She’s been called a swindler, a grifter, and fraud. Taylor Armstrong of Real Housewives of Beverly Hills is probably one of the most controversial women in the history of the franchise. Amid accusations of embezzlement and domestic violence, her husband Russell Armstrong committed suicide, leaving Taylor on the hook for all of his (their?) past shady dealings. Although many don’t buy her claims, Taylor insists she wasn’t a willing cohort to her husband’s crimes. She alleges that his threats of violence induced her to as she was told in regard to his business deals.
In one such deal, Russell and Taylor were accused of stealing money from investors of MyMedicalRecords.com (MMR). Once sued by the company, the couple was forced to disclose each investor who was defrauded. The case settled, with Russell paying the company $250,000. When MMR learned that the pair had neglected to name three investors, they sued again, with Russell killing himself two weeks later. Once again, MMR and Taylor have reached a settlement. According to the Daily Beast, even that settlement had some Armstrong shadiness involved as well…
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Robert Lorsch, the CEO of MMR, explains that the settlement will save them money which would be wasted on trying the case. He says, “After many meetings with their side and going through various forms of settlement conversations, it became obvious that even if we won the battle, we could lose the war since collectability from Taylor at $1.5 million or more was questionable. So…we began the process of negotiating for personal property that we were told had very high values and a note for a nominal amount of money in case we didn’t get anything we bargained for.”
And that’s exactly what happened…in addition to Taylor’s engagement ring, which is estimated to be worth $250,000, MMR received two Hermes Birkin bags and the representation that Taylor wasn’t on the cusp of a windfall.
“The idea was we didn’t want to sign an agreement, take the ring, buy into this poverty story, and all of a sudden find out she signed a million-dollar deal,” Lorsch states. “That to us was a substantive part of the settlement and could leave the door open for more in the future.”
Oh, and as for those two Birkins? Yeah, they were knock-offs. Yikes!
Lorsch reveals, “The Birkin bags turned out to be fakes from a real housewife. Knowing our experience with the Armstrongs in the past, we trusted very little so we add the [banknote] at the last minute when there was no paperwork on the bags. At the end of the day, I think we will do OK with the ring…it got the case settled. We didn’t want to go out and spend over $100,000 at trial and maybe hundreds of thousands of dollars trying to recover [damages]. For us the chapter is closed.”
Wowsers!
WHAT DO YOU THINK OF THE SETTLEMENT? COMMENTS ON TAYLOR’S INVOLVEMENT?
[Photo Credit: Brian To/WENN.com]
