Calvin HarrisThe Scottish music producer and DJ, has accused their financial adviser to steal $ 22.5 million to finance a “boondoggle” real estate project in Hollywood.
Harris claims that his adviser, Thomas St. John, made him invest in CMNTY Culture Campus, a 460,000 square meter development that would include recording studios, offices and artists.
According to an arbitration demand, St. John, who served as Harri’s financial advisors for 13 years, to develop the project around 2020. Harri’s lawyers claim that the project went low on cash in 2023, and that St. John turned to Harris for an acute cash infusion.
Harri’s lawyers claim that St. John gave him no information about the project, but only submitted documents for him to sign. According to demand, Harris – whose legal name is Adam Wiles – made a loan of $ 10 million for the project and an investment of $ 12.5 million.
“Until today, the applicants do not know where the applicant’s investment has gone or what it has been used for,” Harris lawyers claimed. “In any case, the respondents had no intention that Wiles actually got back the full value of their investment, through distributions or otherwise.”
Shortly after the investment was made, Harris claims that St. John got the company to distribute $ 11.7 million to a unit like St. John checks. (St. John has, through his lawyers, denied this accusation.)
Harri’s lawyers claim that the real estate investment “At best, has been a complete boondoggle and in the worst case a complete fraud.”
In 2024, the developers announced that due to “changing market dynamics” they had chosen to conduct a housing project on the site, which is at the corner of Sunset Boulevard and Highland Avenue.
St. John’s lawyer, Sasha Frid, said in a statement to Amount That Harris is one of several investors in the project, which will include 750 apartments in two towers on 34 and 38 stories. Frid said that the project will contain 90 low-income units as well as outdoor, creative and retail space.
Harris “actively continued this development opportunity,” Frid said. “Unhappy with the pace of the project, he chose to pursue private arbitration to assert his dissatisfaction. It is no secret that due to interest rates and other market factors, real estate projects are to build. But the development is very viable and is expected to have a valuation of $ 900+ million when he is finished. Mr. St. John denies something wrong.”
Harri’s lawyers claim that the loan of $ 10 million would be repaid by January 31, 2025, but that the principal and interest are still unpaid. According to the claim, St. John to be Harris adviser in April.
Harris has since demanded information about the investment, but claims that the answers have been limited and unsatisfactory.
Harri’s lawyers also claim that shortly after the submission of the arbitration demand, they were told that the project’s financial permit is “impaired.” Through the arbitration process, they obtained a prescribed agreement that the company will not disseminate its funds while the process is on its way. Harri’s lawyers submitted a presentation on Friday in LA Superior Court to confirm that agreement.
