An NYC heiress has accused her estranged husband of duping her into giving him $750K of her trust funds which he allegedly spent on his mistress. The 39 year old woman met her 30 year old husband at a tanning salon in 2010, married him in 2011, and soon ended up withdrawing funds to pay his alleged “gambling debts.” At one time she withdrew $150K cash from a bank and placed it in a duffel bag. She alleges that her husband used the funds to take his mistress to Vegas and the Dominican Republic and to purchase gifts from Bloomingdales, Louis Vuitton, and Cartier.
Three quick points:
1. A trust fund that allows a beneficiary to withdraw $150K and place it in a duffel bag is not very effective.
2. A trust beneficiary capable of being duped to the tune of $750K in 2 years needs more restrictive trust terms.
3. In ranking questionable locales for meeting prospective spouses, a tanning salon ranks below AA but only slightly above a rehab facility.