(TheProudRepublic.com) – In a shocking lawsuit that exposes the dark side of family business dealings, Baker Mayfield, the star quarterback for the Tampa Bay Buccaneers, claimed his father swindled him out of millions.
See the tweet below.
Baker Mayfield and his wife, Emily, have filed a lawsuit against his father’s company, Camwood Capital Management Group, and several related entities.
The suit, filed in the United States District Court for the Western District of Texas in Austin, alleged that these companies improperly took over $12 million from the Mayfields between 2018 and 2021.
The lawsuit claimed that Mayfield’s father, James W. Mayfield, and brother, Matt Mayfield, used a “collection of interconnected entities with common ownership” to transfer millions from Baker’s accounts without proper authorization or documentation.
These funds were used to finance acquisitions and cover operating expenses, including payroll obligations, with no intention of repayment.
The Mayfields asserted that when they began to uncover the alleged misconduct and sought answers, the defendants “attempted to obscure the relevant information, avoided Plaintiffs’ inquiries, and invented fictional explanations for their actions.”
In addition, a confidential settlement reached in January required Camwood Capital to repay $11,741,000 plus interest starting September 30.
However, the lawsuit alleged that not a single dollar has been repaid, the existing loan has not been refinanced, and access to financial records has yet to be provided as agreed.
The lawsuit read:
“It is now clear that Defendants had no intention of making Plaintiffs whole when they entered into the Settlement Agreement. To date, Canwood Capital has not repaid even one dollar under the Settlement Agreement, Defendants have failed to refinance their existing loan, and Defendants have not provided Plaintiffs with access to their books and records…”
“In other words, Defendants have satisfied none of their obligations and have refused even to respond to Plaintiffs’ outreaches about those breaches,” it added.
Former University of Oklahoma (OU) Quarterback Baker Mayfield and his wife filed a lawsuit against his father's company, claiming more than $12 million was stolen from them. https://t.co/A7mUsOkUAo
— FOX23 (@FOX23) November 26, 2024
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