Baker Mayfield, along with his wife and company, has taken legal action against his father’s company, alleging that a sum of $12 million was unlawfully taken from the famous ex-University of Oklahoma quarterback.
The Mayfields have filed a lawsuit in the Western District of Texas in Austin on November 22. They aim to recover “substantial assets that were improperly taken” and never repaid. The lawsuit alleges that Baker and Emily Mayfield had over $12 million taken from them between 2018 and 2021.
According to the lawsuit, a group of related entities with shared ownership illicitly moved over $12 million from Mayfield without proper authorization, documentation, or accurate record-keeping. The defendants allegedly utilized the funds as they saw fit, which included financing acquisitions and covering various operating expenses, such as meeting payroll obligations.
The Mayfields assert that as they delved into the knowledge regarding the purported misconduct and pursued clarifications, the defendants – Camwood Capital Management Group, LLC; Texas Contract Manufacturing Group, Inc.; Unitech Tool & Machine, Inc.; Apex Machining, Inc.; and Lor-Van Manufacturing, Inc. – endeavored to conceal the pertinent information, evade inquiries, and offered deceptive explanations.
According to the lawsuit, the defendants took money from the plaintiffs without any intention or capability of repaying it.
In January, the Mayfields and defendants reached a mutual agreement on a confidential statement and release.
According to the agreement, Camwood Capital was required to make payments totaling $11.741 million, along with interest, starting on Sept. 30. Additionally, the defendants had a responsibility to refinance an existing loan in order to generate funds for repaying the plaintiffs. Furthermore, they were obligated to grant access to their books and records.
According to the lawsuit, the defendants did not have any intention of compensating the plaintiffs and fulfilling their obligations as stated in the Settlement Agreement. They have failed to make any payments and have disregarded all of the terms outlined in the agreement. Furthermore, the defendants have not responded to the plaintiffs’ attempts to address these breaches.
