A Baltimore County Circuit Court judge has dismissed charges made by the second wife of the late John Paterakis that his children diverted millions of dollars of his fortune to deprive her of her “rightful” inheritance.
Judge Colleen Cavanaugh dismissed five of seven charges made by Roula Paterakis against her husband’s six children from his first marriage and others, the bulk of an explosive lawsuit the widow had filed in November over an estate she estimated to be worth $1 billion.
Paterakis, who turned his immigrant father’s rowhouse bakery into a huge commercial operation and developed the Harbor East neighborhood, died in October 2016.
The widow of John Paterakis is suing his children, alleging in a lawsuit she filed Monday that they concealed millions of dollars of the bakery magnate and developer’s estimated $1 billion fortune to deny her what she’s entitled to.
His widow had charged that Paterakis’ children took millions of dollars in “cash hoards” that their father kept in safes and elsewhere, and transferred other sums into trusts, as a way of keeping the money from her. At a hearing on Wednesday, Cavanaugh dismissed counts that included unjust enrichment and interference with inheritance.
“We are thrilled with the court’s thorough and well-reasoned decision,” said attorney Jeffrey E. Nusinov, who represents two of Paterakis’ children, William J. Paterakis and Venice “Vanessa” Smith. “All the accusations of theft and fraud, which were brought in a failed attempt to pressure one of the most respected families in Baltimore, have been completely dismissed.
The children of bakery magnate and developer John Paterakis have counter-sued his second wife, saying her extravagant spending rather than their management of his estate is why she is inheriting less than she would like.