Patricia Kluge

Patricia Kluge: The Demise Of A Billionaire Divorcée

The saga of Patricia Kluge is one of glamour, sex, power, and money--and the luxurious lifestyle she so carefully crafted has crashed and burned. The era of conspicuous consumption for the ex-wife of the late billionaire John Kluge came to an end last month, when several banks foreclosed on an elaborate 960-acre winery and real-estate development she had established in Charlottesville, Virginia, in 1999.

And just last week, Bank of America delivered the coup de grace, filing suit against Kluge, claiming she defaulted on three loans worth $23 million. The bank stepped in and seized Albemarle, her opulent, 45-room Georgian mansion, adjacent to Thomas Jefferson's Monticello. ( Readmore... )

Patricia Kluge

Patricia Kluge, (AP) – Already having lost her company to foreclose, socialite Patricia Kluge and winemaker faces losing the great country estate where she has held lavish parties for guests.

Bank of America filed a lawsuit in U.S. District Court in Charlottesville this month claiming Kluge default on three loans worth nearly $ 23 million on Albemarle House, the house 23,500 square feet and Georgian designs. ( Readmore... )

Billionaire Divorcée Patricia Kluge's Downfall

Patricia Kluge had it all—beauty, an exotic past, and a rumored “cool billion” post-divorce. So how did she lose it all, from her 960-acre Virginia winery to her 45-room mansion? Sandra McElwaine on Kluge’s dizzying fall. ( Readmore... )

Bad Hangover: Socialite Patricia Kluge Faces Foreclosure

Melissa Korn reports:

Talk about a hangover.

Winemaker and socialite Patricia Kluge, ex-wife of the late Metromedia founder John Kluge, is facing foreclosure proceedings on her Albemarle House in Charlottesville, Va. According to local paper The Daily Progress, Bank of America filed suit alleging Patricia—who got the house in her divorce—defaulted on nearly $23 million in loans on the 23,500-square-foot mansion.

A representative for Patricia Kluge wasn’t immediately available for comment. ( Readmore... )

Courtesy : The Huffington Post , U.S.S.Post , The Daily Beast & WSJ