Former Simon & Schuster CEO, 91, who was worth $43 million, brands his ex-wife ‘The Grinch’ after they ’emptied bank accounts to next to nothing even after their split’, lawsuit alleges
- Former Simon & Schuster CEO Richard E. Snyder accuses his young ex-wife, 30 years his junior, of draining his bank accounts
- Snyder claims ex-wife Terresa Liu depleted his accounts using his ATM card in countries around the world while hospitalized with deteriorating health
- The couple broke up in 2018 but never really separated, Snyder claims he was so sick he didn’t know his accounts were drained to the tune of $3million
Richard E. Snyder, the former CEO of publishing house Simon & Schuster, says his ex-wife, who is about 30 years his junior, left him in a “difficult financial situation”.
Snyder alleges that Terresa Liu Snyder depleted her wealth, once valued at $43.5 million, claiming she wiped her accounts and even stole frequent flyer miles from her accounts.
Snyder was 72 when he met Liu, who was 42, in 2004. The couple married and were together for a decade before Liu began divorce proceedings against him in 2018, when he was 86 and she was 56.
After the split, Liu received $10 million, which Snyder said was a significant portion (about 75%) of his remaining net worth.
But according to Snyder’s legal filing, even after the divorce, Liu continued to deceive him by giving him “the false hope of an ongoing relationship” while allegedly continuing to siphon off another $3 million.
Former Simon & Schuster CEO Richard E. Snyder accuses his young ex-wife, 30 years his junior, of draining his bank accounts
Snyder claims his ex-wife Terresa Liu depleted his accounts using his ATM card in countries around the world while he was hospitalized and his health continued to deteriorate.
Snyder, now 91, has since compared her actions to those of The Grinch.
“Like The Grinch who left no crumbs or morsels behind, she even emptied her frequent flyer account by over 300,000 miles a day before abruptly giving up [Snyder]” Snyder said in the lawsuit.
Liu is also accused of abruptly abandoning it and traveling to various countries, including Switzerland, Greece, Italy and England, to make large cash withdrawals using the card. Snyder’s bank.
Snyder also alleged that Liu neglected to take care of him in October 2020 when she left him in the care of their housekeeper before failing to visit him while he was hospitalized with sepsis. Snyder suffered “complete loss of vision” due to an untreated detached retina.
Richard E. Snyder was the former CEO of publisher Simon & Schuster. Pictured is the company’s Manhattan headquarters
Legal documents seen by the New York Post state that it wasn’t until Snyder’s son, Matthew, came to his aid that he discovered the various financial troubles.
Snyder had outstanding debts, was being sued by a collection agency, facing lawsuits that Liu reportedly dismissed, and racked up $65,000 in city fines relating to the damaged facade of their Upper East Side townhouse.
Snyder ended up with $1.5 million in debt as a result of the disputes, but claims the real cause of his financial ruin was that Liu was systematically working to deplete his account, all without his knowledge.
Eventually, Snyder’s son transferred him to Los Angeles, where a doctor assessed him as being in “a deplorable state of health”.
The lawsuit claims that Liu “took advantage of her ex-husband when he fell ill and got away with it for years because of his disability.”
Snyder is now seeking $3 million in damages from Liu, who resides on Central Park South in Manhattan.
