Patrick Willis suing business partner for millions
Patrick Willis’ promising story of athlete turned businessman just received a disappointing turn.
Willis is suing his business partner for millions, as he accuses the man of fraudulently inducing the former 49ers linebacker to invest with him.
Inc.com read through the lawsuit and explains that Willis is suing Eren Niazi, founder of Open Space Storage, for at least $2 million in disputed real estate, as well as unspecified monetary damages. Willis accuses Niazi of inducing the former 49er into investing with him.
“He represented in conversations that [Willis’s] money would be prudently invested for safekeeping and growth,” the lawsuit says of Niazi. “In fact those representations were knowingly false, and were intended to induce [Willis] to invest his money through Defendant Niazi. Niazi exercised discretionary control over those funds without [Willis’s] knowledge or consent.”
What did the fraud entail? Niazi supposedly told Willis they should open joint accounts together, but it turns out only Willis funded them. He convinced Willis to open three separate LLCs for the investments. Niazi allegedly used the money from one of the LLCs to purchase three residential properties in California, which appears to account for the $2 million in disputed real estate.
Open Space Storage, the tech company for which Willis was proudly working after retiring from the NFL following the 2014 season, appears to be dissolving, according to Inc. The company’s website does not work, and they reportedly do not have any customers.
As a twist, Niazi is currently in jail, as he is being held without bail after being charged with use of a firearm, discharging a firearm, and endangering a child.
A trial in the matter is scheduled for Feb. 2017.
