The proprietor of Los Angeles’s most notorious strip membership is being sued over an alleged “fraudulent bait-and-switch” scheme he used to grab management of two rival golf equipment — which reads like an episode of HBO’s “Euphoria”.
Craig Franze, the proprietor of The Physique Store in West Hollywood, then used the earnings to fund a lavish way of life, with luxurious vehicles, costly jewellery and a $30,000-a-month rental property, in accordance with a lawsuit filed Tuesday.
Franze’s former “finest buddy,” Naked Magnificence strip membership proprietor Mike Galam, and son Johnathan, filed the swimsuit, which additionally ranges accusations of intercourse trafficking, unlawful alcohol and drug gross sales, and high-stakes underground poker video games involving tens of millions of {dollars} in opposition to the strip membership proprietor and a person named Archie Donovan.
For these not accustomed to the newest season of Euphoria, one plot theme facilities round an influence battle between a ruthless strip membership proprietor, Alamo Brown, performed by Adewale Akinnuoye-Agbaje, and a violent gang of drug sellers, ran by Laurie, who’s performed by Martha Kelly.
The alleged “bait-and-switch” scheme facilities round a $2.9 million cost from the Galams to Franze to take management of two gents’s golf equipment — 4 Play and Plan B. They allege Franze then signed the possession of the golf equipment over to his personal corporations — locking the daddy and son out and maintaining the money.
The lawsuit additional alleges Franze and Donovan then drained the 2 golf equipment of earnings and company property.
Franz informed The Submit the allegations contained in Galam’s grievance weren’t solely false, however an extortion try.
“Importantly, the grievance is unsupported by proof and is unverified. Galam owes my companion and I tens of millions of {dollars} and has a protracted path of many extra tens of millions he owes others. We’re within the strategy of submitting our personal grievance, which units forth the precise information, consists of substantial supporting proof, and will likely be verified,” he stated.
When requested for remark, Galam informed The Submit “the grievance speaks for itself.”
Galam, who owns the Naked Magnificence grownup leisure membership, had beforehand been buddies with Franze for greater than 12 years — and have been “as soon as finest buddies” per the lawsuit.
Franze had apparently fallen on onerous occasions and moved in with Galam in LA in the course of the pandemic. He then started making money operating “underground poker video games,” the swimsuit states.
Philip Wiszowaty, who goes by Dazo, informed The Submit he performed in a number of of the underground poker video games hosted by Franze, and was allegedly short-changed of excessive stakes winnings.
“I performed in Craig’s video games hosted with Michael ‘Meatball’ Morton for 4 weeks,” he stated.
“I truly cashed out $820,000 chips and took an image of my chips earlier than going to sleep. The following day, Craig [Franze] and Meatball insisted it was solely $680,000 regardless of my image displaying them in any other case.”
Dazo claims on a separate night time, when he was taking part in at a full desk that featured NBA Corridor of Famer Paul Pierce, he received $1.2 million, however was solely paid out lower than half.
Dazo informed The Submit that Franze will “act like your finest buddy after which flip round and stab you within the again, like he has executed to Mike Galam, me, and different situations I’m conscious of.”
“Whenever you complain, they’ll threaten you and attempt to intimidate you,” he added.
Galam additionally alleges that when Franze labored on the Naked Magnificence membership as a supervisor, he was “systematically embezzling” funds estimated to be over $1 million to finance his lavish way of life.
“This included utilizing embezzled cash to buy an costly Rolls-Royce for himself in addition to a Maybach and a Corvette for his spouse together with over a half dozen different autos,” the lawsuit reads. “As soon as Franze took over the 4Play and Plan B and began siphoning cash from these golf equipment as properly, his lavish private spending skyrocketed.”
Franze allegedly used the funds to buy a Corvette, a $150,000 diamond ring for his spouse and practically $18,000 in jewellery for his girlfriends, in addition to renting a $30,000 per 30 days residence in Encino, California.
The lawsuit seeks to turnover possession of Franze’s golf equipment to Galam.
