HOUSTON — A former appointee to the Harris County Sports Authority is suing his younger brother for $5 million, claiming he manipulated financial statements and falsified tax records in order to push his older brother out of his ownership stakes in their three-business partnerships, including Foxx Video.
Mehmood Rasheed filed a complaint July 1 in Harris County District Court against Harron Shaikh, alleging fraud and breach of fiduciary duty.
Rasheed and his younger brother Shaikh began a business partnership in 1999 that included stock-purchase agreements and the incorporation of numerous companies that included Foxx Video, Continental Beverages, SEBA Enterprises, NY Traders and Airport Enterprises. According to Rasheed's complaint, while Shaikh was managing his CPA firm, Rasheed ran the day-to-day operations of their businesses for more than 20 years.
Rasheed alleges that over the last few years, the two brothers' relationship began to "deteriorate." Rasheed claims that Shaikh would bully him and in 2019 locked him out of their businesses by reducing his ownership stakes through falsifying company records, including forging his signature on tax returns.
Rasheed also claims his younger brother refused to give him access to the company books.
Rasheed seeks monetary relief of up to $5 million, interest and all other just relief. He is represented by Murtaza Sutarwalla and Brent Webster of Edwards Sutarwalla PLLC in Houston.
Harris County District Court case number 2020-39201