‘RHOC’ Star Vicki Gunvalson Sued For Alleged Financial Abuse Of 74-Year-Old Client

Vicki Gunvalson

‘RHOC’ Star Vicki Gunvalson Sued For Alleged Financial Abuse Of 74-Year-Old Client

Reality star Vicki Gunvalson is at the center of a new lawsuit.

Reports state that the Real Housewives Of Orange County cast member is being accused of financial and elder abuse, allegedly stealing a significant sum from one of her older clients.

Vicki Gunvalson

Court documents obtained by In Touch state that Vicki Gunvalson, 62, and her business Coto Insurance were named in the suit, filed by a 74-year-old woman named Diane Field. The plaintiff alleges that she was connected with the reality star through a mutual friend and began getting investment advice from her. After realizing that their business ventures weren’t suited for partnership, however, Diane Field says Vicki Gunvalson convinced her to go into business with her partner Ali, with her claiming – according to the court document:

“[Ali] had the expertise in the stock market, and that together they could put her in a safer diversified plan that would also help lower the taxes she had been paying.”

Vicki Gunvalson

Field alleges that she and her husband had built an investment portfolio of about $6 million, and kept 90% of their net worth in stocks at a specific firm in Orange County, California, for more than 20 years. Upon meeting Gunvalson and Ali, which Field says also happened while her husband’s health had taken a “deep dive,” the plaintiff claims she was convinced to move her investments from her longtime firm to Ali’s Allianz 222, under the promise of less tax payments, noting in the lawsuit:

“Looking back, Diane thinks the anguish and trauma she was enduring at this time contributed to her letting herself put her trust in [Vicki] and [Ali] as they seemed so sincere and appeared to be working for Diane’s best interest.”

Vicki Gunvalson

The complaint adds:

“[Vicki] kept reassuring her how safe this Allianz 222 Annuity was and also kept mentioning that her income taxes would go down if she invested in this annuity and that her kids would be well-suited after she passed away…[Vicki] was very convincing, and Diane felt that she could trust her.”

Despite believing she had scored a good deal, Field says she was duped into taking out a life insurance policy that cost $300,000 per year, though she was under the impression the hefty sum was a one-time payment. She ended up revising the plan to a policy that instead costs $100,000 per year, but is accusing Gunvalson of using fraudulent sales tactics” and claims “her promises that this annuity would help lower her income taxes” convinced her to transfer money to the Allianz 222 Indexed Annuity.

Vicki Gunvalson

A summary of Field’s payments in the suit reportedly reads:

“As of approximately April 10, 2024, the accumulation value of Diane’s Allianz life insurance policy (Policy No. xxxx4073) was $661,816.74, cash surrender value was $387,497.96 and the death benefit of $3,539,077.00. The listed agents are still both [Vicki] and [Ali]. The total premium Diane has paid on this policy as of April 10, 2024, was $1,000,000…As of approximately April 10, 2024, the value of Diane’s Allianz 222 IRA annuity (Policy No. xxxx1487) was $750,506.21.”

Field further claims that Gunvalson “repeatedly contacted” her in March and April of 2024 to pay another $100,00 premium payment she allegedly owed for her life insurance. However, Field says she spoke with Allianz about the issue and a representative stated she still had over $600,000 in the account, and she did not need to send any payments. Field is suing for an unspecified amount of damages.

Vicki Gunvalson

At this time, It does not appear that Gunvalson has reacted to the suit publicly.

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