HOUSTON — A Harris County man is suing a Houston real estate business and its agents, alleging the defendants wrongfully retained profits from their joint venture business.
Terry Walters filed a lawsuit Oct. 6 in Harris County District Court against Welcome to Paradise LLC, Randy Harris and Tamara Harris, alleging breach of fiduciary duty.
According to the complaint, in September 2015, Walters invested $142,000 for a joint house flipping venture with the defendants. Since then, the suit says, the defendants have acquired and sold or mortgaged at least five properties in Harris County.
To date, the lawsuit states, Walters has not received any profit from the joint venture nor the return of his money. The plaintiff alleges the defendants have failed and refused to return any of Walters' money or any of the profits.
Walters seeks trial by jury, monetary relief of between $200,000 and $1 million, declaratory judgment clarifying the respective parties' ownership interest in the business, costs of court, pre- and post judgment interest, plus all other relief. He is represented by attorney Paul A. Koks of The Koks Firm in Friendswood.
Harris County District Court Case number 2016-67900