Griffin, one of the most prominent corporate personalities in Florida, faces charges brought by his four sisters in Polk County Circuit Court that he is mismanaging the family's $300 million trust, forcing relatives out of the business and stole $4.4 million from the trust since it was created by their equally prominent father, Ben Hill Griffin Jr., in 1990.
Griffin denies the allegations and maintains he is running the family's operations profitably and legally.
The sisters also allege the 59-year-old Griffin is overpaying himself as a $1.1 million-a-year CEO of three family-owned companies that own extensive real estate, citrus and cattle assets in at least nine counties, including the Central Florida area.
The sisters want the brother to return an unspecified portion of the $2.2 million to the trust. The money represents his salary for the past two years. Bartow is 60 miles south of Downtown Orlando.
The non-jury trial, before Judge Michael Hunter, is expected to take two weeks and likely will usher in more prominent business and government figures, including Katherine Harris, Florida's secretary of state, Orlando lawyers following the case tell GlobeSt.com.
Harris, a Republican, gained national attention during the Presidential election when she refused to give voting sites additional time to count dimpled ballots in Palm Beach, Broward and Miami-Dade counties.
She is the granddaughter of Ben Hill Griffin Jr. who died in 1990 and left his four daughters and one son equal shares in the family fortune.
Ben Hill Griffin III took charge of the family's operations, however, maintaining his sisters never showed administrative interest in running either Alico Inc., Orange-co Inc. or Ben Hill Griffin Inc. Griffin is also chairman of BHG Inc., a holding company for the three firms. He lives in Frostproof, FL, 20 miles south of Bartow.
Based on the recognition value of the wealthy family alone, the case is beginning to draw regional attention. But it also is expected to unveil some surprises, such as the 1998 settlement the sisters made with their brother on similar charges.
At that time, according to court records, Griffin agreed to have the trust pay $4 million cash and a $5 million corporate bond to each of the sisters. The bond pays the sisters annual interest of $400,000.
The late Ben Hill Griffin Jr was a staunch supporter of the University of Florida in Gainesville, FL where the Gators' football stadium is named for him. He unsuccessfully ran for governor in 1974. Ben Hill Griffin III is an equally strong University of Florida backer in all of its academic, cultural and athletic activities.
Saddlebag Lake Resorts Inc. is one of Alico Inc.'s real estate subsidiaries developing residential communities in Frostproof, Griffin's hometown.
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