Hedge Fund Manager's $25M Estate to Settle
June 23, 2008
The family of deceased Circle T Partners hedge fund manager and frequent CNBC guest Seth Tobias is said to be near a settlement regarding his $25 million estate. Since 44-year-old Tobias's mysterious death last September, his family and his wife, Filomena Tobias, have been disputing the circumstances of his death and the outcome of his estate.
The family, claiming Tobias was murdered by his wife, not the victim of a heart attack while swimming in his Jupiter, Fla., pool, filed a civil suit against her seeking to call upon Florida's "slayer statute," which would deny her any of the inheritance. Ever since Palm Beach County State Attorney declined the suit, the two parties had been feuding over the division of Tobias's estate.
Due to the fact that Tobias did not update his will upon marrying Filomena in 2005, she is entitled to receive his entire inheritance. In his most recent will before marrying, however, created in 2003, Tobias gave each of his four brothers 15% of his estate and each of his parents 10%. Facing a looming trial, the two parties reached an agreement. Terms of the settlement have yet to be released.
Meanwhile, other individuals who knew the late financier, including a psychic, have accused him of cocaine abuse and association with gay prostitutes.
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