-
ADD TIME NEWS
- MOBILE APPS
- NEWSLETTERS
THE COLD WAR
SHE
Now that alliance is sundered, and these two scions of the Democratic Party could be testifying against each other in court. At issue are investment losses as high as $41 million from family trusts set up by Averell, a former ambassador to the Soviet Union and Britain, onetime Governor of New York and an heir to the Union Pacific railroad fortune. After his 1986 death, the trusts were overseen by Clifford; his former law partner, Paul Warnke, who was the top U.S. nuclear arms negotiator in the Carter Administration; and the widow Pamela. In September 1994, after monumental losses in the estate were discovered, Averell's two daughters from a previous marriage and their descendants sued the three for mishandling the investments. Three weeks ago, Pamela settled with the heirs, promising a "redistribution of family assets" in order to "correct inequities resulting from losses incurred on certain investments." Sources close to the dispute said Pamela would repay some $15 million and help the family pursue Clifford and the others.
All have denied any wrongdoing. Clifford, now 89 and in seclusion, is said by his lawyer to be "distressed about being drawn into this family dispute." Not least after having written the 49-page will that left almost all Averell's $100 million estate to Pamela. So much for gratitude.
Most Popular »
- Five Things the U.S. Can Learn from China
- Good and Bad News for Boxing: Only One Pacquiao
- The Meaning and Mythos of Manny Pacquiao
- How a Bank Robber Became an Antihero in France
- Why We Shouldn't Give Christmas Gifts
- Happiness Paradox: Why Are Americans So Cheery?
- Does Mexico City Need a Red-Light District?
- China Investigates Deaths After Swine Flu Shot
- Prosecuting Mohammed: Harder Than You Think
- Why Does the U.S. Want to Seize Mosques?
- Five Things the U.S. Can Learn from China
- Happiness Paradox: Why Are Americans So Cheery?
- Good and Bad News for Boxing: Only One Pacquiao
- The Meaning and Mythos of Manny Pacquiao
- Why We Shouldn't Give Christmas Gifts
- On the Copenhagen Agenda, Reducing Deforestation May Still Succeed
- How a Bank Robber Became an Antihero in France
- Beijing: 10 Things to Do in 24 Hours
- Why Does the U.S. Want to Seize Mosques?
- What Gets Lost When Our Finances Go Paperless







RSS