theJasmineBRAND.com exclusively reports, former NFL star Ray Lewis has reached a settlement in the $1.7 million dollar lawsuit he filed against his longtime friend & former lawyer, in which he accused the man of screwing him over by having him invest in risky ventures with both parties reaching a deal to dismiss the case.
Last year, the former NFL star sued his longtime friend and lawyer Marc Rosen accusing him of defrauding him out of 1.7 million by having him sign bank loans he didn’t know he was taking out.
Lewis explained he worked with Rosen for several years on various business and legal matters. He said in 2008 his lawyer approached him about lending his name and likeness to an entertainment complex he was working on called MVP Entertainment. Rosen told Lewis by having his name attached it would attract investors to the project.
The suit said that Lewis made sure that having his name attached would not affect him financially in anyway. Rosen explained to his client that none of his money would be used to invest and it would only be putting his name behind the project. Lewis agreed for his name and likeness to be used to attract investors.
Then in 2010, Rosen had Lewis sign a series of documents without explaining what they were. Lewis says he later found out that he signed bank documents to take out a 1.5 million loan and another 2.5 million loan, which he says he was never informed of when signing the documents.
The ex-NFL star said he learned about the loans in 2011, when Rosen approached him for 200k to fund his business venture. Lewis agreed to obtain another bank loan for 200k for a grand total of 1.7 million that his lawyer promised to pay him back.
However, he said that the business venture failed to launch and now he is still on the hook for the 1.7 million dollar loan. He filed suit against his ex-lawyer for malpractice, breach of contract and Fraud. He demanded Rosen pay him back the 1.7 million + damages for his actions.
Rosen fired back at the former NFL star saying he was never his full time lawyer and calls Lewis his “business partner”. He explained that BOTH of them made business decisions regarding the proposed entertainment complex. He says that Lewis was even a majority owner in the company with 47% stake in the business.
The lawyer even blasted Lewis and his claims he was never informed of the risks of the business venture, claiming Lewis is outright LYING about not being aware of the documents he signed. He demanded the entire lawsuit be thrown out and Lewis be awarded nothing.
Then on April 27th, docs were filed in the case explaining the NFL star and Rosen have reached a settlement in the 1.7 million dollar legal battle. Per the deal all claims against the other will be dismissed and the case will be closed. The terms of the settlement will remain confidential.