Shaquille O’Neal Sues Ex-Cannabis Business Associate for $ 1 Million

0
82

Shaquille O’Neal claims he was ejected by a partner in a legal cannabis business and now the Hall of Famer is suing more than $ 1 million for his investment and damage back.

O’Neal, 49, and another investor’s attorneys, Jerome Crawford, filed a lawsuit this week against Darron Campbell, his LLC and 10 John Does, alleging Campbell misdirected, wasted investment and failed to manage cannabis company Viceroy LLC properly accountable for expenses.

Campbell did not immediately respond to a request for comment submitted by DailyMail.com on its personal website.

Shaquille O’Neal claims he was ejected by a partner in a legal cannabis business and now the Hall of Famer is suing more than $ 1 million for his investment and damage back

O’Neal and Crawford claim they invested $ 100,000 and $ 50,000, respectively, in 2016 “to seize legal cannabis opportunities,” according to DailyMail.com’s lawsuit.

The problem, according to the file, was that Campbell appeared to have nothing to do with that initial investment of $ 150,000.

“At the end of 2017, Viceroy apparently had no licenses, no revenue and no operations,” the file said. “Questions arose about the defendants’ administration of Viceroy and how the funds invested were used.”

O’Neal and Crawford representatives then reached out to Campbell for an updated business plan and schedule, tax returns, financial statements, receipts and copies of licenses, contracts, bank statements and canceled checks.

According to the file, Campbell did not respond.

It was only after O’Neal and Crawford threatened legal action that they heard from their estranged partner.

On July 27, 2018, Campbell wrote to them saying he could buy back their shares in Viceroy.

‘At this point, I’m ready to buy the units in person [owned by Plaintiffs] over a period of time, ‘Campbell read a note to O’Neal and Crawford attorneys that was included in that week’s filing. “If it’s acceptable, I would pay Mr. Crawford and Mr. O’Neal at least $ 10,000 on the first day of each quarter until they are paid in full.”

O'Neal and Crawford claim they invested $ 100,000 and $ 50,000, respectively, in 2016

O’Neal and Crawford claim they invested $ 100,000 and $ 50,000, respectively, in 2016 “to seize legal cannabis opportunities,” according to DailyMail.com’s lawsuit. The problem, according to the file, was that Campbell appeared to have nothing to do with that initial investment of $ 150,000

Both O’Neal and Crawford verbally agreed to the deal, but Campbell only paid it once and still owed $ 130,000, “plus 10 percent interest from the due date of each installment.”

With damages, the two demand from Campbell more than 1 million US dollars.

O'Neal is a four-time NBA champion with the Lakers and Heat and says he made more money as an investor than he did playing

O’Neal is a four-time NBA champion with the Lakers and Heat and says he made more money as an investor than he did playing

“Plaintiffs are informed and believe and allege that the defendants intentionally engaged in the above conduct, charged with malice, fraud and repression with no apology or justification and with the specific intention of harming Viceroy and his business,” it says in the file. “The Viceroy is therefore entitled to punitive damages against the accused and each of them in an amount that has to be proven in the trial.”

According to its website, Campbell is primarily concerned with real estate investments.

“Daron Campbell Capital is a full-service private equity investment firm that specializes in aggressively investing in fast-moving, repositioned, distressed and development opportunities with exceptional returns,” says his biography. “DC Capital is a conduit that offers investors the opportunity to participate in large real estate projects with significant profit potential through value-adding methods orchestrated by Mr. Campbell and his staff.”

In addition to his role as an NBA analyst at TNT, O’Neal has had a successful career as an investor since retiring in 2011.

In addition to being heavily invested in the bond market, O’Neal is also invested in real estate, esports franchises, a Krispy Kreme donut location in Atlanta, and several tech companies, not to mention its minority stake in the NBA’s Sacramento Kings.