Unfortunate news broke last week for Paul Nassif — ex-husband of former Real Housewives of Beverly Hills star Adrienne Maloof — when TMZ reported that he had lost $400K in a real estate scam. What began as a simple house-flipping venture quickly turned into a huge flop for the renowned plastic surgeon and now he’s waging a legal war against Anthony Zogaib, the swindler and former friend.

“The idea was a fantastic idea and it wasn’t something that was really out of the ordinary — it’s something a lot of people do,” Paul exclusively tells Wetpaint Entertainment. “People can’t get away — or shouldn’t get away — with things like this. What will happen is they’ll go on and do it to someone else. That’s probably how they survive, by conning people. Hopefully there won’t be another victim.”

Even worse? Dr. Nassif himself didn’t think he’d get taken. He entered into this business proposition with someone he considered a friend, making things “very unfortunate” and just plain “horrible.”

“I made a real estate investment with a friend who was [buying] homes being auctioned off [online] — at least that’s what he told me,” Paul continued to say. “I was basically assured certain things and when it comes down to it, it was a lie. This was a friend of mine, and he has children himself.”

While Paul definitely blames Anthony, Paul does take some responsibility for what happened.

“I think I made some of my own mistakes,” Paul said. “I probably should have researched it more, [but] you base things on trust sometimes. When it comes to any investment, we all have to be a little more careful.”

Don’t miss Dr. Nassif and RHOC’s Dr. Terry Dubrow on the new E! series Botched when it premieres on June 24 at 9 p.m. ET. For more information on Paul’s plastic surgery practice, click here and here.

Reporting by Samantha Lear

Carson Blackwelder is an Assistant Editor at Wetpaint Entertainment. Follow him on Twitter and Google+!