A former professional singer turned interior designer is trying to undo a quick divorce from her wealthy ex-husband because she claims he misled her about the value of his energy company before selling it for millions.
According to a lawsuit Jamie Beckwith, 42, filed this week, Larry Beckwith handpicked an attorney for his then-spouse to hire and then illegally paid a $100,000 bonus to speed the process along so that the two would be officially separated before he sold his ethanol company for $100 million.
The 14-count lawsuit alleges fraud, breach of contract, recklessness and other charges.
At the time of the divorce, Larry Beckwith, 52, owned a majority stake in Eco-Energy, a Cool Springs biofuel company that says it was doing $3 billion in yearly sales before the sale. In which during their 16 years of marriage, Mrs. Beckwith had no knowledge of the finances of the business.
Anticipating the deal with the Brazilian company, Larry Beckwith‘s company was about to be worth much more than he acknowledged at the time of the divorce, the suit says. Before the divorce and before he sold the company, Mr. Beckwith claimed his stake was only worth $15 million.
At the time the two filed for divorce, Larry Beckwith was “very aware” that Eco-Energy’s ethanol trading business would be significantly affected by the end of the import tariff, the suit alleges. Companies in Brazil were eying businesses in the U.S. because the end of the tariff would mean more exports for the country.
Last November, less than a year after the divorce became official, Larry Beckwith sold his 80 percent share of Eco-Energy for $100 million to Copersucar, S.A., a Brazilian company and the world’s largest sugar exporter.
As a result, Jamie Beckwith wants the divorce set aside. The process, including thoroughly evaluating the company’s value, needs to be redone so she can be given her due, she maintains.