Allen Young vs San Francisco Regional Center & Tom Henderson
Filing Date:August 07, 2015
Case:Thomas Henderson vs. Allan Young
Civil / Criminal:Criminal
The owner of the iconic Tribune Tower and several other downtown Oakland office buildings is facing a lawsuit from a business partner accusing him of diverting funds from their enterprise to help amass his growing real estate portfolio.
The lawsuit, filed last month in Alameda County Superior Court, marks the second time in the past year that Thomas Henderson and his sons, Matthew and Michael, have been sued by an estranged partner.
Working with his two sons, Henderson, 66, has made a name for himself in recent years for his participation in the federal EB-5 program in which wealthy foreigners, primarily from China, bankroll projects that create domestic jobs in exchange for permanent residency in the U.S.
At issue is their biggest EB-5 venture, a call center company called CallSocket, which operates out of several floors in the Tribune Tower.
In court papers, Allan Young claims that he owns an equal share of the business but has been denied access to accounting reports and tax filings.
Young alleged that the Hendersons had "secretly diverted investment assets and funds" from CallSocket into separate bank accounts, and used CallSocket funds "to purchase or finance" other business ventures, including the acquisition of the Tribune Tower, according to court papers.
He also alleged that the Hendersons have misled Chinese investors by placing promotional materials on Chinese language websites that said CallSocket had contracts with "high profile clients such as Blue Cross/Blue Shield."
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