for $50 million this month — claiming fraud and breach of contract over an investment in a car company — Paulson has banned Ghaffar from the duo’s luxury properties in Puerto Rico, citing a video that Ghaffar’s lawyer is declaring a “smear campaign.”
Says the memo: “In the video, Fahad, who appears to be in a highly intoxicated state, is seen breaking glasses, pushing employees, and smashing and throwing chairs.” The memo puts an immediate ban on Ghaffar “from using any of our restaurants, facilities, or venues at La Concha Hotel, the Vanderbilt Hotel, the Condado Beach Club, the St. Regis Hotel and the Bahia Beach Resort. Security at all properties have been notified.”Ghaffar’s lawyer is calling the allegations part of a “smear campaign.
In the previous lawsuit Ghaffar filed against Paulson, he claimed he invested $17 million into Paulson’s F40 car company in 2022 that would be converted into a 50% equity stake, and that he repeatedly asked for the convertible note — a short-term debt agreement that converts into equity at a future date — that reflected his ownership stake.