TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

Mel Gibson Sued In Recycled Rubber Dispute

6/15/2011 2:53 PM PDT BY TMZ STAFF

Mel Gibson is being sued by a man who claims Mel cajoled him to put his life savings in a newfangled technology to recycle tires ... the guy lost it all and now claims Mel is swindling him.

0615_mel_gibson_doc_launch_ex_2

Nader Sherif met Mel at a dinner party in 2007.  According to the lawsuit, Nader claims Mel started jawboning him about a Malaysian company called Green Rubber, which developed a technology to devulcanize rubber so old tires could be recycled.

Sherif claims Mel tried convincing him to invest $200,000 in the company -- his entire life savings.  Sherif says he was resistant, but someone from the company who was present at the dinner assured him the company would re-purchase Sherif's stock for the full face value whenever Sherif wanted.

But Sherif was still uneasy, telling Mel he had just had a child and could not afford to lose money. Sherif alleges Mel -- who is a "significant investor" in the company --  then told him if the company wouldn't make good, Mel would buy the shares from Sherif for the full $200,000.

Short story -- Sherif was going through hard financial times and wanted Green Rubber to buy his stock back.  Sherif claims the company repeatedly refused to do so, and he then went to Mel, who allegedly ignored his demand.

Sherif is suing for $200,000 plus interest. We could not reach Mel's rep for comment.

0615_green_rubber_awardHere's a video of Mel back in 2008 -- presenting an award to the CEO of Green Rubber at the Global Green Sustainable Design Awards.

165 COMMENTS

No Avatar
91.

God-Is-Busy    

You must have all really good laughs about someone who couldn't defend herself. Over years. You are sickening. I hate you and despise you. She has everything now. You have nothing.

1135 days ago
92.

God-Is-Busy    

Go to hell you pathetic bunch. Live with it.

1135 days ago
93.

Rhonda    

I wonder if this is the same Nadir Sherif that owned a LA based phone sex company back in the late 90's. If so, don't believe a dang thing that man says!

1135 days ago
94.

Tellthetruth59    

@GIB - who is "she" that has everything? Ox? As far as I can see all she has is some overly inflated lips, no resume, someone else's hair and a bad reputation. If that's "everything" I've got nuthin.'

1135 days ago
95.

Bruno    

What crawled up GIB's ass and died?

1135 days ago
96.

Curious    

Oh for the sake of Pete . . .

Who has everything? Miss Oksana? Well, ok, she has two children which she doesn't appreciate, she has a million plus dollar lawyer bill to pay off and she has a certain reputation now that prompts people to either giggle or snort.

And we're suppose to be envious of this? Le Snort.

1135 days ago
97.

MariJoy    

Haha, you'd think the moron would have run when he heard the company was based in MALAYSIA...instead he dumped his whole life savings into it!!!

Ghod, some people are SOOO DUMB.

1135 days ago
98.

Bunny that earns scooby snacks!    

Ox is a loser, a liar and a thief. Ugly too. And old. Mel didn't want her then and doesn't want her now.

1135 days ago
99.

Bruno    

There's an old saying in gambling that applies equally well to investing...Never bet more than you can afford to lose.

1135 days ago
100.

Cujeaux    

I can totally picture MM's sales pitch - his glassy wide eyes darting around the room without making any eye contact, his impatient fast talk and twitchy mannerisms, pressuring the guy to make a move like it's a checkers match... acting like a fat cat seasoned investor who follows the market. Please. Mel was taken in and was pulling people in right along with him. He made it sound easy to this guy who was star struck and impressed with MM's wealth. The guy was stupid to invest every last dime but people lose money all of the time that way. You have to be pretty stupid to be taken in by Mel Gibson so I don't feel the least bit sorry for this guy. Of course his money would go poof.

1135 days ago
101.

Curious    

Bruno -
You have an absolutely good point there.

Now if one goes by this Nader fellow's Caldwell Bankers bio, he cleared over $30 million in sales his first two years in Costa Rica while working for Century 21. Typical real estate agent makes 6 to 7 %. So say even 5%

$30,000,000 X 0.05 = $1,500,000

He did well enough to start his own company, South Peninsula Realty though the website copyright date is 2007 so I'm not sure if it's active any more. He currently lives in Mt Shasta, CA and does business in Costa Rica long distance through Caldwell Bankers now.

Given his business background, I would hardly think the immature cry of "He made me do it!" would cut much sympathy with any jury or judge. If he wants to sue, he should go after Green Rubber for their supposed guarantee of a "put" which should be in writing somewhere.

1135 days ago
102.

Aenwyn    

seriously wouldn't surprise me if this was true.

1135 days ago
103.

Curious    

Ya know, as I read through the lawsuit again, I can't help but notice some incredibly glaring holes in this complaint. On page 3 Nader says he doesn't know the names of other people who were also responsible for for him losing his money and then right on page 4, he mentions Vinod Sekhar, the man who controls it all. Sheesh. Oh and then on page 5 he whines about how Mr. Mel did it all out of self interest and being able to buy back Nader's shares "below market price".

Bovine ka-ka. The company's not on a public exchange, there is no "market price". In addition, Nader dude agreed back then to sell the shares at purchase price, he made no stipulation for any market price adjusted per centage.

He says he never received his stock certificate - then attaches same as proof he paid for the stock.

Ok, I gotta stop reading this. It's making me throw up in my mouth.

1135 days ago
104.

What You Really Want To See    

Curious 4 minutes ago
Ya know, as I read through the lawsuit again, I can't help but notice some incredibly glaring holes in this complaint. On page 3 Nader says he doesn't know the names of other people who were also responsible for for him losing his money and then right on page 4, he mentions Vinod Sekhar, the man who controls it all. Sheesh. Oh and then on page 5 he whines about how Mr. Mel did it all out of self interest and being able to buy back Nader's shares "below market price".

Bovine ka-ka. The company's not on a public exchange, there is no "market price". In addition, Nader dude agreed back then to sell the shares at purchase price, he made no stipulation for any market price adjusted per centage.

He says he never received his stock certificate - then attaches same as proof he paid for the stock.

Ok, I gotta stop reading this. It's making me throw up in my mouth.

==========================================

Shhh! You'll make 'disgusted' look like an uniformed idiot if you find holes in the Sherif story.... and we can't have that, can we?

1135 days ago
105.

realist    

Ok, I have to weigh in here. There is an incredible misconception about what real estate agents make on a transaction.

The 6 or 7% that is agreed to in the listing agreement, usually gets split in half with the selling office. Then the broker gets their cut of the agent's 3% which can be anywhere from 50% (Century 21 for a newbie) up to about 80%.

And, just to throw in a monkey wrench - - many of these high end properties (Like Candy Spelling's) do not bring that kind of commission. Like maybe 3 or 4% which again is split between the listing and selling office.

And before anyone asks any questions - - I have a California RE Broker's license.

1135 days ago
Previous 15 Comments | 4 | 5 | 6 | 7 | 8 | 9 | 10 | Most Recent | Next 15 Comments

Around The Web