Stan Lee Sues Business Associate Who Duped Him and Sold His Blood as Collectibles, Begins Break After SVCC
Comic book legend Stan Lee is filing a lawsuit against a man he claims to have used him for bogus activities and schemes that siphoned his bank account and jeopardized his health.
One the founding fathers of Marvel and the comic book industry in general, Lee is suing Jerardo Olivarez, who was a business associate of his daughter, for fraud and elder abuse after he allegedly took advantage of him while grieving the death of his wife Joan B. Lee last year.
For a start, the lawsuit mentions that Olivarez and other individuals fired Lee's banker, who worked with him for 26 years, as well as his long-time attorney, and then transferred $4.6 million out of his bank account without his authorization.
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He also made Lee believe he donated $300,000 to a charity called Hands of Respect, which Olivarez claimed was a non-profit organization that advocates racial harmony when in reality, the "charity" is a for-profit merchandising company that ended up taking part in another unbelievable scheme.
Olivarez stooped to a horrifying new low by allegedly having a nurse extract blood from Lee, which he had Hands of Respect to sell in vials in Las Vegas.
"There are shops in Las Vegas selling Stan Lee's blood," a family friend Keya Morgan told Deadline. "They're stamping his blood inside the Black Panther comic books and they sell them for $500 each," she went on to say.
Olivarez also tricked Lee into signing over power of attorney and appointing Olivarez's own lawyer, Uri Litvak, as his own, under the guise that he is looking out for his wellbeing.
Olivarez also used Lee's money to buy a condominium in West Hollywood for $850,000. He made the purchase without the 95-year-old's knowledge and approval. He then enjoyed the property exclusively for himself.
Finally, Olivarez scored another $1.4 million from Lee's accounts by wire transferring them to his account little by little. The former Marvel Comics editor and publisher is seeking accounting of his funds and is demanding restitution in the lawsuit.
The news comes just a few days after Pow Entertainment, a media company Lee founded, released an open letter to fans about giving the legendary comic book writer a break.
This is after videos of him from Silicon Valley Comic Con came out, showing no signs of the "endless energy and exuberance" that Lee, who co-created Spider-Man, Hulk, and the X-Men among many others, is known and admired for.
"We have been respectful of Stan's health issues and have given him the time and space necessary to convalesce. We have also respected his privacy as he deals with the upheaval within his personal management and life," the company wrote.
"However, upon seeing the many public videos and testimonials of Stan at Silicon Valley Comic Con and multiple other disturbing news reports, we feel we must add our voice to the legion of fans and creatives who are speaking out. We, like you, simply want Stan to enjoy life, connect with his fans when he is able, and most importantly spend his time going forward without impediment or stress," they added.
Pow Entertainment thanked fans for the support and love they have been sending Lee's way, and they hope that the break will allow him to get the rest he needs.
