A-Rod sued by ex-brother-in-law over shady real estate deal
Just think, six weeks from now we’ll be focusing on Alex Rodriguez the baseball player as he attempts to salvage what’s left of his baseball career. For now, though, it’s more of Alex Rodriguez the defendant, as he’s once again the subject of a lawsuit.
According to the Miami Herald, A-Rod’s ex-brother-in-law, Constantine Scurtis, filed a civil lawsuit in Miami-Dade court on Dec. 17, claiming that Rodriguez went behind his back to cut him out of a major real estate deal the two made in early 2003.
Back in 2003, Rodriguez and Constantine Scurtis, the brother of his then-wife Cynthia, agreed to invest in properties in Edgewater. Which, considering that Edgewater is now the city’s biggest developer hotspot, was actually a great idea.
The two formed multiple limited liability companies to snatch up around 11 properties in the areas between Northeast 24th and 61st Streets. According to the agreement, A-Rod provided the financial backing and was entitled to 94.99 percent of the profit.
Meanwhile, Scurtis’s ACREI LLC joined in as a general partner. Between his personal stake of 0.01 percent and ACREI’s share of 4.99 percent, Scurtis was supposed to get a windfall of five percent of the profits.
Scurtis claims that he had the executive power to approve all sales of the property, but that A-Rod and other companies involved divested the properties without consulting or compensating him. He’s seeking at least $15,000 in damages as well as court fees on grounds of multiple counts of breach of contract and one count of improper conveyance.
If you’re interested, you can read all of the details here:
Whoever said going into business with family was a bad idea probably never even considered something like this.
So far, A-Rod’s camp has yet to respond to the suit, but it’s definitely something that will occupy his thoughts as he prepares for his comeback.
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Mark Townsend is a writer for Big League Stew on Yahoo Sports. Have a tip? Email him at [email protected] or follow him on Twitter! Follow @Townie813
