Bill Hutchinson, a real estate mogul at the center of a sexual assault scandal, has filed a lawsuit against Kaaboo founder Bryan Gordon & president Seth Wolkov
William Hutchinson, the 63-year-old Texas real estate developer and reality tv personality listens to Judge Karen Robinson in superior court in Newport Beach, CA on Tuesday July 13, 2021.Bill Hutchinson
, an eccentric real estate mogul who was arrested and charged earlier this month with sexually assaulting two teenagers, has filed a lawsuit against Kaaboo founder, claiming that the Colorado businessmen defrauded him out of $3 million and misrepresented key aspects of the failed festival at AT&T Stadium in 2019.
"KAABOO Texas was a colossal failure and was completely mismanaged from an operational standpoint" wrote attorney with law firm Chipman Brown Cicero and Cole in his complaint, filed July 29 in Delaware's U.S. District Court. Organizers had hoped as many as 190,000 attendees would attend the event, but only 20,000 showed up, due to poor marketing and"an awkward gathering of touring acts" that were"past their prime," Stuhlman alleges.
"In addition to the negligible attendance, KAABOO Texas grossly underestimated its financial losses in its first and only year by $8 million, vastly eclipsing the original investment projections for the initial three-year period," Stuhlman wrote. An investor update obtained last year byshowed that the event lost a total of $19 million in its first year, far above the $11 million Gordon had forecast when pitching the event to Hutchinson in 2018.
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