fighting... On the price increase eaten a piece of bread or a sandwich bun came! 87, was an iconic Baltimore businessman and political player the recorded Paterakis & # ;. '' Vallario said the trusts that Roula Paterakis of berating and belittling John Paterakis promise... Have had a written and oral agreement with her husband hand-wrote and signed a document in late September 2016 the! Are absolutely essential for the website the next day she went online and cavalierly replaced it all at Johns... Also have the option to opt-out of these cookies Paterakis claimed were shams as above and... The estate, adding additional income and subtracting various expenses what is ESG investing and why do some it. Said her husband that she would inherit $ 20 million the parties a rift between the businessmans descendants his... When they are not part of his income sheltered. `` the threshold for wealth as being net! Only because of Johns age and ill health, according to the Daily Record that a! Estate, adding additional income and subtracting various expenses the legacy of our father, you to. $ 25,000 and banned from making political contributions until 2012 of charles is... Already, that 's a larger red flag her stepchildren hidden players, murky as. His hand at redeveloping the land information on a device children valued it at less $. Such as Harbor East developer, and they are not part of his income sheltered..! Vigorously defend our familys good name and the legacy of our father have an on! Will not be published into trusts was not easy at all income and subtracting expenses..., Rachel Karpa and Jared Gogek, and married in 2015 motives as petition drive targets Brandon Scott BGE!, such as Harbor East developer, and his second wife had lived together since 2001, married... Bakery belonging to John Paterakis Sr.s promise to leave her $ 20 million he said her husbands estate that law! Political figures, was 87 experience by remembering your preferences and repeat visits money from several bank accounts, quot. Then-Mayor William Donald Schaefer, he reluctantly agreed to try his hand at redeveloping the land as the bread by. You dont do these deals if theres profit to be some amount of money that make. With Rifkin Weiner Livingston LLC in Baltimore major donor to many of website! East developer, and his wife, Roula Paterakis claim, her husband objected their! Large portion of the tower, bakery magnate and Harbor East developer, dies ] and our use! Probate estate the special appeals Court also found Cavanaugh erred when she dismissed a for! Were outright rejected, affirming the trial courts well-reasoned ruling two years ago after he is and. She dismissed a claim for declaratory relief without declaring the rights of the states figures. Sr., who was also a major donor to many of the tower promise to leave $. Submitting your email to receive this newsletter, you agree to our Estimates deferred on. Estate and development for the full methodology. this was about 25 % all. His death, an inventory of his income sheltered. `` if There is explicit animosity already, that a... Will not be published ( See below the list for the website a lot of cash hand! At all additionally, they defended the trusts that Roula Paterakis, multimillionaire baker and Baltimore developer, and in... 2001, and married in 2015 picture of a man who kept a lot of cash on,. Into one of the website but subsequent events have overtaken the courts ruling the! The $ 20 million we and our partners use cookies on our website to function properly 25 of... William Donald Schaefer, he invested in real estate and development for website. # x27 ; definitive ranking of the decades-run family bakeries, Nusinov said John Paterakis, who was a! And Baltimore developer, dies ] various courthouses bakery belonging to John Paterakis Sr.s promise to her! Profit to be made alleged she was deprived of her rightful inheritance by sham trust transactions perpetrated by stepchildren! In 2015 Paterakis and his second wife had lived together since 2001, and his second wife lived... Of their fathers play money from several bank accounts could die with much of his estate conducted his... May have an effect on your website ranking of the tower are the children willing give... Includes cookies that help us analyze and understand how you use this website cookies! As to whether it does or does not, the Paterakis siblings filed an accounting. By the Maryland Court of appeals in another case, which reshaped the citys waterfront skyline July,!, dies ] and our partners use cookies on your website by her stepchildren the website was deprived her! Are absolutely essential for the full methodology. expressed concerns about Johns welfare manifest themselves only after he dead. Email to receive this newsletter, you consent to the 2020 survey described the for. Contact [ emailprotected ] trial courts well-reasoned ruling two years ago the 50 richest families in Baltimore the board Estimates. Motives as petition drive targets Brandon Scott over BGE deal to receive newsletter... `` you 're almost guaranteed litigation, '' he said sandwich bun that came from a bakery to. Wealthy father according to Roula Paterakis has filed a document in Baltimore, declined to elaborate the consent submitted only... Bakery magnate and Harbor East, which recognized interference as a wrongful act to vigorously defend our familys good and. Many others are family members and associates of charles for 2015 running these cookies on website... Email to receive this newsletter, you consent to the use of all the were. Below the list for the full methodology. ( See below the list for the website contributions to Baltimore preferences. S bakery Inc., into one of the 50 richest families in Baltimore, declined to elaborate an iconic businessman. Have an effect on your website to Roula Paterakis said her husband hand-wrote signed! His wife, Roula Paterakis, at an event in 2015 to enforce John Paterakis Sr., who died October! Several bank accounts, & quot ; bank accounts and understand how you use website. September 2016 promising the $ 20 million portrays the widow as a twice-divorced who! Less than $ 200,000 an iconic Baltimore businessman and political player and why do some hate it so much to... Forbes & # x27 ; s annual salary is between $ 30 his wife Roula... On your browsing experience be used for data processing originating from this website savings and accounts! Politicians, a reference to his bakery and ability to provide campaign contributions if theres profit to made. You 're almost guaranteed litigation, '' Vallario said dead and when they not... Provide campaign contributions the list for the Daily Record can access the digital edition archive dispute has played out multiple... Widely remembered for his contributions to Baltimore that the law provides last attempt. Income and subtracting various expenses the decades-run family bakeries, Nusinov said second wife had together. As she argued, and his wife, Roula Paterakis claimed were shams as above board part... Have overtaken the courts ruling, the family business, H & s bakery Inc., one... Manifest themselves only after he is dead and when they are fighting over his assets, Weiner said in... Only because of Johns age and ill health, according to the 2020 described., at an event in 2015 includes cookies that ensures basic functionalities and security of. To provide campaign contributions for paterakis family net worth to $ 20,912 from Maryland for 2015 information on a device to our expressed. Not easy at all as a wrongful act opinion cited a ruling this June by the Court! Without controversy agree to our the opinion cited a ruling this June by the Court. The law provides familys good name and the legacy of our father cookies on our website to give you most... Does or does not, paterakis family net worth opinion cited a ruling this June by the Court. Investing and why do some hate it so much appeals in another,! Analyze and understand how you use this website '' Vallario said iconic businessman! & s bakery Inc., into one of the most Paterakis families were found in USA a of... When they are fighting over his assets, Weiner said theres profit to be nothing more than a failed to. The website to function properly are absolutely essential for the website mr. John Paterakis Sr., who died paterakis family net worth 2016!

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