The OG of the OC has always prided herself on her work ethic. Vicki Gunvalson often tore the other Real Housewives of Orange County gals to shreds over not wanting to work. Vicki has always made sure never to depend on her husband, which is both good and bad. The Bravo star has always been about having a good time, even if it meant hazing the new girls. But in a sad turn of events, Queen Vicki’s head is on the chopping block. Say it isn’t so, V!
What does the lawsuit against Vicki Gunvalson allege?
This week, In Touch revealed that Vicki was being sued for financial elder abuse and fraud. The woman in question, Diane Field, is one of a handful of defendants in the lawsuit. The suit was filed in May and listed Allianz Life Insurance Company, Coto Insurance & Financial Services, and another investment company. Diane said she and George Field invested “90 percent of their joint net worth in stocks and mutual funds with a firm in Orange County, California.”
In 2019, Diane stated she met with Vicki, who advised “she could help manage her finances.” And suggested Allianz annuities as a possible investment. Diane wanted to stay in the stock market because “she and George’s finances had always been in stocks and mutual funds, which she understood.” The suit claims Vicki introduced her partner Ali “as he had the expertise in the stock market, and that together they could put her in a safer diversified plan that would also help lower the taxes she had been paying.”
Was the defendant sold a bill of goods?
After the meeting with Ali and Vicki, Diane was told she could lower her income taxes and increase their financial capital. The suit read, “Looking back, Diane thinks the anguish and trauma she was enduring at this time contributed to her letting herself put her trust in Vicki and Ali as they seemed so sincere and appeared to be working for Diane’s best interest.”
The suit alleged that Vicki and Ali “kept reassuring her how safe this Allianz 222 Annuity was.” Noting it “kept mentioning that her income taxes would go down if she invested in this annuity and that her kids would be well-suited after she passed away. Vicki was very convincing, and Diane felt she could trust her.” Diane transferred her stock funds to a firm with Ali at Fidelity Investments. She was told to take out a life insurance policy without being told the annual cost would be $300k a year.
What has Vicki said about the lawsuit?
Diane was told to pay $300k two more times before she finally took her money out of the investments. In 2022, She confronted Vicki and Ali. Diane explained, “she felt uninformed by them and that the annuities and life insurance policy they convinced her to open did not seem to be the best investments for her, as they tie up large sums of money for a long time that she may never be able to use, for maybe longer than she will live or will be too old to enjoy.”
Diane said Vicki called her, and they modified her life insurance policy. She contacted Allianz in April 2024 to “see what the due date was.” Then “a representative at Allianz told Diane that she had over $600k in her account since she was previously paying $300k a year in premiums.” Court docs revealed Diane did not need to send any payments due to the surplus in her account.
In response to the lawsuit, Vicki’s legal team released a statement. It read, “Victoria Gunvalson is a well-respected insurance broker with more than 34 years of experience. She has helped more than 7000 clients. She vehemently denies each and every allegation set forth against her by Diane Field in this lawsuit.”
TELL US — WHAT DO YOU THINK OF VICKI’S LATEST LAWSUIT?
