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.”
Read the full report from the Waco Tribune.
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