News

Barry Zito 'Duped' By Friend In $3 Million Fitness Company

By Staff Writer | March 18, 2013 05:17 PM EDT

San Francisco Giants' pitcher Barry Zito is claiming a company called doFIT duped his company Barry Zito Enterprises out $3 million in a recent lawsuit.

 Zito is suing Clark, along with "fitness expert" Neal Spruce and bodybuilder Odd Haugen - who were hired to be the faces of dotFIT - and a total of five corporations in two complaints. Yahoo! reported Monday.

Like Us on Facebook

The former Cy Young award winner and two-time Wolrd Series champion alleges he was duped when he invested $3 million into the company. Zito alleges that Clark used their friendship to entice Barry Zito Enterprises to invest.

He alleged that Clark told him that dotFIT "was in the midst of a $20 million equity campaign that would allow dotFIT to exploit a valuable software interface and market it to health clubs worldwide."

"Clark further explained that he had others ready to invest and that if BZE did not act fast, it would lose its investment opportunity. But dotFIT now claims that it never sought to raise $20 million in equity," Zito said in the complaint.

Zito alleged he was getting a 15 percent minority share for his $3 million, but instead the money went to repaying loans, to profit sharing, and to salaries and bonuses for others.

Another company involved in the lawsuits, allegedly brought Madonna in, Zito said. The Lafayette Holding Company allegedly got Madonna involved by selling her 12.5 percent of interest in doFit.

The pop star's 12.5 percent that was originally sold to her was then sold to Go Mav, LLC, a few weeks later, the complaint said.

Zito is currently on the last year of his $126 million contract with the Giants.

 

 

Tagged :  world news

Featured

Editorial 08.02.15 | 02:39PM EDT

9 August K-Pop Comebacks We Are Really Excited To Hear

July was a crazy month full of great summer singles from some of K-pop biggest acts - and it looks like August is going to follow that trend with exciting new releases from HyunA, SG Wannabe, GD&TOP, B1A4 and many more.

Weekly Wrap Up 08.02.15 | 01:48PM EDT

17 K-Pop Songs You May Have Missed - July 2015

With so many great mainstream K-pop tracks out this summer, here are some songs that may have slipped under your radar when they were released, but definitely deserve a spin.

Weekly Wrap Up 08.02.15 | 12:52PM EDT

Hip-Hop Heatwave: Hottest Korean Rap Tracks Of July

Heat things up this summer with some of the best K-hip-hop releases of July from stars like Mad Clown, Tiger JK, LeeSsang, Jay Park and more.

08.01.15 | 01:31PM EDT

From K-Pop To Web Dramas: Korean Entertainment Industry Insiders Discuss The Next Hallyu Wave

Is a new Korean Wave on the horizon? According to industry insiders, the internet is fostering a new surge in the global popularity for all things Hallyu as web-based dramas gain popularity around the world.

KpopStarz Is Looking For Enthusiastic Entertainment Contributors Reach Millions On The Web.
Real Time Analytics