1. As readers know, Carl Barney and Craig Biddle have been in litigation for a while now. Barney has gone on an internet offensive recently asserting that Biddle stole $9 million from him.
Craig originally drafted an Advisement Agreement that he, Sarah [Biddle], Lenny Esmond (our joint accountant at the time), and I signed. The Agreement required OSI to maintain these funds in a segregated investment account. Use of the funds required my approval; without my approval the “funds may not be used”.
On January 26, 2024, Craig confirmed: “The funds are held in trust by OSI, not grants to OSI”—emphasis added.
In the same exchange, Craig wrote: “They are held in trust and may be used only with Carl’s and Lenny’s permission.”
In January 2026, having become concerned with the Biddles’ behavior, I directed OSI to transfer the trust funds and demanded an accounting. Craig refused. On January 12, 2026, using money from the trust, Craig filed suit to seize the $9 million.
In any event, the episode has caused Barney to rethink his view of human nature.
For much of my life, I believed that people were fundamentally good. I was inclined to trust. I wanted to see the best in others. In many cases, that openness served me well, but that belief carried a cost.
Two long-term and personal relationships ended in profound betrayal. People I trusted personally and financially proved themselves dishonest. Those experiences forced me to reexamine my longstanding assumption.
I assume Barney is referring to Biddle and Yaron Brook.
