Press Article
Baker Mayfield and Wife Sue Father’s Company Over Alleged $12 Million Theft
Tampa Bay Buccaneers quarterback Baker Mayfield and his wife, Emily Wilkinson Mayfield, have initiated a lawsuit against his father’s company, Camwood Capital Management Group, claiming over $12 million was stolen from them. Filed on November 22 in Austin, Texas, the suit features the couple and their business, Team BRM, LLC, as plaintiffs.
The couple alleges that between 2018 and 2021, the defendants, comprising various entities under Camwood Capital, transferred substantial assets from the Mayfields without authorization or adequate documentation. The lawsuit asserts that this money was utilized as the defendants saw fit, including funding acquisitions and meeting operating expenses.
As the Mayfields began to uncover the alleged misconduct, they claim the defendants attempted to conceal information and provided misleading explanations about the missing funds. The lawsuit categorically states, "Defendants took money from Plaintiffs with no plan or ability to repay it."
A settlement agreement reached in January required Camwood Capital to repay $11.741 million plus interest, starting from September 30, by refinancing an existing loan to generate necessary capital. However, the Mayfields assert the defendants have failed to make any payments and ignored requests regarding the breaches of the agreement.
The lawsuit reveals the frustration of the Mayfields, who allege that the defendants had no intention of honoring their obligations under the settlement agreement, complicating their path to financial recovery and accountability. As the legal battle unfolds, it raises significant questions about the management of family businesses and financial ethics.
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