According to reports, two of Chip Gaines’ former business partners are accusing the “Fixer Upper” star of fraud.
The Waco Tribune reports the two former partners in Magnolia Realty are accusing Gaines of defrauding them by “withholding information about his impending fame and forcing them to accept cheap buyouts to leave him sole owner of the company and Magnolia name.”
The former partners, both attorneys who reportedly helped Gaines launch the now-successful real estate company, are seeking more than $1 million. The lawsuit also names Magnolia Realty, Scripps Networks and High Noon Productions as defendants, the Tribune reports.
According to the Tribune, the lawsuit claims Gaines asked the two attorneys if he could buy out their two-thirds ownership interest in Magnolia Realty, and two days after he paid for their share of the business, he announced “Fixer Upper” would be broadcast on HGTV.
Gaines’ attorney, Jordan Mayfield, told the Tribune the former partners are trying “to take advantage of the hard work and success of Chip and Joanna Gaines.”
- “Fixer Upper” teamed up with Robert Griffin III to remodel home of veteran, wife with lung cancer
- If Chip and Joanna Gaines could live anywhere, would it still be in Texas?
- From flat broke to HGTV’s “Fixer Upper” for furniture maker Clint Harp
“Fixer Upper” stars’ church ties spark internet storm about LGBT views
IN OTHER NEWS: