(Bloomberg) — 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.
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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.
John Paulson, 67, has a net worth of $5.1 billion, according to the Bloomberg Billionaires Index. In her July 2022 lawsuit,…
