"The richest real estate developer in America didn't spend a lot of words in cutting off one of his sons amid allegations of a high-flying con job in Beverly Hills. Donald Bren, chairman and owner of Irvine Company, issued a 12-word rebuke of son David, who has been embroiled in an alleged fraud scandal, the Daily Mail reported. We do not have a personal or business relationship with this individual, the elder Bren said in a statement."
"Bren promised buyers of memberships access to a $50 million fleet of supercars including Bugattis, Ferraris and Porsches, as well as amenities including luxury restaurants and exclusive wine and private smoking lounges. Angled as a SoHo House for car lovers, Bren dropped names of notable figures such as Mark Cuban and Larry Ellison, claiming them as founding members of the $14,500-per-month club."
Donald Bren issued a 12-word rebuke disavowing any personal or business relationship with son David. David Bren is accused of bilking investors out of millions by promoting The Bunker, a proposed $90 million private members' club in Beverly Hills that never materialized. The scheme allegedly promised a $50 million fleet of supercars, luxury amenities, and a $14,500-per-month membership while invoking famous names as founding members. Four lawsuits allege fraud, lease defaults, forgery, and trespassing; judgments total about $2.6 million, with no criminal charges filed yet despite referrals to LAPD and FBI. David has not appeared in court or retained attorneys in the Bunker cases.
Read at therealdeal.com
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