A lawsuit is brewing. The ugly kind. The kind where nobody wins, really. The kind that puts a child in the middle.
The minor son of Herbalife founder, Mark Hughes, is Alexander Hughes, a 14-year-old California resident. He is the only child of Mark Hughes, who died early at the age of 44 years old after taking an antidepressant following a drinking binge (not the biggest promotion for Herbalife, huh?). His death was ruled “accidental.”
Mr. Hughes had previously divorced his wife two years before his death, and thus the bulk of his estate was left to his minor son. The value of the trust estate is currently about $400 million.
Alexander’s mother, Suzan Hughes, a former Hawaiian Tropic model, and thrice-married, alleges that the Trustees of Alex’ trust, which include Alex’ paternal grandfather have taken too many fees and otherwise refuse to provide for him. The Trustees have fired back that Suzan is seeking additional compensation for herself in the guise of payments and assets to Alex.
Ms. Hughes had previously filed papers to oust the Trustees on the basis of breach of fiduciary duty – and was unsuccessful. Now, she is trying again, this time alleging other grounds, including excessive fees.
It’s a sad saga for Alex, who has been involved in what attorneys for the Trustees have referred to as “one of the most contentious trust and estate proceedings on record.”
Stay tuned to see what happens.
I have been following this case and it is important that someone separate fact from fiction
FACT
Suzan Hughes WAS successful in “OUSTING” the Custodian, who is also a Trustee, see this link
http://www.onpointnews.com/061113.asp
FACT
The Trustees have expended excessive fees, over 15 million on attorneys alone!
FACT
Suzan Hughes has been forced to sue to try to recover things that already belonged to Alex, such as personal family heirloom items that were kept from Alex when he was locked out of his father’s home. Of course, Suzan is Alex’s mother and if my father died I would hope my mother would try to retain EVERYTHING for me. Instead, the Trustees made Suzan Hughes sue them to recover family heirlooms and in the end she was able to BUY a few things. The rest was sold when the Trustees decided that Alex didn’t need them. Could you imagine your mother having to sue to BUY back things for you that belonged to you and your father?
FACT
Suzan Hughes has been forced to sue the Trustees to stop them from selling off the last piece of land that Alex owned. A piece of land that Alex’s father wanted to build his dream home on. Suzan wanted to keep the land for her son but the Trustees sold it anyway, to Trustee Conrad Klein’s dear friend Chip Dickens. The Trustees also decided to loan over $15,000,000 of Alex’s money to their friend Chip to make improvements on the land so he could turn around and sell it for double the same year.
FACT
The Trustees attorney, Kenneth Ziskin created a sham loan company, ZACADIA, to shelter taxes for the sole purpose of profiting by millions in loan fees.
FACT
The Trustees are trying to pay Kenneth Ziskin 3.5 MILLION more as a “success” fee for creating the tax shelter.
FACT
Suzan Hughes was forced to sue the Trustees to block this transaction.
FACT
Suzan Hughes has used her OWN money to fight these schemes while the Trustees have used Alex’s money.
FACT
People are smarter than the Trustees think and have looked beneath the surface of their dubious claims as they will soon find out.
FACT
The people with the information are protected and fully watched.
FICTION
Anything to the contrary. Look at the facts people and don’t buy in to the Trustees spin, its getting old and won’t work anymore.