Baker Mayfield has escalated the authorized battle over $12 million allegedly owed to him by the monetary agency owned by his father.
Mayfield sued his father’s agency, Camwood Ventures, plus subsidiaries final yr over $12 million in funds that went lacking.
Mayfield’s father, James W. Mayfield, is almost all proprietor of Camwood and the quarterback’s brother Matt can be a stakeholder.
Final week, Mayfield and his spouse Emily filed a brand new go well with towards Camwood in U.S. District Court docket, claiming the 2 sides had reached a confidential settlement earlier this yr however that the phrases haven’t been fulfilled, based on Texas NBC affiliate KXAN.
The primary alleged time period of the settlement was for $11.7 million plus curiosity to be repaid starting this previous September.
Mayfield’s attorneys additionally claimed that the aforementioned settlement included the refinancing of a mortgage to assist the agency repay him, and entry to Camwood’s books.
Nevertheless, Mayfield’s attorneys declare that the quarterback has not but acquired any of the owed cash nor acquired entry to the books.
“To date, Camwood Capital has not repaid even one dollar under the Settlement Agreement, Defendants have failed to refinance their existing loan, and Defendants have not provided Plaintiffs with access to their books and records,” the go well with claimed. “As a result, Plaintiffs have been left with no choice but to file suit for breach of the Settlement Agreement to recover the assets improperly taken from them.”
Mayfield’s lawsuit claimed that Camwood took $12.2 million from him with out his data and transferred it to a number of subsidiaries between 2018 and 2021.
The cash, the go well with alleges, was used to cowl working bills of the companies.
His lawsuit seeks “no less than” $11.74 million — as well as curiosity, lawyer charges and different prices — plus “any other relief that the Court deems just and proper.”
Mayfield is the beginning quarterback for the Buccaneers, who’ve a 5-6 report this season and are one sport behind the Falcons for the highest report within the NFC South.
