Real Housewife Taylor Armstrong And Soon To Be Ex-Husband Being Sued For More Than A Million Dollars
By Mack Rawden 2011-07-29 20:18:42
Going through a divorce probably sucks, but it must pale in comparison to being a co-defendant with that former lover in a separate lawsuit at the same time. Thatís the hand Real Housewife Of Beverly Hills Taylor Armstrong is being forced to play with after a business deal involving her husband (not for long) went south. No, the coupleís not being accused of a Ponzi scheme, but the charges are nearly as underhanded and nefarious.
This is a little confusing; so, Iíll try and explain it as simply as possible. At one point, Russell Armstrong was the CEO of a company called NuWay Digital Systems. This aforementioned venture capital firm invested in a burgeoning dotcom startup called MyMedicalRecords.com. After MyMedicalRecords became a known and sought after commodity, Armstrong began selling shares of NuWay Digital Systems under the pretext that investors were purchasing MyMedicalRecords when really, they were purchasing shares in a company that owned a percentage of MyMedicalRecords. Armstrong was confronted with the evidence and agreed to a private settlement, but now heís being sued for breaking that agreement. Think about it like this. Letís say I owned an investment firm, and that company in turn purchased one percent of Apple. It would be illegal and poor form for me to then sell you shares of my investment firm under the pretext that you were buying Apple. You donít want my company. You want Apple.
Russell Armstrong is accused of using the profits from said skirting of the truth to start a restaurant with Eva Longoria and remodel the house he shared with his wife Taylor. Iíd imagine thatís why she ended up dragged into this mess. According to TMZ, MyMedicalRecords is seeking 1.5 million. No word yet on whether the Armstrongís will settle or take this to trial, but when their chosen course of action becomes public, weíll be sure to bring you those details.