by Cedric ‘BIG CED’ Thornton
The San Antonio Spurs Hall of Famer filed a lawsuit against his business partner, Daniel Bassichis, alleging misappropriation of funds
NBA Hall of Famer David Robinson has recently filed a lawsuit against his business partner, Daniel Bassichis, alleging misappropriation of funds and seeking $34 million in damages.
According to the San Antonio Express-News, the paperwork was filed Dec. 12 in Texas Business Court by Robinson, the Admiral Capital Group, and two of the group’s subsidiaries against Bassichis and his companies, Vero Capital GP, LLC, and Us Living Structured Fund LP.
Robinson claims that Bassichis diverted tens of millions of dollars to finance a new business venture without informing him. The former basketball player is accusing Bassichi of misappropriating $18 million from one of the Admiral Capital Group’s LLCs to Bassichi’s real estate venture without getting approval from him.
The lawsuit alleged that Robinson’s business partner breached fiduciary duty, committed fraud, committed conversion, committed tortious interference, engaged in civil conspiracy, committed accounting fraud, and breached good faith and fair dealing.
Bassichi did respond to Robinson’s lawsuit in an email to the media outlet.
“While disputes between partners unfortunately arise, this matter is an isolated business disagreement regarding the wind-down of several assets and related issues, and I am confident it will be resolved quickly,” Bassichis wrote.
RELATED CONTENT: Stand Up! Georgia State Reps And Law Enforcement Rebuke Sheriffs’ Group For Seeking Fees From Sexual Assault Survivor Judge Glenda Hatchett
Source: Black Enterprise
