Latest News 2010 December Divorce, and Lawsuit, For Richest Dallas Resident

Divorce, and Lawsuit, For Richest Dallas Resident

Andy Beal, a Dallas billionaire, is not only undergoing divorce proceedings, but has also had a civil lawsuit filed against him from his estranged wife Simona Beal, as reported by the Dallas News.

Simona Beal filed a lawsuit in civil court seeking $5 billion in damages and $15 billion in exemplary damages.  Larry Friedman, Simona Beal's attorney, has not returned calls for comment.

The divorce proceedings, under seal in a Dallas court, are now presumed to be contentious and teeming with animosity, because of Simona Beal's latest lawsuit. 

Forbes magazine sets Andy Beal's net worth at $6 billion.  He created a fortune in the banking industry by purchasing distressed assets at bargain prices.  He owns both Plano's Beal Bank and Las Vegas' Beal Bank Nevada.

Andy Beal's lawyers have asked that Simona Beal's allegations against her husband - some of which are of a sexual nature - be placed under seal as well.  Besides the sexual allegations, she has also stated that a Beal employee stole evidence related to the suit from her home and her home's computer.

Andy Beal, 48, has denied all of the allegations.

David Margulies, Andy Beal's spokesman, has had all questions regarding the lawsuit referred to him.  In a prepared statement from Beal, Margulies read, "The false statements in this lawsuit and the shocking insensitivity for the welfare of the children and their mother are reprehensible. Wild claims like this are made only after threats and demands fail.  My wife's lawyer filed this case after we rejected his demands in the divorce case. We will not succumb to blackmail or extortion."

One final mention from Andy Beal in the statement was his contention that, "I have been faithful to my wife throughout our marriage."

Simona Beal, 34, alleges that a Beal employee came to her home and removed data from her computer, and from her desk, that related to the lawsuit.  The employee later admitted that he did take information from her home's computer equipment during a routine visit for service.

The service, and the computers, are allegedly components of Andy Beal's business.

Rod Phelan, Andy Beal's attorney, has invited Friedman to look through what was removed from the Beal home that is now stored in sealed boxes.  Phelan states that Friedman hasn't responded to the offer.  Phelan also contends that the employee did not take anything from the home that was owned by Simona Beal.

Phelan stated that there are prenuptial and postnuptial agreements that will govern the disposition of marital property on the divorce filed only a month before.  He said, "At bottom, this case is a divorce case, the issue is about money."

Beal Bank, Beal Financial Corporation and at least four other bank officers or directors are named in the suit.

The couple has had four children together during their 14-year marriage. 

If you are facing a divorce, and want to protect yourself, your children and your assets, click here to contact a divorce lawyer from our directory.

Categories: Divorce

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