Investors Put Ring On eBay & Hope To Sell For $250,000!
Turns out “Real Houswives of Beverly Hills” star Taylor Armstrong is NOT selling her engagement ring on eBay the company that sued her is selling it, because Taylor surrendered the bling to get out from under a huge legal mess. The ring her deceased husband Russell Armstrong gave Taylor was placed on the auction block this morning.
Now here’s what we know. Taylor and Russell were sued by investors who claimed Russell fleeced them out of millions of dollars. The case settled, but the Armstrong’s didn’t pay. So the investors went after them again this time with a vengeance.
Since Russell committed suicide, Taylor has now struck a new settlement deal with the investors to make the whole thing go away. The new deal was struck yesterday, which requires Taylor to pay an undisclosed amount of money to the investors and fork over a bunch of personal property INCLUDING THE ENGAGEMENT RING.
So the investors are the ones who put the ring on eBay and hope to fetch a quarter of a million bucks.
Sources close to Taylor tell us she’s really pissed and feels she’s been backed into a corner because of Russell’s misdeeds. She wanted to fight, but can’t afford the legal war.
Taylor wanted to pass the ring on to her daughter when she got married.
If you remember Russell and Taylor were sued by MyMedicalRecords.com in which they claimed a breach of contract, stating that the Armstrongs scammed money to “live a lavish lifestyle“. Russell Armstrong had been the largest shareholder of the then privately held company, which provides secure Personal Health Records and electronic safe deposit box storage solutions. After it was discovered that Russell had misappropriated investor money and diverted shares of the company, he was removed from the board and settled with them for $250,000. Under the terms of his original settlement, Russell was required to identify anyone who he had sold shares of MMRGlobal to. However, Russell failed to do so, and he and his wife were served with a $1.5 million breach-of-contract suit because of it. Taylor initially had tried to get the case dismissed, but she had not met the burden of proof. So therefore she had to fork over personal items including the engagement ring she was given by Russell. It’s a shame really, the ring is very nice.