Richard E. Snyder, the former CEO of Simon & Schuster publishing house, has claimed that his much younger ex-wife, Terresa Liu Snyder, has left him in dire financial circumstances. According to Snyder’s allegations, Liu depleted his previously valued net worth of $43.5 million. He accuses her of emptying his accounts and even stealing his frequent-flyer miles. The couple first met when Snyder was 72 and Liu was 44 in 2004. They got married and remained together for ten years until Liu initiated divorce proceedings in 2018, when Snyder was 86 and she was 58.
As part of the divorce settlement, Liu received $10 million, which Snyder claims was a significant portion (approximately 75 percent) of his remaining net worth. However, according to Snyder’s legal claims, Liu continued to deceive him by providing false hope of a continued relationship while allegedly siphoning off an additional $3 million. Now 91 years old, Snyder has likened her actions to those of The Grinch, leaving nothing behind. Snyder’s lawsuit also accuses Liu of abruptly abandoning him and traveling to various countries, such as Switzerland, Greece, Italy, and England, where she made large cash withdrawals using his ATM card. He further alleges that Liu neglected to care for him in October 2020, leaving him in the care of their housekeeper and failing to visit him during his hospitalization for sepsis, which resulted in a complete loss of vision due to an untreated detached retina.
According to legal documents obtained by the New York Post, it was only when Richard E. Snyder’s son, Matthew, intervened that the extent of the financial problems came to light. Snyder had unpaid debts, was being pursued by a collection agency, faced lawsuits that his ex-wife, Terresa Liu, had allegedly disregarded, and had incurred $65,000 in fines for damage to their Upper East Side townhouse’s facade. As a result of the disputes, Snyder found himself burdened with $1.5 million in debt. He claims that Liu systematically drained his accounts without his knowledge, attributing her actions as the primary cause of his financial downfall. Eventually, Snyder’s son relocated him to Los Angeles, where a doctor assessed his health as being in a deplorable state.
The lawsuit alleges that Liu took advantage of her ex-husband’s illness and evaded accountability for years due to his disability. Currently, Snyder is seeking $3 million in damages from Liu, who resides in a residence on Central Park South in Manhattan.
Ok BBS Players what do you all think? Have you ever heard of similar cases where one spouse allegedly drains the financial resources of the other during or after a divorce? What are your thoughts on the allegations made by Richard E. Snyder against his ex-wife, Terresa Liu, regarding the depletion of his accounts and financial ruin? Considering the significant age difference between Richard E. Snyder and Terresa Liu, do you think it played a role in the alleged exploitation and financial misconduct? Sound off below…