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Former Apple CEO Sculley being sued by ex-wife for allegedly hiding more than $25 million during divorce

Former Apple CEO John Sculley is being sued by his ex-wife, Carol, for allegedly hiding $25 million in assets during their divorce in 2011, NYPost reports. As seen in the court papers, Sculley had

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Former Apple CEO John Sculley is being sued by his ex-wife, Carol, for allegedly hiding $25 million in assets during their divorce in 2011, NYPost reports.

As seen in the court papers, Sculley had claimed that their total marital assets at the time of separation were $4.8 million. But Carol has alleged that Sculley didn’t disclose “substantial private equity investments and investments in privately held companies and ventures around the globe.”

The court papers further go on to reveal that Sculley began having an affair with a former aide from Apple in early 2000, and that was the time when he started to hide assets from his ex-wife. The papers also allege that Sculley took help of two of his brothers “to help him transfer assets” or “simply hide these assets from Leezy (Carol).”

John Sculley is the same executive who had famously fired Steve Jobs from Apple back in the day. He now reportedly maintains a net worth of $200 million. Another investment fund in which Sculley is involved, Singapore-based Inflexionpoint is behind Obi Mobiles – a new smartphone brand in India.

Carol sued him in 2013 claiming that he “lied” to her and the court as he allegedly “submitted a false financial affidavit . . . and failed to fully and honestly disclose his assets.”

Carol claims that one of the assets he had hiden, Pivot Acquisition Corp., now has grown into a more than $100 million business. Sculley, however, condemned all these allegations made against him.

“Media reports which falsely claim that John Sculley hid any assets during his divorce have zero basis in truth,” Ronn Torossian, a spokesman for John Sculley said. “The reality is that this case has been in the court of law for a number of years, and leaking false items to the media in a desire to pressure Mr. Sculley into settling this case is despicable. There is zero truth to these allegations. Mr. Sculley is confident this case will result in a full vindication for him.”

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  • Published Date: January 27, 2015 9:45 AM IST