Steel Partners CEO Sues Ex-Spear Leeds Chief Over Support
Andrew Cader, former head of Goldman Sachs Group Inc. (GS)’s Spear, Leeds & Kellogg LP, was sued by Steel Partners LLC Chairman and Chief Executive Officer Warren Lichtenstein over claims he helped wrongly inflate child support payments for the mother of Lichtenstein’s 5-year-old daughter.
Cader, 54, part owner of the Tampa Bay Rays Major League Baseball team, is in a relationship with the hedge fund chief’s ex-girlfriend, British socialite Annabelle Bond, according to a complaint filed yesterday in Manhattan federal court. Bond is the fourth British woman to climb Mount Everest and daughter of former HSBC Holdings Plc (HSBA) Chairman Sir John Bond, according to the filing.
Lichtenstein, 47, alleged Bond improperly took their daughter to Hong Kong, where she obtained a court judgment directing him to pay Bond HK$321,667 ($41,428) in monthly child support, school, tutoring, medical, travel and other expenses, which Lichtenstein said is the largest such order ever issued by the court.
Lichtenstein claimed that, since 2011, Cader has given Bond $3.5 million in cash and paid $26,000 a month in rent for her home in Hong Kong’s Strawberry Hill development. He alleged that Bond, who isn’t named in the lawsuit, misrepresented the money as loans rather than gifts.
It was Bond’s and Cader’s “common objective to cause the Hong Kong court to order Mr. Lichtenstein to make payments that are greater than they would have been,” his lawyers said in court papers. Bond has been “spending millions of dollars of their money to support her lavish lifestyle.”
The suit includes claims of conspiracy to commit fraud and a claim of aiding and abetting. Lichtenstein, who is seeking at least $200,000 and attorney’s fees, said he and Bond ended their relationship “amicably” in 2007.
Calls to Cader’s home in Manhattan weren’t answered. Michael DuVally, a spokesman for Goldman Sachs, declined to comment. Bond didn’t immediately respond to an e-mail to her website yesterday seeking comment on the filing.
The case is Lichtenstein v. Cader, 13-cv-02690, U.S. District Court, Southern District of New York (Manhattan).
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