Tobias Widow Gets Bulk Of Hedge Fund Manager's Estate

Jun 19 2008 | 5:46pm ET

The widow of Circle T Partners founder Seth Tobias will keep the lion’s share of his estate after settling an ugly probate battle with his family.

Tobias’ family will split roughly $3.2 million of Tobias’ estate, with was estimated as being worth between $35 million and $40 million, under a deal approved by a Florida judge today. His brothers, Sam and Spence, who initiated the effort to disinherit Tobias’ widow, Filomena, whom they accused of killing their brother, will also get his investment business, New York-based Tobias Brothers. The firm is thought to be worth very little, and the family will have to pay their attorney from their share of the estate.

By contrast, Filomena Tobias gets the rest of her late husband’s liquid assets, as well as their real estate holdings in Florida. She will also become personal representative of the estate.

As promised, the two sides issued a joint press release. It read, in its entirety, “The parties have amicably resolved their difference and the allegations of the Petition will be withdrawn on probate court approval of this agreement.”

Tobias was found dead in his Jupiter, Fla., pool in September with alcohol and drugs in his system. As lurid details about the hedge fund honcho’s private life emerged, a former personal assistant to Tobias and his wife, William Ash, claimed that Filomena Tobias had murdered her husband and confessed to him her crime.

But police were unimpressed by Ash’s story—and inability to get Filomena Tobias to repeat her confession on tape—and in February announced that no charges would be filed against her.

RELATED STORIES

Tobias Brothers Retract Reported Retraction
Tobias Brothers Drop Murder Claim In Settlement
Hedge Fund Manager’s Widow Settles With His Family
No Charges In Tobias Death
Hedge Fund Manager's Widow Escapes Charges
Tobias Had Cocaine, Sleeping Pills In System
Tobias Aide Passes Lie Test
Attorney To Assure Tobias Case Gets Top Billing
Assistant Claims Wife Killed Circle T Partners Founder
Hedge Fund Honcho Found Dead In Swimming Pool


In Depth

Hedge Fund Selection: Sussex Partners’ Patrick Ghali Bullish On The Best Of The Best

Oct 2 2014 | 5:56am ET

Ten years ago, Patrick Ghali and Robin Nydes co-founded Sussex Partners with the...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    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…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.