More than just another billionaire divorce spat, the Bosarge case offers a rare window into the highly secretive world of asset trusts in South Dakota, a state whose highly secretive and protective trust laws have made it a haven for billionaires and wealthy families around the world.
Analysts and local politicians estimate that between $250 billion and $900 billion is now stashed in South Dakota trusts. From Chinese billionaires looking to keep their fortunes out of reach of the government, to Europeans looking to avoid taxes to Americans looking to shield wealth from spouses, South Dakota is fast becoming a mini-Switzerland for the world's rich.
As Quantlab grew, so did the Bosarge's wealth. They built a 37,000-square-foot home in Houston called Chateau Carnarvon, which had its own hair salon, massage room, music room and theater. Some rooms were filled with gold leaf, tapestries and paintings. Marie, with her high cheekbones, arched brows and blond hair, had an affinity for Marilyn Monroe. She bought an array of Monroe memorabilia, including the actress' hot-pink Ferragamos, the couch that she reclined on during her psychiatrist visits, a table from Monroe's Brentwood, California home, the red dress she wore in "Gentlemen Prefer Blondes," and some of her bras.In 2012, according to the lawsuit, Ed began an affair with a Russian mistress.
But she said she didn't know that their personal belongings — from the yachts and mummy to a diamond necklace he gave her and even their tableware — were also locked up in a trust.
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