Picture Credit score: Carlos Delgado / CC by 3.0
Calvin Harris has simply gained $13.5 million in a mortgage dispute along with his former advisor, however the remaining authorized battle over $12 million in fairness investments continues.
Calvin Harris scored a win in his ongoing authorized conflict along with his former monetary advisor, Thomas St. John, whom he accused of embezzling hundreds of thousands from the DJ again in September. Although he’s getting again a cool $13 million, the Scottish artist nonetheless has one other authorized battle in opposition to St. John forward of him.
On Thursday, January 15, an arbiter within the Superior Courtroom of California in Los Angeles County ordered St. John and his associated entities to pay Harris $13,438,666.55 to fulfill a defaulted mortgage. The quantity covers the preliminary $10 million Harris invested plus curiosity, late expenses, administrative charges, and extra, making certain the DJ will get again his funds.
However the general battle continues in arbitration concerning the extra $12 million-plus Harris invested in St. John-led tasks. Then there’s additionally the allegations that St. John dedicated fraud to fund a failed actual property undertaking—which has already been foreclosed.
The majority of Harris’ litigation is centered across the improvement of the CMNTY Tradition Campus, a 460,000 square-foot improvement deliberate to be inbuilt Hollywood that by no means got here to fruition. Harris claimed that St. John knew the undertaking was bogus to start with however continued to take his cash on false guarantees.
“To this present day, [Harris does] not know the place [his] funding has gone or what’s has been used for,” his attorneys wrote within the preliminary submitting. “[St. John] had no intention of [Harris] really receiving again the total worth of his funding, by distributions or in any other case.”
Calvin Harris isn’t the one one pummeling St. John with lawsuits. The longtime monetary advisor is going through a separate—however very related—fraud swimsuit to the tune of $269,000 filed by DJ Eric Prydz, and a whopping $16 million swimsuit filed by lender Parkview Monetary.
