Former Reality TV Star Brendan Fitzpatrick Faces Multiple Lawsuits Over Alleged $80 Million Fraud
Allegations of a massive Ponzi scheme and failed property development have emerged against the former "Rich Kids of Beverly Hills" star, with investors claiming they lost millions.
Key Allegations
- Carbonatik LLC: Investors allege this Sri Lanka-based mining venture was a front, promising 120% returns. Acquaintances and entrepreneurs claim they invested hundreds of thousands of dollars.
- Fabricated Documents: Court filings allege Carbonatik used fabricated bank statements, appraisals, and letters of intent to create an appearance of legitimacy.
- Greek Property Venture: Fitzpatrick is also being sued for $74 million related to a failed hotel development in Varko Bay, Greece.
Investor Experiences
- Richard Segerson and Dave Smith: Invested $500,000 in early 2025, expecting returns by July 2025 that never came. They allege Fitzpatrick used their money to repay a previous investor.
- Jason Charles: Spent $200,000 promoting Carbonatik, including writing letters to President Trump, but no investments ever materialized.
Legal Actions
- Premiere Properties: Won a $4.4 million judgment against Carbonatik for defaulted loans.
- Belgian Investors: Filed a lawsuit in London seeking €64 million ($74 million) for breach of contract in the Greek development.
- Additional Claims: Fastmarkets Global ($10,000 unpaid), an interior design firm ($50,000), and Chase Bank ($300,000 credit card debt).
Status
- Fitzpatrick and business partner Dr. Joseph Swaminathan declined comment.
- Carbonatik has filed counterclaims for defamation and breach of contract.
- A receiver has been appointed for Carbonatik.
- Fitzpatrick continues to post luxury lifestyle images on social media amid the litigation.