Hedge Fund Billionaire Paulson’s Divorce Fight Escalates Over ‘Sham’ Luxury Condo
- Wife makes claim in divorce fight over billions in assets
- Jenica Paulson alleges he’s hiding assets, which he denies
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Hedge fund billionaire John Paulson used a “sham” purchase of a luxury penthouse apartment in Puerto Rico to improperly enrich himself by $10 million at the expense of his family trust, his wife claims in a suit accusing him of hiding billions of dollars in assets during their divorce.
Jenica Paulson claimed her husband agreed in 2020 to buy the apartment at the St. Regis Bahia Beach Resort for an artificially low price of $5.6 million from a 2009 family trust, which owned the property. The penthouse is currently worth $15 million, she said in an updated complaint, filed in state court in Manhattan Wednesday. The transaction effectively allowed him to remove $10 million from the trust that he wasn’t entitled to, she said.