Jan 25, 2023
The Baltimore Orioles’ family feud has worsened after co-owner Louis Angelos made serious claims in a new legal filing.
Louis Angelos alleges that his mother Georgia Angelos and brother John Angelos “systematically drained” a bank account held by his ailing father Peter Angelos “to insulate them” from potential creditors, among other reasons.
While Peter is the Orioles’ owner, John is the team’s chairman and CEO.
The filing states that the account held more than $65 million in 2017 but now holds only around $400,000.
The largest portion came from a transfer of $26.75 million to an account held by Georgia in October 2017, designed to shield assets from a malpractice suit against Peter, per the filing.
The filing also claims that John had $1.7 million sent to a real estate lawyer in Saratoga Springs, New York, in 2021 so that he could buy a house there, and wired himself $2.5 million from the account later that year.
Louis also claims that assets from the fund were used to secretly purchase additional shares in the Orioles from an unnamed female investor.
Source: Front Office Sports