OAN’s James Meyers
5:37 PM – Tuesday, August 15, 2023
California Senator Dianne Feinstein is suing the trustees of her late husband’s estate, alleging elder financial abuse.
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The Democrat filed a lawsuit on August 8th, accusing the co-trustees of “wrongfully withholding distributions to which Trust entitles her in bad faith and diverting assets that they should have used to fund.”
Feinstein’s (D-Calif.) husband, Richard Blum, died in February of 2022. He had a net worth estimated to be close to one billion dollars. Blum was the former president of the equity investment management fund ‘Blum Capital.’
Additionally, the 90-year-old senator asked for the power of attorney to be given to her daughter, Katherine Feinstein. She allegedly pushed for her mother to file the lawsuit on her behalf.
The suit was filed against three co-trustees of the estate, Michael Klein, Verett Mims, and Marc Scholvinck. Furthermore, the lawsuit stated the three trustees “funded gifts to Blum’s daughters or forgiven their indebtedness” without giving Feinstein the proper notice.
However, Steven Braccini, a lawyer representing the trustees, said Feinstein’s daughter is to blame.
“The trustees have acted ethically and appropriately at all times; the same cannot be said for Katherine Feinstein,” he stated. “This filing is unconscionable.”
Per court filings, in March, the Democrat was told her late husband’s estate was lacking liquidity, causing her not to collect funds.
The Senator has also filed two separate lawsuits dating back to June and July, claiming she does not have access to Blum’s trust.
Feinstein was hospitalized earlier this year and has announced she will not run for re-election in 2024. The Democrat’s seat is highly sought after.
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By: OAN
