High net-worth divorce: majority of Mihos assets to go to wife

When the divorce was granted on Oct. 15, the judge found that Christy Mihos, politician and businessman from Massachusetts, was a deceiving, ego-driven man. His impulsive and reckless behavior was said to have resulted in financial destruction. In the high net-worth divorce case of Christy and his wife Andrea, the court ruled that the majority of their assets go to Andrea.

Andrea Mihos accused Christy of misusing millions of dollars during two hopeless political campaigns in 2006 and 2010, along with squandering money on porn stars, strippers and prostitutes. The majority of the Mihos’ remaining riches are offset by liabilities or tied up in real estate, as shown in documents filed in bankruptcy court and the divorce case. The judge ordered two multimillion-dollar homes on Great Island to be sold.

According to court documents, the assets are worth around $4 million, including profits from the sale of the Great Island properties. Of this, the judge ordered Christy to receive $1.1 million and Andrea approximately $2.9 million. Christy Mihos had suggested he receive 53 percent, while Andrea Mihos wished to receive 95 percent of the net assets. The final decision granted the husband about 28 percent and the wife about 72 percent.

Their condominium in Florida and a home on Great Island were split between them. Of their vehicles, the judge ordered that Andrea Mihos will get a leased BMW, two Land Rovers and a Mercedes, while Christy Mihos will get a Jeep. This Massachusetts high net-worth divorce battle is far from over, however. Christy Mihos’ attorneys have lodged a request for a new trial to establish the splitting up of the marital estate, mentioning new proof and inaccuracies in law interpretations, among other reasons. A divorce — high profile or otherwise — can often be complicated and detailed, but understanding one’s rights and responsibilities can allow the process to proceed with fairness and respect.

Source: Cape Cod Times, Divorce judge: Christy Mihos’ wife to receive majority of assets, Patrick Cassidy, Nov. 5, 2013

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