A Galveston County woman is suing a former business partner, alleging fraud and theft.
Lizabeth W. Comiskey filed a lawsuit Nov. 12 in Galveston County District Court against Kenneth G. Martin, of El Campo, alleging common law and statutory fraud, negligent misrepresentation, theft, breach of contract and unjust enrichment.
On Feb. 13, 2009, the suit states, Comiskey and Martin jointly purchased property at 130 Bamaku Bend, Tiki Island, in Galveston County, for $230,000. The parties agreed Comiskey would manage the property and receive rental payments from tenants of the property, and, as compensation, would receive $300 per month from the monthly rent collected, the suit says.
Each month, Comiskey gave Martin the rental payments received, after subtracting her $300 management fee, and Martin had agreed to put the entirety of the remaining rental payments toward paying down the note they signed with First State Bank to purchase the property initially, the lawsuit states.
However, the suit alleges, Martin kept some funds for himself, without Comiskey's knowledge or consent, totaling more than $100,000. The suit says Martin refinanced the note without the plaintiff's knowledge or consent, and took out approximately $16,100 in equity.
Comiskey seeks monetary relief between $200,000 and $1 million, a partition and sale of the property, an accounting of the stolen funds, interests, attorney fees and costs. She is represented by attorneys Scott D. Ellis and Benjamin Stephens of Gardere Wynne Sewell in Houston.
Galveston County District Court case number 15-cv-1203.