Stan Lee’s estate has taken a step closer to ending a messy legal battle involving allegations of exploitation and elder abuse among the comic book legend’s inner circle, settling a lawsuit against Lee’s former business manager Gerardo. “Jerry” Olivares.
Lee’s estate has decided to dismiss the claims against Olivares, according to a court document filed Monday. Terms of the agreement were not disclosed. The settlement does not include claims against Lee’s former attorney Uvi Litvak.
The four-year legal saga that resulted the hollywood reporterThe investigation into elder abuse allegations centers around an ugly battle over Lee’s estate involving his daughter, JC, and the people allegedly manipulated into exploiting her famous father. Lee accused JC, her only son and heir to her estate, of verbally abusing her. THR reported that JC’s outbursts turned physical during a conflict over money.
Stan Lee sued Olivares and Litvak in 2018, calling them “unscrupulous businessmen, sycophants and opportunists” who tried to take advantage of him after the death of his wife, Joanne Lee.
Olivarez, a florist turned publicist, entered Lee’s inner circle as a consultant to JC and Joan’s various business ventures before serving as Lee’s attorney after Joan’s death. He received the title of “Senior Counselor” and took over the duties of Lee’s caretaker.
“Jerry Olivarez and JC Lee, Stan and Joan Lee’s only child and trustee of the Lee Family Trust, are pleased to announce the settlement of their litigation,” Olivarez’s attorney Donald Randolph said in a statement Wednesday. “The genesis of this dispute was the unfortunate manipulation of Stan Lee and his family by certain individuals, not named in the lawsuit, who intended to wrongfully abuse Jerry Olivares. “These individuals exerted undue influence on the Lee family and accused Jerry Olivarez of malicious acts he did not commit.”
According to the complaint, Olivares fired Stan Lee, a 26-year-old banker, along with his lawyers and transferred approximately $4.6 million from his bank account without authorization. After convincing Lee to sign a power of attorney on his behalf, Olivarez allegedly appointed his own attorney, Livtak, to act as Lee’s attorney without disclosing any conflicts of interest.
Before his death, Lee alleged that Olivares tricked him into obtaining a $300,000 loan for a venture posing as a non-profit organization dedicated to racial peace, bought an $850,000 condo with his own money, withdrew nearly $1.4 million from their accounts through a series of wire transfers. , and he replaced it. his will. She alleged fraud, financial abuse of the elderly, and misappropriation of name and image, among other claims.
“Olivares broke his trust with Lee and JC With Lee, Lee and JC Knowledge of Lee’s confidential business operations and estate planning and ability to deceive Lee due to his advanced age, all in a secret and deliberate attempt to deceive a Lee into several schemes. and financial misconduct that benefited Olivarez and disqualified Lee,” the complaint reads.
Litvak remains a defendant in this case. In 2019, a judge granted a motion to refer the dispute to arbitration. Lee filed a lawsuit against him for legal negligence and breach of fiduciary duty. Livtak’s lawyer did not respond to a request for comment.
Los Angeles prosecutors are also investigating a case against Keya Morgan, Lee’s former business manager. He was charged in 2019 with theft, embezzlement, fraud and wrongful arrest of an elderly person. Lee named him one of the “bad actors” who tried to manipulate him in court. In 2018, Lee filed a restraining order against Morgan. He was accused of isolating Lee from his family and friends and embezzling more than $5 million in artwork, money and assets. Lee’s former business and asset manager Bradley J. Herman is a witness for the prosecution.
Morgan, who accompanied Lee to the premiere of the Marvel movie and acted as its publicist, was allegedly behind Lee’s $1 billion lawsuit against Pow! It’s fun. Lee, who founded the company in 2001, claimed he was unduly influenced by giving away his intellectual property and similar rights. He later dropped the lawsuit, which JC pursued. A federal appeals court in 2020 reversed a ruling awarding $1 million in fines to Paw! Entertainment, who argued that JC’s lawsuit lacked merit in the first place, but allowed the dismissal order to take effect.
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
