Scooter Braun Is Getting Lawsuits For Frauds

[RAMROD 103,005]

Scooter Braun, the music industry megastar who launched Justin Bieber’s career, is now afflicted with a significant legal dispute over actions in getting a new private equity fund off the ground. On Thursday night, two events occurred:  Peter Comisar, who spent two decades at Goldman Sachs and then became vice chairman of investment banking at Guggenheim Securities, filed suit in Los Angeles. Nearly simultaneously, Braun filed a petition demanding arbitration.

According to the complaint against Braun and top Hollywood business manager David Bolno, the two decided in 2016 to expand their empire, settled on a private equity firm as their vehicle and began recruiting Comisar. Through his petition, Braun says he poured in excess of $5 million into the launch of SCOPE Capital Management plus a $3 million salary for Comisar.

Meanwhile, alleges Comisar, Braun hasn’t successfully done fund raising.

“Not one of Braun’s contacts agreed to invest any amount, much less the hundreds of millions Braun had promised. Braun had to explain to Comisar, tail between his legs, how he had asked David Geffen, his supposed godfather, to invest in SCOPE, only to be told by Geffen that he did not view Braun as someone with whom Geffen would invest. Braun got the same brush-off from Jimmy Iovine, Haim Saban, and the Rueben, Soros and Mittal families — indeed, Braun was rejected by each of his promised close relationship investors. The truth was that Braun’s relations valued him as someone to socialize with, but to whom they would never entrust their millions.”

Asserting a causes of action of fraud, breach of fiduciary duty and breaches of contract while demanding $200 million in damages, Comisar’s complaint adds, “When it came to fundraising, Braun turned out to be a sheep in wolf’s clothing, ultimately admitting to Comisar that despite his bravado, asking people to invest made him ‘uncomfortable’ and he therefore refused to fully engage in the fundraising efforts. In other words, as Comisar ultimately found out when Braun pulled out entirely, Braun had never intended to be fully engaged as he had promised Comisar he would.”

Full story at Source:

https://www.hollywoodreporter.com/business/business-news/scooter-braun-hit-with-fraud-suit-private-equity-firm-1234962451/

[Anderson123 34,792]

 

[PlastiscGuy 20,477]

Iktr 

 

[FentyGa 14,340]

[weed 70,637]

Scooter Fraud 

[MonSwiftAnton 3,679]

I love to see it 

[Quentin 5,145]

Scooter Braun a fraud? We been knew! 

[Franch Toast 25,843]

[BradleyCooper 1,957]

[gagaxsebert 5,804]

Scooter's karma rn:

[TheLocals 461]

Karmas a bitch... WE WON 

[JusKeepBreathin 19,311]

Even the Soros family turned Scooter down.