Richards, 44, has accused the 50-year-old actor of taking money out of a trust for their daughters, Sam, 11, and Lola, 10, in order to fund his party lifestyle, reported Radar Online.
The lawsuit accused Sheen of selling a Mulholland Estates mansion that was put in a trust for their daughters, and not turning returning the money to the trust after it was sold.
The house was supposed to give them financial security for the future, according to insiders. Sheen is the only defendant in the suit.
Sheen had bought the 9,000 square foot home with six bedrooms, nine bathrooms, a pool, and pizza oven in 2011 for Richards for USD 6.99 million.
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