The owner of Northstar Commercial Properties previously said he was personally worth $61.5 million in May 2020. A lot has changed since then.
Investors knew the risks when they bankrolled developments he suggested he would invest in but didn’t, Brian Watson told a federal court.
The Northstar Commercial Partners owner is also battling a lawsuit filed by Amazon, and is accused of securities fraud by the SEC.
The charges are unrelated to allegations leveled by Amazon in an ongoing lawsuit against Watson, who was the GOP nominee for state treasurer in 2018.
Brian Watson, who has been in a legal fight with Amazon since 2020, has also filed to divorce his second wife.
The CEO of Northstar Commercial Partners sued IPI Partners in 2020, accusing the firm of breach of contract.
“I never considered myself a rat,” he wrote on Dec. 2, 2019. But Amazon’s actions would later frustrate him.
The Denver-based real estate firm has also been dealing with an FBI investigation and a long-running lawsuit filed by Amazon.
In addition to the civil lawsuit, there has been a seemingly parallel criminal investigation into the kickback scheme. No one has been charged.
“Perception of the fair administration of justice … is of the highest importance to the court,” wrote Liam O’Grady, whose wife had owned about $22,000 worth of Amazon stock.