Just in time for the Real Housewives of New York City “legacy” spinoff, Aviva Drescher’s life is getting a little more interesting. According to a report from the New York Post, the former RHONY star’s husband, Reid Drescher, is being accused of extortion after he allegedly tried to leverage his celebrity connections to swindle a marijuana company into an investment deal.
So, here’s what happened. Reid controls a private equity firm called the Gateway Privileged Fund LLC. Reid and his company claimed to have access to a bunch of money, and they sought to invest in a Los Angeles-based marijuana grower called P&S Ventures LLC. In a lawsuit filed by P&S Ventures, they claim that Reid lied about having access to funds, which led them to accept a $5.4 million investment from Drescher’s LLC in exchange for stock.
The lawsuit says, “Drescher bragged that he was a cousin of Fran Drescher, who played The Nanny in the television series of that name, and that his wife, Aviva Drescher, was on Bravo’s Real Housewives of New York, claiming to have many celebrity contacts as a result.”
As it turns out, those “celebrity contacts” didn’t help his investment firm raise much money at all. In their 2019 securities filing, their records show that they raised only $1 million out of a projected $120 million — less than 1% of the goal.
Based on that track record, Reid was allegedly forced to admit that he didn’t have $5.4 million to invest. He ultimately only contributed $1.35 million to the weed company. The lawsuit claims that the shortfall in Reid’s investment was “highly destructive,” essentially sending P&S Ventures into a tailspin. Now, they’re seeking compensatory and punitive damages, and they also want their contract with Gateway Fund canceled.
Meanwhile, Reid’s lawyer, Richard Roth, claims that this lawsuit is all nonsense. In an interview with the New York Post, he clapped back at the case, calling it a “frivolous contract claim,” and promised a countersuit. He said, “The entity that is being sued will be filing some very serious counterclaims. We’re going to file a massive counterclaim here. We’re going to hold the plaintiffs responsible for their contractual obligations.”
TELL US – WHAT DO YOU THINK ABOUT AVIVA’S HUSBAND ALLEGEDLY USING HER BRAVO FAME AS A WAY TO SCORE INVESTMENT DEALS? WOULD YOU BE INTERESTED IN SEEING AVIVA AND REID BACK ON REALITY TV?
[Photo Credit: Bravo]
