Posted on 12/23/2010 12:55:15 PM PST by mowowie
NEW ORLEANS — Stephen Baldwin has sued fellow actor Kevin Costner over their investments in a device that BP used in trying to clean up the massive Gulf of Mexico oil spill. The federal lawsuit filed in New Orleans on Wednesday by Baldwin and a friend claims Costner and a business partner duped them out of their shares of an $18 million deal for BP to purchase oil-separating centrifuges from a company they formed after the April 20 spill. BP ordered 32 of the centrifuges, which separate oil from water, and deployed a few of the devices on a barge in June. BP capped the well in July and kept any more oil from leaking until the seafloor gusher was permanently sealed in September. Costner’s publicist, Arnold Robinson, declined to comment Thursday on the suit’s allegations. Baldwin and his friend, Spyridon Contogouris, owned shares in Ocean Therapy Solutions, the company that marketed the centrifuges to BP. But Baldwin and his friend claim they were deliberately excluded from a June 8 meeting between Costner, his business partner Patrick Smith and a BP executive, Doug Suttles. At the meeting, the suit says, Suttles agreed to make a $18 million deposit on a $52 million order for the 32 devices. Baldwin and Contogouris said they didn’t know about the deal when, three days later, they agreed to sell their shares of the company for $1.4 million and $500,000, respectively.
(Excerpt) Read more at bostonherald.com ...
What a dirtbag.
No Dances With Wolves for you then. :-)
“Let the truth be told, or the heavens fall!”
Kevin Costner Plans Resort Complex in the Black Hills
Shady deals going back to the 1990s.
He never invented anything?
He's just an actor who bilked his friends out of millions?
Wow! Bummer Dude!
Hell hath no fury like a women...., make that an INVESTOR, feeling scorned!!!
Stephen Baldwin sues Kevin Cost`em over BP centrifuge
If it happened like Baldwin represents, then he most likely will win.
Costner=liberal rip off artist. Surprise, surprise!
I like Kevin Costner... to bad he may be on the list now?
If the story as reported is accurate, it sounds like Costner and his business partner used their insider knowledge of the pending BP deal to buy out other stockholders at a discount.
Perhaps he still has bills to pay for Waterworld?
You seem perfectly willing to take Baldwin's word as the truth here. I think I will wait to see how it plays out before I finalize an opinion.
Hummmmm....guess they won’t be doing any movies together anytime soon....jus’ sayin’.....
Costner is a liberal moonbat.
Baldwin is a conservative living in a land and family teaming with liberal moonbats.
I’ll side with Balwin on this one for the time being.
...Baldwin and his friend claim they were deliberately excluded from a June 8 meeting between Costner, his business partner Patrick Smith and a BP executive, Doug Suttles. ... Suttles agreed to make a $18 million deposit on a $52 million order...
Baldwin and Contogouris said they didn’t know about the deal
...three days later, they agreed to sell their shares of the company for $1.4 million and $500,000, respectively.
Should Costner&Co. face criminal charges?
Roger that. Anbody with $250 can file a lawsuit. I prefer to hear both sides to a story before making a decision.
What’s a little cutthroat profiteering between Hollywood elites?
Same here.
“What’s a little cutthroat profiteering between Hollywood elites?”
Sound almost as unethical as conservatives./s
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