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Rihanna Offered $10 Million Settlement - Bad Real Estate Deal in LA

By Staff
Feb 19, 2014

Rihanna (real name Robyn Fenty) made a bad real estate deal in Los Angeles back in 2009 on the advice of her financial professionals, and it appears that was bad advice and she has now been offered a $10 million settlement to make it right.

Should she take the newly offered deal?

Rihanna had taken action against Peter Gounis and his firm Berdon LLP, claiming their poor financial advice had led to her losing a reported $9 million in 2009, and though she was initially suing for $35 million, the New York Post newspaper claims the firm have offered a settlement and the paperwork to end the case will be signed later this week.

In her claim, Rihanna - whose real name is Robyn Fenty - said the firm advised her to buy a $7 million house, even though they knew she was ''bleeding cash''.

Her lawyer Edward Estrada wrote in legal documents: ''The defendants advised Ms. Fenty by e-mail that purchasing a home in Los Angeles 'would be a good investment' despite knowing Ms. Fenty was experiencing financial difficulties.''

The accountant was said to be aware the house was rotting from water and mold damage and needed over $1 million spending on improvements and repair work. The property was later sold at a $2 million loss.

In the lawsuit, Rihanna also claimed her 2009 'Last Girl on Earth' tour was losing money but she was never warned of this by the accountants.

Berdon previously claimed Rihanna's own ''financial action or inaction'' or those of people working for her caused her to lose money, not their decision-making.

They also dismissed the 'Only Girl in the World' star's previous objection she paid an ''above-average'' commission of 22 per cent as something she had signed off on herself.

The 25-year-old star is now worth an estimated $43 million.

© Bang Showbiz

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