Profiteer Marcos Lemonis faces $30 million lawsuit
Presenter of NBC Universal and CNBC Marcos Lemonis She was sued for $30 million by the trustee of a Pennsylvania design firm that went bankrupt after appearing on The Lemonis Show: profit.
The Los Angeles Times He posted an article Sunday about allegations of fraud and breach of contract in the middle of a lawsuit brought by Precise Graphix. The interior decoration company was founded by the brothers Keith And Dean Leidenwho was a fan profitthe Lemonis Show – in which he usually invests in distressed businesses, offers them his expertise and fixes the company in an effort to make his investment profitable.
The lawsuit says Precise Graphix was making $4 million a year in revenue when Lydens reached out to Lemonis, and they did so because they hoped to make him an investor to help the company grow. However, once Lemonis partnered with the company, things didn’t go as Lydens expected, according to Los Angeles Times Report:
NBC used producers and Lemonis to create chaos, divide business owners and burden the company with debt, leading to its demise, the trustee alleged.
The complaint said Lemonis acquired a third of the company’s stock and control of its decisions without making an initial investment of $270,000 in Precise Graphix. Funding has been linked to the redesign and remodeling of two global camping sites within three weeks, according to the lawsuit. Lemonis is the chairman and CEO of RV retailer Camping World Holdings, in which he owns more than 40% of the stock.
The company allegedly had to complete projects at a loss, most of which were for Lemonis-controlled entities. In 2021, the debt-laden company filed for $6 million debtor bankruptcy after Lemonis did not sign a line of credit renewal.
Additionally, the Guardian claims, during filming, that the crew told the owners they were “boring” and pushed the staff to get details about the relationship between the brothers, who were portrayed as incompetent.
The article goes on to describe how the Precise Graphix is involved in profit He contributed to the tensions between Linden, even as Keith Linden eventually acquired full ownership of the company after Lemonis had previously bought Dean’s stake. The Precise Graphix lawsuit follows three other defamation and fraud lawsuits filed by other companies that also took part in the show.
“NBCUniversal, and then a scythe [the production company]a mob-style scam that has ridiculed the businesses they promised to offer, such as the Precise Graphix, and tarnished their reputation and image” Lynn E FeldmanThe guardian said Chapter VII in the case.
Machete, NBC, and CNBC declined to comment on Los Angeles Timesalthough Limonis claimed the charges were unfounded, saying “I will not continue to allow people to create their own narrative based on false truth. I work hard for money and respect it and take any attempt to unethically extract it from me very seriously.”
Lemonis’ statement comes after he filed a lawsuit against Keith Linden last year, accusing him of breach of contract.
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