Shohei Ohtani, Agent Sued After Allegedly Sabotaging $240 Mil Real Estate Project

Shohei Ohtani and his agent, Nez Balelo, have been sued ... after they allegedly screwed over some real estate business moguls in Hawaii -- costing them a fortune.

The lawsuit was filed in Hawaii Circuit Court last week ... and in it, the case's plaintiffs, Kevin J. Hayes Sr. and Tomoko Matsumoto, claim Ohtani and Balelo sabotaged a $240 million real estate venture they had all entered into.

According to the suit -- which TMZ Sports obtained on Tuesday -- Hayes Sr., a developer, and Matsumoto, a real estate broker, had gotten involved in a luxury housing project on the Big Island ... and brought Ohtani in to help promote it.

But, they allege a short time later, Balelo and the Los Angeles Dodgers superstar went to Hayes Sr. and Matsumoto's business partner, Kingsbarn Realty Capital, and tried to get them fired "for no reason other than their own financial self-interest."

They allege Balelo and Ohtani "issued an ultimatum ... and demanded that Kingsbarn remove Hayes and Matsumoto from the project or else face retaliatory litigation."

Hayes Sr. and Matsumoto say they're now on the chopping block due to Balelo and Ohtani's actions ... leaving them at risk of losing "millions of dollars in economic entitlements."

"This case is about abuse of power," the plaintiffs wrote in the suit. "Defendants used threats and baseless legal claims to force a business partner to betray its contractual obligations and strip Plaintiffs of the very project they conceived and built."

"Defendants must be held accountable for their actions, not shielded by fame or behind-the-scenes agents acting with impunity," they added. "Plaintiffs bring this suit to expose Defendants’ misconduct and to ensure that the rules of contract, fair dealing, and accountability apply equally to all -- celebrity or not."

Hayes Sr. and Matsumoto are suing for unspecified damages.