These cookies do not store any personal information. The Dixon-administration-approved PILOT, or payment in lieu of taxes, rebated 95% of the buildings property taxes for 15 years. In a statement, Comptroller Joan Pratt, who sits on the spending board, said Baltimore was gaining a guaranteed present payment against an unlikely future profit. Here is Forbes ' definitive ranking of the 50 richest families in America. Wednesdays consent judgment dispensed with Roula Paterakis claims: Roula Paterakis and the Paterakis siblings did not respond to requests made through their attorneys for comment. On Oct. 11, she sought another three-month extension, citing a dispute over the estate. Adam Bednar covers real estate and development for The Daily Record. Crumbs being relative, of course, with the Court of Special Appeals sending the issue of the alleged $20 million promise back to the lower court for review. But William Paterakis and Venice Smith have valued their fathers estate at just over $155,000. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. But William Paterakis and Venice Smith say in their newly filed complaint that their fathers estate planning was lawful, and took place before he married his second wife. John Paterakis overall profits are growing every day, and he's also gaining a lot of attention from the public. Mr. A legal claim by the widow of H&S Bakery owner John Paterakis Sr. that his adult children from a prior marriage conspired to prevent her from inheriting $20 million has settled for much less and for no more than the children said their stepmother was entitled to under her agreement with their father. But in Baltimore County's Orphans' Court, Paterakis' will and other documents filed after his death on Oct. 16, 2016 depict someone whose assets were largely held in trusts rather than easily accessed cash. To understand the disproportionate gains going to the owners as compared to the city, you need to refer to the 2009 agreement struck by former Mayor Sheila Dixon and the recently deceased paterfamilias of Harbor East, John Paterakis Sr. Nusinov said Roula Paterakis was not left empty-handed: her husband left her $250,000, a retirement account worth more than $650,000 and the home they shared in Baltimore County. In 2021, she withdrew her lawsuit without the court awarding her any additional assets. In her lawsuit, Roula Paterakis said her husband kept millions of dollars in cash in safes and bank accounts that should be in the estate, and that William Paterakis and Venice Smith had filed false tax returns that didnt account for such assets. An obituary in the Baltimore Sun said John Paterakis Sr. grew his parents' bakery business, H&S Bakery, into one of the largest bakers on the East Coast. The suit over the millions left behind by the H&S Bakery patriarch, filed in 2017, one year after his death, exposed a bitter rift between his second wife, Roula Paterakis, and the six grown children from his first marriage. It is mandatory to procure user consent prior to running these cookies on your website. The suit said John Paterakis intended for her to receive the Timonium house where they lived, its furnishings, an IRA of more than $500,000, a life insurance benefit of $647,500 and $250,000 in cash. All such claims were outright rejected, affirming the trial Courts well-reasoned ruling two years ago. In alleging that John Paterakis was worth $1 billion, his widow cites a figure that far outstrips the last public estimate of his fortune. Adam Bednar Paterakis estate dispute back in court after appellate ruling, Video Series: Off the Record with Sloane Brown, Off the Record with Sloane Brown: Amy Brennan, Hollywood Casino Perryville, Watch: Gov. He turned the family business, H&S Bakery Inc., into one of the city's most prominent. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. That petition claimed William J. Paterakis and Venice Paterakis Smith, two of John Paterakis Sr.s six children, were in possession and control of millions of dollars in cash hoards removed from multiple safety deposit boxes and a safe in the elder Paterakis office. Subscribers to The Daily Record can access the digital edition archive. He and Roula Passon began dating in 1997, she moved in with him in 2001 and they married in 2015, according to her lawsuit. A probate lawyer in Southern Maryland can help you if family members who never accepted you are using probate as a venue in which to antagonize you. According to his wife Roula, with whom he was in a relationship since 2001 whom he married about a year before his death, he also kept millions of dollars in cash in safes located on his real estate properties. The Herald said that made. Get all the top news and sports from the baltimoresun.com. