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Billionaire John Paulson files $190M suit against former business partner

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Paulson has filed a RICO suit, claiming his business partner Fahad Ghaffar spent $3 million of company money on Chanel, Louis Vuiton and clubbing.

John Paulson bans Puerto Rico partner Fahad Ghaffar from luxe hotelsagainst him alleging fraud — has now hit back with a RICO suit, claiming 21 counts of misconduct and demanding $189.6 million in damages.

Paulson and Ghaffar worked closely together on several Puerto Rico properties including La Concha Hotel, the Vanderbilt Hotel, the Condado Beach Club, the St. Regis Hotel and the Bahia Beach Resort.

The court papers claim he also racked up a huge tab on designer clothing, dropping more than $45,000 on Chanel, and $102,000 “in personal Louis Vuitton purchases in St. Barths.

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Billionaire John Paulson claims ex-business partner swindled millions to fund lavish lifestyle: lawsuitHedge fund billionaire John Paulson accused his former business partner Fahad Ghaffar of siphoning off $3.4 million from Paulson Entities to fund his lavish lifestyle.
Source: nypost - 🏆 91. / 67 Read more »