Stephen Baldwin Sues Kevin Costner for Allegedly Scheming Him Out of Millions
By Jett Wells Posted Dec 23rd 2010 01:59PM
According to TMZ, Baldwin is suing Costner because he robbed him of his shares in the oil-filtering invention Costner sold during the BP oil leak disaster in the Gulf of Mexico.
According to a filed lawsuit in Louisiana federal court obtained by TMZ, Costner agreed to have Baldwin come on to his small biotech company, which built a device separating oil from water. The move assured Baldwin 10 percent of shares in the company. The key part of the lawsuit comes in Baldwin's accusation of Costner lying about plans to sell the devices to BP after buying Baldwin's shares back, when he later ended up selling 32 machines to the oil corporation. The deal with BP had an estimated value of $52 million.
Baldwin suggests he was "duped" into selling back his shares to make a bigger profit with a BP deal Costner said didn't exist, and wants to be repaid in damages.
Before Costner parted with Baldwin, Costner spent $20 million investing in Ocean Therapy with hopes of helping saving entire ecosystems poisoned by oil leaks, and serendipitously, Costner's wonder machines ended up making him a "green warrior" after they were put to work in the Gulf of Mexico last Summer.
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