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Manhattan judge rules in favor of billionaire Steven Cohen in divorce case

Loretta Preska, chief judge of the U.S. District Court in Manhattan recently decided a divorce case in favor of American billionaire Steven Cohen.

Reports claimed that the 59-year-old hedge fund manager and Point72 Asset Management founder was accused of fraud by his former spouse, Patricia Cohen. Patricia reportedly claimed in a 2009 lawsuit that Steven concealed assets from her, so she was pursuing charges to acquire half of the $5.5 million and interests. Chief Judge Loretta Preska decided in favor of Steven due to Patricia’s weak evidence regarding the claim. Judge Preska also said that because Patricia waited so long to file the lawsuit (even though she had such suspicions of fraud in 1991 and 2006), the statute of limitations on the case ran out. Steven Cohen’s spokesperson told reporters that they “were pleased with the court’s thorough and thoughtful decision.”

Divorce is a complicated and emotional proceeding, especially if there are large assets involved. If you are going through a divorce in Monmouth County, the legal team at the Law Office of Andrew A. Bestafka, Esq. may be able to represent you. Call our office at (732) 898-2378 to find out what we can do to ease this difficult process. We also serve people in Ocean and Middlesex Counties.