Shaquille O’Neal is suing his former business partners after he says they mismanaged a legal cannabis business the former NBA great was invested in. Shaq and fellow plaintiff Jerome Crawford invested $150,000 in the company in 2016. Shaq says he became suspicious after noticing the company’s lack of progress and looked into things further.
According to TMZ, Shaq’s suit alleges that the company had no licenses, revenue, or operations. The green investment turned out to be a red herring. Now, O’Neal and Crawford are taking legal action in search of retribution.
The business agreed to pay Shaq and Jerome Crawford back in installments of $10,000 each starting in 2018. This agreement only came after Big Diesel threatened a lawsuit. The company paid the first $20,000, then disappeared.
Shaq and Jerome are seeking damages in excess of $1 million. He attempted to be a gentleman about the matter and even offered to set up a payment plan. Now, the company will face the full wrath of the Shaq legal team.
The suit alleges that the company failed to pursue the opportunities outlined to Shaq when he agreed to make his investment. He was unable to uncover any details on how his money was being spent. The focus of the company was “to pursue opportunities in the field of legal cannabis.”
Hopefully, Shaq can smoke these guys in court and get his money back. Legal weed has become a huge investment space for those seeking out new and profitable markets. It was only a matter of time before scammers saw such golden opportunities.
What do you think of Shaq’s lawsuit? Let us know in the comments!