Former Apple CEO sued for allegedly hiding assets

By |2022-04-04T17:03:05+00:0030 Jan 2015|Categories: Family Law|

Former Apple CEO sued for allegedly hiding assets

Once a California divorce is finalized, it is usually safe to assume that both ex-spouses can finally forget all the heartache and pain of separation, and move forward with their lives. However, at times, that is easier said than done. Sometimes, there are family law concerns that may re-emerge and complicate the divorce. This most often happens in high-asset divorce cases.

Every detail and piece of information related to a divorce is significant, particularly if it involves assets, properties and other financial resources. During a divorce, both parties are required to disclose all assets, debts and properties to ensure that the asset distribution will be fair and reasonable for each spouse. Unfortunately, there are spouses who want to have a greater share of the assets and they may hide some of those assets. The subject of hidden marital assets is the recent controversy linked to former Apple CEO, John Sculley. According to reports, the co-founder of Apple is named in a lawsuit, which was filed by his ex-wife, for allegedly hiding over $25 million of his assets when they got divorced in 2011. Scully has an estimated net worth of $200 million.

Reportedly, the wife claimed that Apple’s co-founder lied, submitted a false financial affidavit and failed to fully disclose all of his assets. The court documents stated that the couple’s total marital assets in 2010 were worth $4.8 million. Sculley supposedly failed to disclose his investments in privately held companies and substantial private equity investments. Sculley’s representative denied the allegations, saying that the claim does not have a basis.

Full disclosure of assets is a requirement in every divorce case because the financial implications of a divorce from a spouse can be overwhelming. Hiding assets is a violation of this rule, as well as unethical and illegal. In most cases, hiding assets leads to legal consequences.

Source: Page Six, “Former Apple CEO being sued by ex for ‘hiding millions’ in divorce“, Emily Smith, Jan. 25, 2015

About the Author:

Dorie Anne Rogers - The Law Offices of Dorie A. Rogers, APC
Dorie A. Rogers, a Family Law Specialist, Certified by the State Bar of California, has been an attorney since 1981 with an exclusive family law practice located in Orange County. She is accepting dissolution cases with support and property issues including the use of forensics to ascertain business value, community interests and to establish monthly case flow analysis. Ms. Rogers has substantial experience in high conflict custody litigation involving sophisticated psychological issues. She drafts premarital and postmarital agreement designed to define and establish parties' separate and community property interests. Paternity cases and domestic violence matters are considered part of her practice. Ms. Rogers is a court-approved and court-appointed to represent minor children.Ms. Rogers consults with individuals concerned about entering or exiting a relationship. She advises effective strategies for dissolution or premarital planning. Knowledge is power and good planning affords better results.Specialties: Family Law Specialist, Certified by the State Bar of California
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