According to the New York Post (via Complex), music executive Scooter Braun has been hit with a $50 million lawsuit by a former Goldman Sachs partner, named Peter Comisar, who claimed the music executive failed to come through on a promise of a meaningful role at Braun’s new venture if Comisar departed from his current job. Comisar is seeking compensatory damages and unspecific punitive damages that amounts to a breach of contract suit.
Comisar says that from 2016 to 2017 Braun “aggressively courted” him while he was working for Guggenheim Securities. Braun allegedly bragged about his roster of talents and famous close friends in hopes that Cosimar would jump ship and join the music executive in launching Scope Capital Partners with business manager David Bolno.
The lawsuit says Bolno spoke highly of Braun, crediting him for “reigniting Calvin Klein underwear through a campaign with Justin Bieber and creating the Yeezy brand for Kanye West.” Comisar also claims Braun told him anywhere between $500 million and $700 million could be raised by getting close friends, like Jimmy Iovine and David Geffen, to invest in Scope. Comisar adds that Braun “personally executed contractual commitments to support the new venture,” which would have given Scope an operating expense of $7 million per year for three years while Comisar himself earned a salary of $3 million a year. However, things turned bad when those billionaire investors failed to hold up their end of the bargain.
“The truth was that Braun’s relations valued him as someone to socialize with, but to whom they could never and trust their millions,” the lawsuit read. “When it came to fundraising, Braun turned out to be a sheep in wolves clothing.” Comisar adds that he was threatened by Bolno, saying that if he pursued legal action over the breach of contract saying, “Braun would trash Comisar’s pristine reputation” and “ruin him financially.
UPDATE: A representative from Braun’s team has reached out to Uproxx claiming that these allegations are false and noting that they are suing Comisar for fraud. Read more at Variety.