Calvin Harris Accuses Financial Advisor of $22.5 Million Theft
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Calvin harris, the Scottish music producer and DJ, has accused his financial advisor of stealing $22.5 million to fund a “boondoggle” real estate project in Hollywood.
The Alleged Scheme: CMNTY Culture Campus
Harris alleges that his advisor, Thomas St. John, induced him to invest in CMNTY Culture Campus, a 460,000 square foot progress that was to include recording studios, office space, and artists’ lounges.
According to an arbitration demand, St. john, who served as Harris’ financial advisor for 13 years, began developing the project around 2020. Harris’ lawyers allege that the project was misrepresented and ultimately a misuse of Harris’ funds.
Misrepresentation and Lack of Clarity
The core of Harris’ complaint centers around claims that St. John failed to disclose conflicts of interest and misrepresented the financial viability of CMNTY Culture Campus. Harris’ legal team argues that St. John presented the investment as a low-risk opportunity, while together benefiting personally from its development.
The $22.5 Million Investment
Harris reportedly invested $22.5 million into the project, believing it to be a sound financial decision based on St. John’s advice. Though, the project has faced significant challenges, and Harris now believes the funds were improperly diverted.
Arbitration Demand and Legal Action
Harris has filed an arbitration demand seeking to recover the $22.5 million,along with additional damages. The case is being handled through JAMS,a leading provider of arbitration and mediation services.
The arbitration demand details allegations of breach of fiduciary duty, fraud, and negligence against St. John. Harris’ lawyers are seeking a full accounting of the funds and a return of the stolen money.
St. John’s Response
As of now, St. John has not publicly commented on the allegations. His legal depiction has yet to issue a formal statement.
Key Takeaways
- Calvin harris accuses his financial advisor of stealing $22.5 million.
- The funds were allegedly used to finance the CMNTY Culture Campus development in Hollywood.
- Harris claims he was misled about the project’s financial viability and risks.
- An arbitration demand has been filed seeking recovery of the funds and damages.