Angelos Family Agrees to Transfer Lawfirm to Conservator

[justD]

According to what I heard earlier and what's in this story, the conservator will only be taking control the lawfirm, not the Orioles.

CBS Baltimore Story

An interesting twist, tho, is the claim by Lou that John and Georgia have looted dad's bank account. 

Good grief. 

According to court documents obtained by our media partners The Baltimore Banner Louis Angelos accuses his older brother John, and mother Georgia, of draining more than $65 million from their father Peter Angelos' bank account.

[Aristotelian]

Bigger question, who keeps $65M sitting around in a bank account? "Plundered" seems like a massive overstatement. John and Georgia have a majority so it's not like they needed Louis's vote. They just bought more shares of the team so it's not like they want out and spent the money.

[AnythingO's]

1 hour ago, Aristotelian said:

Bigger question, who keeps $65M sitting around in a bank account? "Plundered" seems like a massive overstatement. John and Georgia have a majority so it's not like they needed Louis's vote. They just bought more shares of the team so it's not like they want out and spent the money.

Well that is a quite positive on the situation as the account was in Peter's name apparently. After a lawsuit was filed against the law firm a large portion was moved out of the account, we don't know where. John used funds to buy a house in NY and had another 7-figure amount moved to his account. Maybe Georgia did all these transactions, MAYBE, but we know what JA wants us to know which is NOTHING. The more I hear the more I believe Louis IMHO.

[Number5]

1 hour ago, Aristotelian said:

Bigger question, who keeps $65M sitting around in a bank account?

I have a firm policy of never carrying a balance greater than $64 million in any one bank account.  

[Low Country Bird]

I have a source who was close to the situation that has always claimed Louis is the one telling the truth in this dispute.

[spiritof66]

1 hour ago, Number5 said:

I have a firm policy of never carrying a balance greater than $64 million in any one bank account.  

Sounds like a good idea. I never thought of that. But what do you do if you need to make some big payments -- you know, for cable TV or to buy a small island or a couple of yachts? $64 mm might be cutting it close. 

[OsFanSinceThe80s]

1 hour ago, Low Country Bird said:

I have a source who was close to the situation that has always claimed Louis is the one telling the truth in this dispute.

Interesting it's possible, I've never cared for either of the brothers so maybe Louis is in the right.

I just want the team to get sold and out of this dysfunctional family's hands.