Shaquille O’Neal claims he was stiffed by a partner in a legal cannabis business venture, and now the Hall of Famer is suing for more than $1 million to recoup his investment and damages.
Attorneys for O’Neal, 49, and another investor, Jerome Crawford, filed suit this week against Darron Campbell, his LLC, and 10 John Does, claiming that Campbell mismanaged the cannabis company, Viceroy LLC, wasted investments, and failed to properly account for spending.
Campbell did not immediately respond to a request for comment submitted by DailyMail.com to his personal website.
O’Neal and Crawford claim they invested $100,000 and $50,000, respectively, in 2016 ‘to pursue opportunities in the field of legal cannabis,’ according to the lawsuit obtained by DailyMail.com.
The problem, according to the filing, was that Campbell didn’t appear to do anything with that initial $150,000 investment.
‘By late 2017, Viceroy seemingly had no licenses, no revenue, and no operations,’ the filing reads. ‘Questions arose regarding defendants’ management of Viceroy and use of the invested funds.’
O’Neal and Crawford’s representatives then reached out to Campbell, demanding to see a current business plan and timetable, tax returns, financial statements, receipts, and copies of any licenses, contracts, bank statements and canceled checks.
According to the filing, 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 them, saying he could buy back their shares in Viceroy.
‘At this point, I am willing to agree to personally purchase the units [owned by Plaintiffs] over a period of time,’ read a message from Campbell to O’Neal and Crawford’s attorneys, which was included in this week’s filing. ‘If acceptable, I would pay Mr. Crawford and Mr. O’Neal on the first day of each quarter, a minimum of $10,000 until paid in full.’
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SOURCE: Daily Mail