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Her suit described scenes of turmoil before Paterakis death and afterward, of fights breaking out in Harbor East restaurants and the siblings helping themselves to their fathers cash hoards and so-called play money. The siblings fired back, characterizing her as a spendthrift who once charged two Hermes Birkin handbags to her hotel room in Las Vegas and pressured him into a hasty wedding. To purchase a reprint of this article, contact [emailprotected]. His children also accused Roula Paterakis of berating and belittling John Paterakis Sr. In the final month of her husbands life, Roula Paterakis sought to increase her inheritance, the suit alleges. John Paterakis Sr., who died in 2016 at age 87, was an iconic Baltimore businessman and political player. Their expressed concerns about Johns welfare manifest themselves only after he is dead and when they are fighting over his assets, Weiner said. O3-C-18001742. The lawsuit also alleged that William J. Paterakis and Venice Paterakis Smith, two of her husbands six children, were in possession and control of millions of dollars in cash hoards removed from multiple safety deposit boxes and a safe in the elder Paterakis office. Daily Record Legal Affairs Writer The siblings suit says that John Paterakis had some bakery business cash delivered to the house and some or all of these funds may not have been properly reported for tax purposes. But it goes on to allege that Roula Paterakis routinely spent and benefited from this cash and was unjustly enriched by amounts that should have been paid in taxes.. Year: Net Worth: 2019: $11 Million : 2020: $11.5 Million: 2021: 12 Million: 2022: Subscribers to Maryland Family Law Update can access the digital edition archive. 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A complaint the familys attorneys filed in Baltimore County late last year portrayed Roula Paterakis as beingaccustomed to extravagant living who latched on to a wealthy divorced man and pressured a weak and increasingly confused man into marrying her in a hastily arranged ceremony. We express no view as to whether it does or does not, the special appeals court opinion said. Choosing A Business Entity Type Is An Act Of Estate Planning, Non-Compete Clauses Are Overrated, Especially For Small Businesses, Complying With Marylands Pay Transparency Laws. Mayor Pugh ratified the deal without comment yesterday. Charles's annual salary is between $30 . Headquartered in Baltimore, Maryland, we operate as an integrated network of 10 bakeries and 30 distribution centers located strategically across the Eastern seaboard, not including our strategic partners which expands our reach even further. 3/1/23 UPDATE: Following publication of this story, the Board of Estimates deferred action on the price increase. She has filed a claim to one-third of that estate as allowed by statute. His widows attorney, Arnold M. Weiner, would not say why she decided to drop her claims to more of her husbands assets. These items are $647,500 in life insurance, an Individual Retirement Account worth about $650,000, $250,000 cash and the house she co-owned with her husband in Lutherville-Timonium, the childrens attorney said. Washington, District of Columbia 20015. (Fern Shen), Developer Paterakis orchestrates $130,000 in campaign contributions to Sheila Dixon. October 27, 2021, This law suit (sic) appears to be no more than a desperate attempt by Roula to obtain more money than she was left in JPs Will, William Paterakis, chairman of H&S Bakery, wrote in a signed letter to employees soon after his stepmothers complaint was filed. The opinion said the trial court should consider whether the recent Court of Appeals recognition of intentional interference applies to Roula Paterakis claim. She alleged that her husbands children had transferred assets worth millions of dollars into sham trusts to keep it out of his estate. By: Steve Lash From Paris' US$300 million empire and Nicky's Rothschild banking billions to RHOBH sisters Kathy and Kyle Richards - the hotel family's net worths, ranked Friends of Donald Trump and Michael. His influence spread far and wide from his humble beginnings as the son of a Greek immigrant who forsook college to help his dad run a small East Baltimore bakery. (See below the list for the full methodology.) But opting out of some of these cookies may have an effect on your browsing experience. But the siblings suit casts doubt on that document, saying it is not signed or witnessed. Roula Paterakis attorney, Arnold M. Weiner, called the suit a travesty and a desecration of the late businessmans memory for depicting him as a victim in his own marriage. All the accusations were proven to be nothing more than a failed attempt to pressure one of the most respected families in Baltimore.. Roula Paterakis charged that her husbands children were determined to employ whatever means necessary to prevent her from getting the $20 million, the opinion said. At the hurried ceremony, according to the suit, John Paterakis looked extremely sad.. Required fields are marked *. But opting out of some of these cookies may have an effect on your browsing experience. So theyre buying the city out cheaply.. flips of the buildings ownership) during the seven years remaining of the PILOT. Nusinov said Roula Paterakis was not left empty-handed: her husband left her $250,000, a retirement account worth more than $650,000 and the home they shared in Baltimore County. She is still wealthy by most estimates, though; she owns the house where she and John Paterakis lived together, as well as bank accounts worth about $800,000. By: Adam Bednar As John Paterakis health began failing, the suit charges, she became concerned not with his well-being but with ensuring that she got as much of his fortune as possible. In recent months, the family dispute has played out in multiple filings across various courthouses. By clicking Accept, you consent to the use of ALL the cookies. Her lawsuit alleges that the defendants -- the six Paterakis siblings, a son-in-law, a grandson and a business associate -- transferred assets into trusts to keep them out of the estate. 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