Tuesday, 21 October 2014
Last updated 2 hours ago
Apr 19 2013 | 11:19am ET
BP Capital's T. Boone Pickens and three of his children have sued the fourth, accusing him of airing the family's dirty laundry on his blog.
Michael Pickens' online adventure, "5 Days in Connecticut," began as a chronicle of his battle with drug and alcohol addiction, but came to be filled with allegations of abuse, theft and addiction.
According to the 58-year-old, the billionaire hedge fund manager routinely abused his wife and children. "Long, frightening, yelling and screaming 'matches' were common," he wrote. "It was my father against us, always. He hated and despised all of us and we knew it. We needed to 'run our lives in a business-like manner,' he would say."
"When I think back to my childhood, all I can remember is my profound feeling of worthlessness, helplessness, confusion and fear," he continued. "I still wonder what sort of perverse satisfaction my father got out of this, his own personal brand of child abuse."
The posts about the family are currently off Michael Pickens' blog, due to a February injunction. But his lawyer said edited versions of them will be back online shortly, and that Michael Pickens is working on a book. He added that the recent death of Boone Pickens' grandson motivated his actions.
Among Michael Pickens' claims are that his siblings are also drug addicts and routinely stole money from their mother, and that his father had sabotaged a son-in-law's business. He also hints at sexual abuse.
Boone Pickens has dismissed his son's blog as an "extortion" attempt and in February sued to have the blog shut down. Last month, Michael Pickens' motion to dismiss that lawsuit revealed that his father, two sisters and brother were behind the initial suit.
"It is regrettable that he has taken such public steps to cope with his many issues," Boone Pickens spokesman Jay Rosser said. "The family has already spent considerable time and money to help him resolve his addiction and mental health issues, and has agreed to pay for more if he enters treatment once again."
"The statements made by defendant on his blog are, on information and belief, nothing more than his version of poor recollections, childhood fantasies, misdirected anger, transference and a psychological aversion to taking responsibility for his own bad choices and behavior," Boone Pickens' complaint says. "Defendant's life was not marked by physical, emotional, spiritual and mental abuse brought on by the plaintiffs. In fact, the defendant's life has been marked by his own self[-]inflicted failures, reprehensible conduct, individual drug abuse, and alcohol dependency, despite the support his family has given in the past."
Even Michael Pickens' son, Michael Jr., denies his father's allegations.
"I love my father dearly, and I know he loves me," he told Forbes. "But this blog stuff is out of control; it's not accurate in the least."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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