Friday, May 11, 2012
Nicky Hilton Sues Ex Business Partner For Fraud
Nicky Hilton's high end fashion line flopped and it's all because her partners were irresponsible and spent the money meant for the business.
She inked a deal with Eliyahu Cohen and the Asher Group to launch Nicky Hilton Worldwide which would market high end fashion products under Nicky's name.
Hilton claims the Asher Group promised to provide $4.9 million in financing for the operation and pay Nicky a guaranteed annual salary of $250k plus a 10% increase every year.
But in a lawsuit filed in L.A. County Superior Court, Nicky claims the Asher Group dropped the ball failing to secure the $4.9 million and never paid her salary and spent what ever money the company did have on non work related expenses.
Hilton claims Asher and Cohen's irresponsible conduct caused her company to crumble leaving Nicky to "clean up the mess." Now, she's demanding $5 mil in damages to make things right.