Stephen Baldwin ‘used celebrity to promote oil cleanup company’

“I could have asked my big brother,” Baldwin said.

On Friday, Costner said he never saw Baldwin contribute anything to the
company and wondered what Baldwin was doing to help. Costner also recalled
that Ocean Therapy Solutions CEO John Houghtaling had begged Baldwin and
Contogouris not to sell their shares shortly before BP committed to buying
the devices.

Baldwin described himself as a “door opener” for Houghtaling who
gave radio and television interviews about the centrifuge technology in the
weeks after the spill. Baldwin also recalled meeting with Plaquemines Parish
Billy Nungesser to discuss the machines.

“My job was to market and promote,” Baldwin said. “I had no
responsibilities relevant to getting the devices in the water.”

Like Costner, Baldwin said his primary interest in the deal was helping
protect the coast from the spill.

“I wanted the machines to work,” he said. “Make some money?
Great. Not my first motivation.”

Baldwin, whose testimony resumes on Tuesday, said he had offered to give up 5
percent of his ownership stake in Ocean Therapy Solutions to appease Costner
when the business partners first negotiated their ownership interests in the
fledgling company. Costner had felt “undervalued” and appeared to
be in a bad mood when the terms were first discussed, Baldwin recalled.

Baldwin and Contogouris claim they were deliberately excluded from a June 2010
dinner meeting at which BP executive Doug Suttles committed to ordering the
centrifuges. Baldwin said he relied on Contogouris’ advice when they sold
their shares in the aftermath of that meeting.

“I trusted him unequivocally,” he said, insisting he had no reason
to believe a deal was imminent.

A lawyer for Smith asked Baldwin why he believed $500,000 was a fair return on
his shares.

“Spyro told me it was,” Baldwin said.

Contogouris sold his shares for $1.4 million.

BP deployed a few of the centrifuges on a barge in June 2010. The company
capped the well the following month, and it was permanently sealed in
September 2010.

Source: agencies

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