Hall of Famer and former Jet Brett Favre is being sued for his role in a failed sports social media company that allegedly used fraudulent practices to garner an investment worth more than $16 million from a capital management firm, according to court documents obtained by The Blast.
Callais Capital Management, a Louisiana-based investment manager, is claiming Favre and his business associates falsely represented key details about the financial situation of Sqor Sports, which, according to The Blast, started as “a social network that was planned as a way to connect fans to their favorite professional athletes.”
In the lawsuit, CCM accuses Sqor of lying about how much money it raised, its projected income for ensuing years, its user base, social reach, and even some high-profile athletes they said were using the service who actually were not, like UFC’s Conor McGregor, the Patriots’ Rob Gronkowski, the Giants’ Odell Beckham Jr. and NBA Hall of Famer Allen Iverson.
According to The Blast, CCM says Sqor told the company that its user growth metrics were greater than those of Twitter and LinkedIn. Sqor also allegedly claimed that it was starting collaborations with the Lakers and Bulls, and had engaged in a verbal agreement with the NFL Players Association for an official partnership. CCM says Sqor also failed to notify them of potential investors who refused to give money.
CCM is suing Favre and his business partners for their $16.75 million investment plus additional damages. According to The Blast, Favre allegedly “received benefits from Sqor in the form of equity, athlete payments and private jets costs, among other things.”
Here is an interview Favre did with the founder and former CEO of Sqor Brian White in 2015: