BP Oil Spill Cleanup tycoon Kevin Costner sued for $52-million deal by piratenews

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BP Oil Spill Cleanup tycoon Kevin Costner sued for $52-million deal

POSTED BY: PIRATENEWS
UPDATED: Saturday, December 25, 2010 06:20
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Saturday, December 25, 2010 6:20 AM

John Lee, conspiracy therapist at Hollywood award-winner History Channel-mocked SNL-spoofed PirateNew.org wooHOO!!!!!!

Waterworld tycoon

Actors at war: Baldwin sues Costner for his share of $52m BP deal to clean up oil spill

Actor Kevin Costner is being sued by fellow Hollywood star Stephen Baldwin over an invention to help clear up after the BP oil spill.

The star feud erupted after Costner’s company struck a $52 million deal to provide new technology to help suck oil out of the ocean.

Baldwin - who starred in The Usual Suspects - claims he was kept in the dark about the deal and was duped into selling back his 10 per cent share in the business before it was signed.

Oscar-winner Costner and his brother spent more than 15 years developing machines designed to separate oil and water.

The technology was first invented during the filming of the actor’s hugely expensive futuristic epic Waterworld.

Baldwin, 44, said he bought into the project when Costner, 55, was trying to sell the idea to BP at the height of the oil leak crisis when millions of barrels of crude were oozing into the Gulf of Mexico.

But he pulled out when the deal appeared to have stalled.

Now, according to papers filed in Louisiana, Baldwin is claiming that Costner and his business partners ‘schemed’ to trick him into selling his shares.

According to the lawsuit, Costner made it seem like he had already sold his shares when he was really still heavily invested.

Baldwin was shocked to then learn that BP had bought 32 of the water-cleaning machines.

He said he was scammed into selling back his 10 per cent ownership for $500,000.

But he claims the venture ended up netting a profit of $38 million, of which his share should have been $3.8 million.

The lawsuit alleges: ‘The plaintiffs have been damaged directly by the misrepresentations and omissions of defendants in that they sold their membership interests for a fraction of their actual value.’

Costner has declined to comment.

http://www.dailymail.co.uk/news/article-1341324/Actors-war-Baldwin-sue
s-Costner-share-52m-BP-deal-clean-oil-spill.html

First JFK and now this...very impressive.

Stephen Baldwin...isn't he the star of Celebrity Rehab?

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