“From January 2018 through the present, more than $12 million was transferred from Petitioners’ personal account and routed through various entities and investments,” the court filing claims.
“Petitioners have been unable to account for, or obtain information about, the current location and/or status of those funds.” Baker Mayfield and his wife, Emily, filed a court petition in Texas seeking to find out if $12 million invested with a firm where the quarterback’s father and brother work was misappropriated.Texas Contract Manufacturing Group is a subsidiary of Camwood Capital Management Group, while Apex, Unitech and Lor-Van are subsidiaries of the Texas Contract Manufacturing Group, the filing says.
“A substantial sum of Petitioners’ assets were transferred out of Petitioners’ personal accounts to TCMG, potentially at the direction and supervision of Camwood Group and/or Camwood Ventures, and were used by TCMG to fund certain investments, make certain acquisitions, or to fund certain loans,” the petition claims.Baker and Emily Mayfield in 2018.“It is too early to know whether a suit is likely or even anticipated,” the petition said.
“At this time, Petitioners have been deprived the information and documents needed to analyze whether their assets have been misappropriated.”Mayfield has earned about $48 million in his five-year NFL career,
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CBSNewYork - 🏆 268. / 63 Read more »