Lawyers for Ed Bosarge want a mysterious group they call the “friends of Marie” and “Marie’s minions” to stop helping her in her search for justice in a Harris County courtroom.
Billionaire Bosarge has been accused of fraudulently moving up to $2.3 billion into secretive South Dakota trusts to hide from his wife of thirty years, Marie, and leaving her in financial ruin.
Court documents show Ed Bosarge has paid more than a million to his team of high-priced and that he has spent more than a million dollars to his much younger Russian girlfriend and her family, paying for expensive clothing, jewelry and cosmetics.
Court documents show that Marie is asking 312th District Court Judge Chip Wells to prohibit Ed Bosarge from spending any more community property money on his girlfriend and other third parties.
Marie Bosarge is unable to afford the legal fight at all after their 30-year marriage. She owes nearly half a million dollars to lawyers and hundreds of thousands more on property taxes she can’t pay on the house she isn’t allowed to sell. She has asked Judge Chip Wells to allow her to sell the house and use some of the money to finance her case.
“I want what’s fair. It’s my money too, you know. That’s what’s so frustrating. We earned that money together while we’ve been married,” Marie Bosarge said.
Ed Bosarge’s use of the South Dakota trusts has exposed a curious tax haven right here in the United States.
Marie’s fight hit a roadblock in South Dakota after lower courts denied her right to get into the secretive trusts. But did she stand a chance with who her attorney was?
Patrick Goetzinger is a lawyer who sits on the Governor’s Trust Task Force and is the registered agent of the South Dakota Trust Association. He is credited with setting up the rules that Marie is having to fight. Why would a guy like Goetzinger help undo the work he spent the last 20 plus years creating?
The planned jury trial is delayed by the COVID pandemic but is sure to be one of the largest divorces to ever play out in Houston courts. Lawyers for Ed Bosarge want the “minions” to stop interfering in the divorce case because they say the negative publicity will mess with the prospective jury pool.
A hearing to discuss the behavior of the minions is set for Thursday, August 6, 2020 at 1:30 PM in the 312th District Court.
The Freedom Over Texas fireworks show will still take place on July 4th but there are fireworks today in the highly publicized divorce fight between Houston billionaire Ed Bosarge and his wife of more than 30 years, Marie.
Dolcefino Consulting has learned Marie Bosarge alerted the Internal Revenue Service to where they can look for Ed’s secret money stashes in a rather unique way.
We have now obtained a part of Marie’s solo tax return from 2017 — the year that Ed Bosarge filed for divorce. The numbers are not so important but at the end of her tax return Marie added “Exhibit A” — a document from financial services powerhouse BDO. The document lists all of the trusts and entities that BDO had discovered that were connected to Ed Bosarge.
Some of the trusts and entities have some pretty unique names. Spotted Leopard. New Ostrich. Big Bird Partners. Black Rhino. Mountain Song. Last Samurai. Dangerous Beauty. More than 150 trusts and entities listed over five pages.
Marie claims that after thirty years of marriage, Ed left her dead broke and that he is hiding billions of dollars in secretive trusts in South Dakota and around the world. The jury trial in the Bosarge divorce is delayed by the Coronavirus pandemic.
In recent documents filed in the divorce case, Marie’s lawyers claim that Ed is refusing to turn over necessary financial records that can help her prove the fraud and other key elements of her case.
The highly publicized Bosarge case may pit Texas courts against South Dakota courts. If a Texas jury finds that Ed committed fraud, will South Dakota allow Marie to get what is hers out of the South Dakota trusts or will South Dakota simply ignore the rulings and the will of courts in Texas? Stay tuned.
Dan Ahlers, the Democratic candidate for U.S. Senate in South Dakota, thinks the state has created a monster when it comes to South Dakota’s secretive $3 trillion trust industry.
“I don’t want South Dakota to be the equivalent of offshore accounts in other countries where people hide their money,” said Dan Ahlers.
“I don’t want South Dakota to be known for that and I don’t think that’s the reputation that the people of South Dakota want.”
Dan Ahlers was commenting on the growing national publicity surrounding the divorce of Ed and Marie Bosarge. Marie’s lawyers claim Ed Bosarge fraudulently hid more than $2 billion in South Dakota trusts in an attempt to cheat her out of community property.
“It’s getting so much traction, so much publicity that we are now going to get a flood of people going ‘Hey, I can shirk my obligations by just moving everything to South Dakota and putting it into a trust,’” Dan Ahlers said.
“I would prefer that we do the right thing, that we respect decisions that are made in other states and that we are not a haven.”
