Baltimore Orioles chairman John Angelos and his mother, Georgia, ‘plundered’ tens of millions of dollars from 93-year-old team owner Peter to buy a greater stake in the MLB club while shielding assets from creditors, according to an explosive court filing made by younger brother, Louis.
The allegations were made as part of an updated lawsuit against John and Georgia by Louis, who claims the pair ‘systematically drained’ a bank account that held more than $65 million, leaving about $400,000 as of several months ago.
The alleged plundering of the account occurred in the five years since Peter Angelos fell ill as a result of heart problems, according to the lawsuit obtained by the Baltimore Sun.
The largest transfer occurred in October of 2017, when Georgia moved $26.75 million out of the Wells Fargo account in an effort to shield the assets from a malpractice lawsuit against Peter, according to the lawsuit.
In the original lawsuit, filed in Baltimore County Circuit Court, Lou Angelos said John tried to take control of their father’s estate while excluding Lou.
‘In 2018, [Peter] Angelos became disabled,’ the suit said.
‘Shortly thereafter, John embarked on a series of steps to arrogate to himself complete control over Mr. Angelos’ assets.
He accomplished this by manipulating his mother, Mrs. Georgia Angelos, who is now eighty years old, thereby bending her to his will.’
Lou Angelos is the plaintiff in the lawsuit. John and Georgia Angelos are defendants.
According to the suit, Peter Angelos had surgery after his aortic valve failed in 2017. Around then, he executed a revocable trust and durable power of attorney.
‘A principle purpose of these documents was to ensure that Mr. Angelos’ sons worked together in support of their mother, shared decision-making and enjoyed equal rights of inheritance,’ the suit said.
‘Mr. Angelos never intended that one son should wield control over his estate to the exclusion of his other son.’
The suit accuses John Angelos of working to undermine Georgia Angelos’ confidence in Lou, and to exclude him from the Orioles’ business matters.’The corrupting effect of John’s actions has been to thoroughly frustrate Mr. Angelos’ intentions,’ the suit said.
‘John intends to maintain absolute control over the Orioles — to manage, to sell or, if he chooses, to move to Tennessee (where he has a home and where his wife’s career is headquartered) — without having to answer to anyone.’
The suit didn’t elaborate on whether there’s any significant likelihood of the team moving. It did claim Mrs. Angelos felt it was in the trust’s best interest to sell the team — but that John Angelos has attempted to prevent that.
The lawsuit also claims that in 2019, John Angelos ordered former Orioles outfielder Brady Anderson fired as part of an effort to remove people who would oppose his actions.
Anderson, who spent almost all of his 15-year playing career with Baltimore, had returned to the organization and become a vice president of baseball operations.
The Orioles had a resurgent season in 2022, finishing 83-79 and nearly making the postseason after winning only 52 games in 2021.