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Settlement Upheld in AIG Founder’s Divorce

Having two marital affairs and still walking away with millions is not usually how things play out for cheating spouses - but that's exactly what happened for Susan Sosin. Divorce attorneys in Pasadena were surprised when the Connecticut Supreme Court upheld a $3.8 million judgment against AIG founder Howard Sosin. The court found that Sosin had shortchanged his ex-wife in one of the priciest divorces in the country.

Poor Howard Sosin. The 60-year-old derivatives specialist filed for divorce from Susan in 2003 after discovering hundreds of steamy e-mails between his wife and her lover. Susan later admitted in court to having two extramarital affairs while she was married to Howard. Things got worse in a lower court in Bridgeport when a judge ordered Howard to pay Susan nearly $25 million in cash after their 2005 divorce trial. The hefty cash prize was on top of the estimated $20 million in real estate and personal property he was forced to hand over.

Yet Howard didn't exactly listen to the court when it came time to fork over the money. Sosin initially paid her "only" $20 million back in November 2005, claiming the judge overvalued one of his bank accounts. Susan eventually received an additional $4 million in March 2006 for what Howard considered to be the remainder of what he owed her plus interest. Nevertheless, Howard Sosin appealed to the state Appellate Court and Supreme Court.

In a decision reached on February 3rd 2011, the Connecticut Supreme Court upheld the Appellate Court's decision which confirmed the rulings of Superior Court Judge Howard Owens Jr. who had ordered Howard Sosin to pay Susan Sosin the initial $24 million and later ordered him to pay the remainder plus interest. Susan is reportedly thrilled with the court's decision and, according to her attorneys, is currently perusing the exact amount of interest Howard owes on the settlement. At the time of the 2005 divorce, Susan Sosin's additional divorce earnings included a $2 million Utah ski house, a Manhattan apartment and a country home in Wallkill, New York.

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