Kevin Costner Launches $15 Million Fraud Lawsuit Against Former Business Executive
In the legal papers, the ‘Let Him Go’ star accuses Jim Wilson, who served as executive vice president of his Tig Productions company, of refusing to sign over the rights to another firm he helped set up.
AceShowbiz –Kevin Costner is taking his former business executive to court. It has been reported that he’s suing Jim Wilson in a $15 million (£11 million) fraud lawsuit.
The veteran actor claims Wilson, who served as executive vice president of his Tig Productions company and as a producer for his movies “Dances with Wolves” and “The Bodyguard”, is refusing to sign over the rights to Good Ones Productions, Inc., a firm he helped Costner set up in 1992, even though he hasn’t been involved in the company since at least 2004.
In legal papers filed in Los Angeles County Superior Court, and obtained by The Blast, Costner explains he has been the sole director and head of the brand for the past six years, but wanted to start winding down the company last summer (20).
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His lawyers reached out to Wilson to formally transfer bare legal ownership of Good Ones Productions stock to Costner, but he has reportedly refused to sign the document, unless he is paid $500,000 (£370,000).
Costner argues Wilson made over $35 million (£25.7 million) from his business relationship with the star over the years, but he “failed to follow corporate formalities” regarding Good Ones Productions, and took no interest in developing or financing any of its projects.
He is now suing for conversion, fraud, breach of fiduciary duty, and unjust enrichment, claiming he should be entitled to $15 million in damages as a “direct, actual and foreseeable result of Wilson’s conversion.”
Wilson has yet to respond to the allegations.
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