New lawsuit claim: John Angelos and mother ‘plundered’ tens of millions from ailing Orioles owner Peter Angelos

An explosive new court filing alleges Orioles chairman and CEO John Angelos and his mother “plundered” tens of millions of dollars from ailing team owner Peter Angelos, bought a greater share of the franchise and shielded assets from potential creditors.

The allegations were made by Peter Angelos’ younger son, Louis Angelos, in an updated lawsuit against his brother and mother. They depict an alleged scheme that, in the five years since the patriarch fell ill and became incapacitated, John and Georgia Angelos “systematically drained” a bank account that held more than $65 million, leaving about $400,000 as of several months ago.

“Peter’s wife, Georgia, and his son, John, have failed

→ Continue reading at Silicon Valley

More from author

Related posts

Advertisment

Latest posts

Mitt Romney criticizes Fox News and right-wing media for warping Republican Party | CNN Business

Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving...

The Ivy League donor backlash is a PR nightmare, and that’s the point | CNN Business

A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. ...

Moody’s warns it could downgrade Israel’s credit rating because of war with Hamas | CNN Business

CNN  —  Moody’s Investors Service warned Thursday it could downgrade Israel’s credit rating due to the severity of...