Dad owns an investment firm and took about $12mm without even telling his son.
Tampa Bay Buccaneers quarterback Baker Mayfield filed a lawsuit against his father and brother’s company, Camwood Capital Management Group, for nearly $12 million for breach of a settlement agreement, according to court documents.
The civil lawsuit, filed in U.S. District Court on Nov. 22, lists Mayfield, his wife Emily and their company Team BRM, LLC as the plaintiffs. Along with Camwood Capital, the lawsuit lists the defendants as Texas Contract Manufacturing Group, Unitech Tool & Machine Inc., Apex Machining, Inc. and Lor-Van Manufacturing Inc.
James W. Mayfield, Baker’s father, is the senior managing director of The Camwood Group, and Matt Mayfield, Baker’s brother, is the managing director. Camwood Capital, a private equity firm in Austin, Texas, is one of two divisions of the investment firm The Camwood Group.
The lawsuit says the defendants, through “a collection of interconnected entities with common ownership,” transferred more than $12 million from the plaintiffs to themselves without the plaintiffs’ knowledge.
From 2018 to 2021, the defendants transferred “substantial sums of money” from Baker and Emily Mayfield’s personal accounts to Team BRM’s accounts and then to Texas Contract Manufacturing Group’s accounts. The Mayfields believe the defendants took the money without thinking it needed to be repaid, per the lawsuit.
www.nytimes.com
Tampa Bay Buccaneers quarterback Baker Mayfield filed a lawsuit against his father and brother’s company, Camwood Capital Management Group, for nearly $12 million for breach of a settlement agreement, according to court documents.
The civil lawsuit, filed in U.S. District Court on Nov. 22, lists Mayfield, his wife Emily and their company Team BRM, LLC as the plaintiffs. Along with Camwood Capital, the lawsuit lists the defendants as Texas Contract Manufacturing Group, Unitech Tool & Machine Inc., Apex Machining, Inc. and Lor-Van Manufacturing Inc.
James W. Mayfield, Baker’s father, is the senior managing director of The Camwood Group, and Matt Mayfield, Baker’s brother, is the managing director. Camwood Capital, a private equity firm in Austin, Texas, is one of two divisions of the investment firm The Camwood Group.
The lawsuit says the defendants, through “a collection of interconnected entities with common ownership,” transferred more than $12 million from the plaintiffs to themselves without the plaintiffs’ knowledge.
From 2018 to 2021, the defendants transferred “substantial sums of money” from Baker and Emily Mayfield’s personal accounts to Team BRM’s accounts and then to Texas Contract Manufacturing Group’s accounts. The Mayfields believe the defendants took the money without thinking it needed to be repaid, per the lawsuit.
Buccaneers’ Baker Mayfield suing father’s company for $12 million for breach of settlement agreement
Under the contract terms, Mayfield can demand the full outstanding balance to be paid immediately, per the lawsuit.
www.nytimes.com
