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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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Yes, Virginia ...


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104 COMMENTS

No Avatar
46.

Pro-bono    

If S. Baldwin was smart he would've taken up Alec's offer to sell him 75% of preferred stock of the "schweatie Balls" corporation....for cheap!!!

Hey, Baldwin, you want to get into a lucrative business, I've got some of the finest telephone poles you can buy along Maryland route 85. For the prospectus call me at
1-800-DUMBASS!!!

1214 days ago
47.

Yayabeanes    

Who is Stephen Baldwin going to sue for not having a career...LMAO!

1214 days ago
48.

Pam    

Once you see the female stars without all their make-up, they pretty much look like the rest of us. And the photo of Megan Fox kinda proves it. That is not a flattering photo of her.

1214 days ago
49.

Charles Del Campo    

Very unfortunate that this two great actors are in a litigation battle over unsuspecting profits andbusiness misrepresentations. My suggestion next time, hire the expertises of a Corporate Investigator in order to gather business intelligence so as to arrange contingency planning and legal countermeasures.
Charles Del Campo
Private Detective.

1214 days ago
50.

james    

Baldwin is a nut. I saw him on rehab. I did see a show where Kevin Costner had his pumps working. Not sure if it was his idea, but they actually worked good at seperating the oil from the water.

1214 days ago
51.

Darlene    

Megan Fox has alot to learn about what true beauty is. First it begans on the inside by coordinating your mind and spirit. Second, you don't have to be so thin that you don't look healthy. Third, your body is a temple and you shouldn't detroy it with tattoos and piercing. (That's a sign of unclean spirits).

To Roland and others like him: Pres. Obama was saddled with years of a damaged government when he took his oath of office and has only been President for two years. It is impossible for any President to clean up all the previous years of mess in a four (4) or eight (8) year term. All a good President with good intentions can do is not to make a bigger mess and try to correct as much of past administratiions mistakes. He or (she) should put into place new policies and laws for the betterment of the people and rid us of as many of those already in place that is no good for us.

1214 days ago
52.

J.E.B.    

Okay Stephen, you got your 5 minutes of fame with this wild story. Time's up.

1214 days ago
53.

walk7miles    

Isn't it heart warming to find out that our celebraties are falling over each other to get into the GREED line?
You mean to say that these creeps actually fell all over themselves in order to profit from this disaster???

Boycott their films!!

1214 days ago
54.

BB    

Brach Obama is doing as good of a job as he can. It was the republican's & Bush that put the country in a complete mess and now everyone expected the democrats to fix it in 2 short years. Those Those of you that voted the republican party back in will deserve everything that is going to happen. I was a registered republican for 2 decades and I am now a registered Independent. Wake up people and see what is really happening to our beloved country.

1214 days ago
55.

Dennis Hillyard    

Roland Siller (9) Yes I agree, lets get back to a party that inherited billions and in 8 short years turned it into a massive deficit.

While at it we we can then invade another country with no good reason while running up huge debt that we are still paying for and for which, thousands on both sides have lost their lives.

Let us not forget we can then deny 30 + million Americans who cannot afford the 'supposedly' best health care system in the world.

And heaven forbid that we should deny the 2% richest, tax benefits as after all it will only add a further 8 billion to the national debt.

And we wonder why we are one of the most detested nations in the world !!!!

1214 days ago
56.

Eric R.    

Leave Steven Baldwin alone. He quite obviously has that "actor gene", the whole family has it. It makes you a genius, and immune to prosecution, like Lindsey Lohan.If any of us went on the binge that chick did, there would be no probation.And then there's old wife beater Sheen. Hollywood is blowing up folks.

1214 days ago
57.

justine    

i can't believe how negitive ya all are! which one of you is perfect? it's christmas time folks! there are people who need some encouragement and charity who are really hurting, folks who have lost everything...spend your energy helping the needy! you'll be surprized at how much it will change your life! peace to all!merry christmas!

1214 days ago
58.

Karen    

BALDWIN IS A DOUCHE BAG....it must be hereditary....

1214 days ago
59.

Larry    

Stephen is suing because they misrepresented themselves, just like the movie about Face Bxxx. Fraud can happen to the smartest people, when you trust the wrong people. Go get them Stephen.

1214 days ago
60.

Cherry    

Stephen Baldwin, the ugliest and stupidest and the least talented of the Baldwin brothers.

1214 days ago
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