Gene Phillips Wiki
Gene Phillips Biography
Who was Gene Phillips ?
The son of a controversial Texas-based billionaire is at war with his late father’s alleged mistress for more than $ 6.3 million that she claims is rightfully hers.
Gene E. Phillips died in August 2019, at the age of 82.
A native of South Carolina, he moved to Dallas, buying a 16-acre property with George W. Bush, and made a $ 3.5 billion fortune in real estate and energy, the Daily Beast reported.
When he died, he appointed one of his sons, Bradford, CEO of a life insurance company, as executor of his estate.
Now, a woman Phillips described in legal documents as “one of several long-term lovers” of her father is seeking $ 6.3 million that she says is rightfully hers.
Marsana De Monserat, an interior designer and jet-set entrepreneur, said she is owed $ 2.6 million in proceeds from refinancing a Florida rental property that she owned but had allowed Phillips to manage.
She from Monserat believes that she is also owed $ 1.7 million from a promissory note that she said she was given to her.
How old was Gene Phillips ?
He was 82 year old.
In January, Phillips filed a lawsuit accusing De Monserat of extortion.
On Monday, according to The Daily Beast, the California judge overseeing the case, Mark Epstein, indicated that he would likely reject Philipps’ objection.
De Monserat, in a recent court filing, said Phillip’s complaint against her is an ‘attempt to abuse the legal system, in hopes of scaring her away from her business interests with’ hers, her late father.
In an amended lawsuit, she removed the claim that De Monserat was the late billionaire’s mistress – she refers to herself in court documents as a friend of hers.
The socialite said that she met Gene Phillips in the mid-1990s.
“We subsequently became close friends [sic] and began working together at a number of real estate companies, beginning with the purchase of an apartment complex in Los Angeles in the late 1990s,” De Monserat said.
In 2000, Gene was indicted, along with a number of mobsters, the BBC reported, in New York for extortion and wire fraud as part of an alleged scheme to pay bribes to corrupt pension fund officials in exchange for investing in one of the companies that he reviewed. He was acquitted of all charges in February 2002.
In 2001, The Wall Street Journal described him as “ for a long time one of the most controversial figures in publicly traded real estate ” – a director of Southmark Corp, a Dallas real estate group that collapsed in 1989 in a series of lawsuits, and controlling the transcontinental property empire, despite a 12-year offer to overthrow it.
Bradford referenced his father’s unusual past in his original costume, saying, “While Mr. Phillips was very successful, he was also a controversial figure.”
He added that he “has had to overcome his father’s reputation with company regulators and others.”
De Monserat said he invested in real estate, but Gene Phillips ran the day-to-day operations.
“Gene Phillips maintained complete control over the management and operations of the various properties that he owned and in which I invested in accordance with Gene Phillip’s advice and direction,” he said.
He claimed that in October 2015, he purchased a large apartment complex in Florida and ‘allowed Gene Phillips to control the management and all dealings regarding this property, just as he had done with our previous real estate investments.’
She said: ‘After the death of Mr. Phillips, in approximately January 2020, I asked the plaintiff, as executor of Gene Phillips’ estate, to provide me with an accounting of all the properties he owned and the investments he had with the his father. .
“I received little or no information from the plaintiff.”
She also accused Bradford Phillips and her attorney of trying to “demean” her by referring to her as “one of Mr. Phillips’ long-term mistresses, with nothing to offer from a business perspective …”
Bradford Phillips responded, the Daily Beast reported, calling De Monserat’s allegations “unfounded.”
He expressed concern that “investigations by various government entities would cause a significant disruption” in his business.
The lawsuit adds that Phillips “feared criminal charges would be brought against him, his family and his estate.”
He added that this “fear caused him great emotional distress and has caused him immediate harm.”
Gene Phillips Quicks and Facts
- Real estate and energy tycoon Gene Phillips died in 2019 at the age of 82
- The businessman made his son Bradford the executor of $3.5 billion estate
- Bradford cut off funds to Marsana De Monserat which she argues were hers
- De Monserat is demanding $2.6 million in refinancing proceeds from one Florida rental property she owned but had allowed the late Phillips to manage
- She is also seeking $1.7 million from a promissory note she said was given to her
- Bradford Phillips, CEO of a life insurance firm, accuses her of extortion