Sunday, October 9, 2022

Larry King Estate Battle: Shawn King Files $100M Lawsuit Against Former Business Managers

by Winston Cho

Shawn King and television personality Larry King. Jonathan Leibson/Getty Images

A battle for the estate of Larry King is getting messier. Shawn King, the broadcaster’s widow, is suing her former business managers, accusing them of stealing money and conspiring to help King’s son Larry King Jr. usurp her as executor of the estate.

King died in January 2021 after being hospitalized for COVID-19. A month later, Larry King Jr. moved to become special administrator of the estate. He pointed to a handwritten amendment by King leaving his assets to his five children. Shawn King challenged the will, arguing it was changed under questionable circumstances. The matter was resolved through a confidential settlement. 

In a lawsuit filed Thursday in Los Angeles Superior Court, Shawn King alleges Blouin & Company colluded with Larry King Jr. to divest her from the estate in addition to illegally transferring millions of dollars to numerous people and entities without her permission. She seeks over $100 million for breach of fiduciary duty, professional negligence and fraud, among several other claims.

“The Blouin Defendants led a fraudulent and malicious conspiracy to steal money from their own client, Mrs. King, and deprive Mrs. King from her rights and interests in the estate of her late husband,” reads the complaint, adding that the firm shared confidential financial information with Larry King Jr. to aid him in his suit.

Shawn King takes issues with Blouin allegedly siding with Larry King Jr. in the fight for King’s estate. She says that the firm breached its fiduciary duty to her when client manager Bob Cinelli, a defendant in the suit, provided a sworn declaration in support of Larry King Jr.’s emergency petition to become administrator of the estate and by providing confidential financial information to him.

The suit claims that Blouin managed secret bank accounts to facilitate transfer of funds directed by Larry King Jr., who allegedly gifted money to several others. Those named in the complaint include Greg Christensen, a longtime former producer of one of King’s TV shows, and Becky Radant, King’s former assistant who allegedly helped Blouin keep financial information away from Shawn King. Radant was allegedly paid $50,000 and Christensen $40,000. They allegedly used the money to buy designer clothes, jewelry and furniture, among other things. 

In further violation of the firm’s fiduciary duties to her, Shawn King also says that Blouin neglected to pay recurring household bills and annual taxes for her, which has resulted in significant late fees and penalties. She claims the firm has refused to turn over financial records.

Blouin didn’t immediately respond to a request for comment.

King’s amendment to his will was written two months after he filed for divorce. It was never finalized, but Larry King Jr. argued that Shawn King shouldn’t be executor of the estate since she and King were actively involved in discussions to separate.

Download PDF

Full Article & Source:
Larry King Estate Battle: Shawn King Files $100M Lawsuit Against Former Business Managers

No comments: