Old Business Deal Plagues Sean Connery

by Deidre Woollard (RSS feed)
Mar 3rd 2009 at 8:02PM

A business deal that is over 30 years old has come back to haunt Sean Connery. The Daily Telegraph reports that Connery, who now lives in the Bahamas, allegedly lent $4 million to a businessman to develop property in the Cote d'Azur back in 1972. Now the family of the developer is suing Connery because they say that the developer had offered as security a collection of assets including property and gems worth $10 million that could now be worth $50 million.

When Connery called in the loan, some of the assets were sold and the family says the assets were worth more than the original investment. The businessman, known only as Jean-René because the family does not want their last name disclosed, died in 2002. His family wants back all profits from the diamonds and property sold as well as any of the other items that were used as loan guarantees. A legal battle has begun in Switzerland with Connery summoned to appear before a court in Geneva next week. A spokesperson for Connery says that he knows nothing about this and that Connery has not received a summons. The length of time between the investment deal and the suit seems a bit suspicious.

UPDATE: The Scotsman reports the case has been thrown out.

Tags: geneva, lawsuit, sean connery, SeanConnery