Print and Go Back ESPN.com: NBA [Print without images]

Wednesday, March 23, 2011
Carlos Boozer sues over investment

ESPNChicago.com

Attorneys for Chicago Bulls forward Carlos Boozer have filed a lawsuit against a company in Florida, alleging Boozer and his ex-wife were "fraudulently" and "maliciously" induced to invest $1 million in the company, which squandered the investment.

Boozer and his ex-wife, Cindy Boozer, invested the money in InnoVida Holdings, which was involved in building low-cost housing for disaster victims and indigent people throughout the world, according to Boozer's attorney David Nunez.

The Boozers are suing InnoVida, along with president Claudio Osorio and his wife, Amarilis, who is the vice president. Chief financial officer Craig Toll also is named.

The suit includes claims of fraud and breach of contract, and that the Osorios fraudulently made InnoVida appear as attractive an investment opportunity as possible in order to subsidize the Osorios' "high-flying lifestyles."

Nunez said Wednesday that the lawsuit is "stayed" -- or stalled -- because the Osorios filed individual bankruptcy claims. The Osorios will appear in court Monday, Nunez said.