Steven Cohen, founder of SAC Capital Advisors, has denied the allegations of fraud made by his former wife, Patricia Cohen, after a judge dismissed her charges of racketeering.

Just Words on Paper

Cohen has filed the papers in court denying the claims made by Patricia Cohen in 2009. She had said that Steven Cohen ran SAC Capital as a racketeering enterprise and indulged in insider trading, money laundering, and bank fraud. However, a U.S. District judge dismissed the charges in January this year.

Used as Collateral

Now Steven Cohen has denied the claims made by Patricia Cohen in her most recent suit. In this she has claimed that Steven Cohen placed all their marital assets except their apartment into the SAC which he founded in 1986. Patricia Cohen claims that her ex-husband invested more than $8.7 million of marital assets in the venture of which he was the sole shareholder and used the money to purchase other properties.

While Steven Cohen is said to have claimed that the investment was a complete loss, Patricia Cohen claims that he received $5.5 million from it. Patricia Cohen has also claimed that Steven Cohen hid the assets from her when discussing divorce and maintenance and she discovered the assets only in 2006, though they divorced in 1990.

This couple had obviously distrusted each other which is why they divorced. But the financial situation they were involved in has carried over all the way to present time.

Who gets what?

When a couple decides to divorce, the division of assets can be contentious. However, one way of ensuring a fair settlement is to retain the services of an expert divorce lawyer who can examine the various documents and filings and determine how much the spouse is entitled to. The divorce professional can examine documents in the public record as well as other documents that reveal financial transactions to ensure that the divorce and maintenance negotiations are fair to both spouses. By doing this you can also be assured that you will receive the money due to you much sooner.