Billionaire John Paulson has filed a motion to dismiss a $50 million lawsuit filed by his former business partner over allegations of fraud and breach of contract.Robert Taubman, new wife Caroline Summers host billionaires bash at architectural homeBillionaire John Paulson filed a motion to dismiss a $50 million lawsuit filed by his former business partner over allegations of fraud and breach of contract, claiming he did it to get media attention and distract from his own misdeeds.
In the recent filing, Paulson’s legal team stated, “There was no fraud, no deceit, no misconduct, and no misrepresentations on the part of the Paulson Defendants.” “Paulson responded with further empty promises of an instrument for ‘consideration’ as if the terms of the profits interest and conversion feature had not been set at the time of purchase,” the documents state.Paulson’s side claims that, “Once Paulson uncovered Ghaffar’s unlawful schemes, Paulson promptly terminated Ghaffar’s management of his investments, including his role as president and CEO of F40. Shortly thereafter, Ghaffar filed this action.
He added in a statement: “The notion that emails regarding a financial instrument are the same as delivering an executed document evidencing an investment is folly which we expect the Court will reject. In addition, we welcome the opportunity to disprove the unsupported and unfounded accusations against Mr. Ghaffar should Paulson be able to find lawyers brave enough to attempt to pursue the baseless claims.
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