Stephen Baldwin sues Kevin Costner over BP centrifuge

[Kadie]

Stephen Baldwin sues Costner over BP centrifuge
By MICHAEL KUNZELMAN, Associated Press – 44 mins ago

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.

snip...
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.

more...
http://news.yahoo.com/s/ap/20101223/ap_on_en_mo/us_people_costner_lawsuit_3

[hlthe2b]

1. LOL.... Now Stephen... Jesus wouldn't like to see your rampant greed...

:rofl:

[Motown_Johnny]

2. I guess God didn't want Stephen Baldwin to have that money

otherwise he would have spoken to Stephen and clued him in.

[WilliamPitt]

3. Derp.

[Kadie]

6. LOL

Oh, that poor kitties eyes.

:hi:

[Hannah Bell]

4. oh those hollywood philanthropists -- i thought there was no profit involved in the bp deal, it was

purely to save the gulf?

guess i was wrong.

[Motown_Johnny]

5. ROFL, I just did a search for Spyridon Contogouris

and it turns out he and Stephen are the top two officers listed for God Like Productions who want to make a movie about the BP oil spill.

This site is hilarious, their first "news" story links to scientists finding evidence for mental time travel. They also have one about Gov. Richardson going rogue and making some deal with North Korea.

http://www.godlikeproductions.com/forum1/message1105825/pg1

[formercia]

8. Quite the Wheeler Dealers

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aaza4TiCAtxE

[Motown_Johnny]

15. arrested on federal charges of embezzling money

worked for 6 hedge funds....


Then the trouble started. According to Manios's complaint, Contogouris withheld more than half of the $39.5 million he got for the Houston properties





OK, Stephen. We know Jesus hung out with tax collectors. That doesn't mean you should have multiple business dealings with an embezzler.

[bighart]

7. Just so I am clear

Insider trading is ok if we like the guy doing it but not the guy being taken advantage of. Got it.

[Bandit]

13. Who posted that insider trading was all right?

Just so I am clear, and you aren't putting words in people's mouths?

[EOTE]

9. I had a bad case of Spyridon Contogouris last month.

Didn't see the outside of a bathroom for days.

[hugo_from_TN]

10. If true, he'll deservedly win the lawsuit.

[toastbutter]

17. if true AND he can prove it

you mean. It's one thing to be right. It's another to be able to prove it in a civil trial. Fwiw, I have had 3 civil trials in the last 7 yrs.

[valerief]

11. Bwahahahahaha! Stephen Baldwin. Bwahahahahaha!

:rofl:

[Forkboy]

12. That headline just made my brain explode.

[RUMMYisFROSTED]

14. ...dances with wolves...

It's all the rage.

[Bonhomme Richard]

16. 1.625 million each? That sounds crazy to me.

And I am in the filtration business...evidently not the right kind. I swear I must have zigged in life when I should have zagged.

[DainBramaged]

18. OMG this belongs in Entertainment OMG OMG

:popcorn: