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Bruce Willis sues Malaysian prince over 'green rubber' investment
American actor Bruce Willis has sued a Malaysian prince and his company over a $2 million investment in "green rubber" that the actor wants returned.
- Agencies
- Published: 09:12 November 22, 2008
Los Angeles: American actor Bruce Willis has sued a Malaysian prince and his company over a $2 million investment in “green rubber'' that the actor wants returned.
Prince Imran Ibni Tuanku Jaafar and Datuk Vinod Sekhar, principals of The Petra Group, have repaid Willis $1.1 million of the original amount.
Willis said that the two have not returned the $900,000 they still owe him, according to the lawsuit filed in Los Angeles on Friday.
Sekhar said Willis stood to make "a huge profit" in an initial public offering of Petra subsidiary Elastomer Technologies, which had been set for the third quarter of 2008.
But when Willis tried to take his money out of the company nearly a year later—with no IPO in sight—Sekhar and Jaafar refused to return it, the suit said.
A Petra Group spokesman could not be reached for comment. Willis claims damages of $900,000 plus 10 per cent annual interest.
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