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Stephen Baldwin Sues Kevin Costner BP Oil Spill Scheme

Posted by on December 23, 2010 at 5:46 PM EST

kevin costnerStephen Baldwin sues Kevin Costner over some BP Oil spill money scheme.

You might normally see a headline where Kevin Costner and Stephen Baldwin are facing off and assume they both have movies opening on the same weekend, but here it is something much different.  Stephen Baldwin has filed a suit in federal court against Kevin Costner alleging that Costner duped Baldwin out of his share of an $18 million dollar deal they struck with BP Oil.

This all stems from a company that Kevin Costner is an owner in called Ocean Therapy Solutions. This company invented a device called an oil-separating centrifuge that can take in sea water that is filled with oil, separate the two and then put just the clean water back into the ocean. Costner and his business partner Patrick Smith met with BP executive Doug Suttles on June 8th to discuss a deal where BP would order 32 of the devices. BP oil would put down an $18 million dollar deposit that would go towards the full purchase price of $52 million when the devices were delivered.

Stephen Baldwin was an investor in the company and claims that he was deliberately excluded from the meeting on June 8th.  He also says that he and a couple of other investors were not aware of the deal with BP when they sold their shares in the company three days after the deal had been struck. Baldwin claims that Kevin Costner and Smith “schemed” him and that they used money from the BP deposit to buy up Baldwin and other investor’s shares in the company. The suit claims that, “This action effectively robbed plaintiffs of a distribution that otherwise would have been payable to the plaintiffs.” Baldwin and other plaintiffs are seeking unspecified damages but claim that they are due, at the least, a portion of the $18 million dollar deposit.

Kevin Costner, Patrick Smith nor any of their representatives have commented on alleged BP Oil scheme which involves Stephen Baldwin.


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