Once the Houston courts reopen, a jury will decide if the Houston billionaire defrauded his wife. A South Dakota court has already rejected Marie Bosarge’s claims. If 312th Family District Court Judge Chip Wells and a Harris County jury find that Ed Bosarge committed fraud and transferred money illegally into the South Dakota trusts, will South Dakota ensure that Marie Bosarge is made whole?
“I don’t think the laws of South Dakota, the State of Texas or anything we might imagine somehow frees him of an obligation that he has undertaken at the time he married Mrs. Bosarge,” said Judge Chips Wells in a February 2020 hearing in Texas.
“Most of the legislators had no intent to allow people to skirt the law in other states. That would never have been our intent,” Dan Ahlers said.
Many of the trust laws were amended while Senator Mike Rounds was South Dakota’s Governor. It is the secrecy of the South Dakota trusts that is worrying Dan Ahlers.
“Open records are not important to him and haven’t been. He had to be taken to court just to get the names of the people who were invited to the pheasant hunt. Those were records that have always been open until he was Governor. These bills came from his Department of Revenue,” Dan Ahlers said.
Dan Ahlers also talked about the tax money being hidden in these South Dakota trusts.
“What’s the economic benefit to South Dakota other than allowing people to hide their money and in some cases potentially break the law in another state. I think that is the question that has to be asked locally,” Ahlers said.
The Rounds campaign did not respond to our request for comment. The members of the Governor’s trust task force have all refused comment.
Billionaire Ed Bosarge has made headlines in CNBC, The Wall Street Journal and international publications for trying to cheat his wife of 30 years out of her fair share. This is the latest release in the Ed and Marie Bosarge divorce unfolding in South Dakota and Houston.
Press release
A veteran South Dakota lawmaker worries the state is choosing money over morality with the growing secrecy and tax evasion of the powerful trust industry.
“Having any publicity, as far as they’re concerned that doesn’t come from them, they don’t want it,” Rep. Susan Wismer said in an interview with Dolcefino Consulting.
Rep. Susan Wismer spoke out on the growing controversy involving a Texas divorce case and how South Dakota law may cheat a wife of 30 years.
Texas billionaire Ed Bosarge moved upwards of $2.3 billion into secretive South Dakota trusts without Marie Bosarge knowing, everything from mansions they own to sponges in the kitchen of their huge Texas mansion.
Now she’s fighting in courts in Houston and Sioux Falls to get her rightful share of the money they made in their 30-year marriage.
“It’s community property. It’s fifty-fifty. I want what’s fair. It’s my money too, you know. That’s what’s so frustrating,” said Marie Bosarge.
CNBC, The Wall Street Journal, even international publications have raised questions about the high-stakes divorce case and the way the rich, like Houston billionaire Ed Bosarge, are using South Dakota tax laws to hide their fortunes.
Last year, the Chief Justice of the South Dakota Supreme Court said $3.2 trillion is now being hidden in South Dakota from taxation, and sometimes even from family members.
“I’m offended that South Dakota’s trust laws are being used by anyone, but rich people to avoid their familial responsibilities that they wouldn’t be able to evade if South Dakota hadn’t created this little trust empire here,” Wismer said.
The Texas judge in the Bosarge case has warned Ed Bosarge’s lawyers that he won’t let South Dakota law deprive a wife of her legal share.
“I don’t think the laws of South Dakota, the State of Texas or anything that we might imagine somehow frees him of an obligation that he has undertaken at the time he married Mrs. Bosarge,” said Judge Clinton Wells in a court hearing before the Coronavirus pandemic shut down the Harris County courthouse.
Ed Bosarge showed up in a wheelchair for his deposition and his lawyers claimed last month he had the Coronavirus, but pictures in a culture magazine showed him at dinner a few nights ago with the young Russian girlfriend he apparently left his wife for.
“I think that if the majority of South Dakota legislators were aware of this some of these more egregious cases it might help us but the brakes on this industry a little bit,” Wismer said.
The shutdown of Houston courts has delayed the trial until later this year, but Wismer hopes the publicity surrounding the case will wake up her colleagues at the State Capitol.
“I think it’s important that the South Dakota legislature become aware of this issue and consider the real time, real life consequences to people around the country of, of their actions,” Wismer said.
“I do not think South Dakotans want their state to be used by every person who wants to cheat his partner out of money, but if Marie loses her fight that is exactly what could happen,” said Wayne Dolcefino, President of Dolcefino Consulting. “No woman would be safe.”
The Wismer interview is part of an investigative report by Dolcefino Consulting called “South Dakota’s Little Secret”.
The video can be seen on Dolcefino Consulting’s Facebook page or www.dolcefino.com.
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