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Stephen Baldwin: Costner 'Robbed' Me In BP Disaster

12/23/2010 10:21 AM PST BY TMZ STAFF

Stephen Baldwin is suing Kevin Costner, claiming Costner and his business partner  "schemed" to make millions of dollars off the BP oil rig disaster ... by allegedly duping Baldwin into selling shares in a company that builds machines that separate oil from water.

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In a lawsuit filed in Louisiana federal court, Baldwin claims in April, he had a meeting in the wake of the oil disaster, and decided to become a 10% partner in an invention backed by Costner -- a device that separated oil from water that was actually developed during the filming of "Waterworld."

According to the lawsuit, Costner and his partners made it seem as if Costner had already sold his shares in the company when in fact he was still heavily invested.  Baldwin also claims the company misrepresented that there was no deal to sell the contraption to BP.

Baldwin alleges he was duped into selling his shares back to the company so Costner and his partners could score a bigger profit in a deal that was already inked -- specifically, a deal with BP valued at more than $52 million.

Baldwin is suing for unspecified damages. No comment from Costner's camp.

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104 COMMENTS

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| 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments
1.

AngelPrincesss    

Stephen Baldwin is an idiot! He should have researched what he was getting into, before ever making a committment with Costner! I don't blame KC, I blame SB.. Even his initials serve him well: Son (of a) Bitch!

1310 days ago
2.

doda    

Megan Fox is starting to look like a skank.

1310 days ago
3.

Lori    

Is Stephen the Baldwin that's the Christian who wants people to support him because he's Christian? Did someone, or he himself, start a foundation to benefit his Christianity???

1310 days ago
4.

Rem    

Steven Baldwin is almost as big of a loser as his brother Alec. Almost.

1310 days ago
5.

wakeupamerica    

The whole Baldwin clan is on the short end of the stick...

1310 days ago
6.

Jeff    

Good 4 Paris

1310 days ago
7.

Keymanlb    

Kevin Cosner is obviously more savy in the business field. Both need a reason to get away from acting.
Even if some shares were sold, you got to investigate if it was a good time to sell. No one put a gun to Baldwins head. He was paid for the shares he sold. I guess when your acting career is in the toilet you regret every decision you ever made. Losers weepers.

1310 days ago
8.

steven    

Megan Fox is not a fox. What was she thinking with the gangbang tattoos. She looks like a common mixed up skank.
Ink on skin does not allow for a change of maturity. She will really look nice in the Bahamas at 50 years old. Tats are going to fade, bleed, stretch as most persons age.
I hate INK except on sailors. They age gracefuly and are cool.

1310 days ago
9.

Roland Siller    

people who voted for Barac Obama, now you see how untrust whorthy
he is and Nancy Poleis.

Let's vote them out in 2012. This time there is no excuse for being
stupid.
Thats right stupid.

1310 days ago
10.

jack    

Christina Aguilera is with another smuck. He looks like the other Muppet. I don't understand what Americans see in Paris (ugly) Hilton, and skinny skanky fox.

1310 days ago
11.

Jeanne    

Roland, you're an idiot. If you can't spell the name of the sitting president, you've got no business being in the voting booth. That's right stupid.

1310 days ago
12.

Marcus    

Baldwin - news flash! It sucks to be you! Also, you have to wonder what Baldwin would be saying if BP hadn't gone through with the deal? It was a chaotic time, and lots of deals didn't actually get consummated between BP and other potential suppliers.
Then, onto Megan Fox - EAT something, and hold it down too! Skinny as a stick is NOT Hot! What was the writer thinking here?

1310 days ago
13.

ray    

Lets hear it for "progressive" hollywood out to save the environment...sounds like George Soros and his 11,000 shares of the scanning company employed by TSA.

1310 days ago
14.

Slash    

Isn't Balwin the guy that always leaves re-hab houses ? Then he turns into a preacher ? The guy is fishing. He would sell his mom to get high !

1310 days ago
15.

Sheriffchris    

I'm thinking that Baldwin is a Idiot. If Costner yold him he had a goose that lays golden eggs would he buy...probably !!

What he dose not tell you is that he sold his shares at a profit..

Ya can't have your cake and eat it too

1310 days ago
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments

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