It was more than just the engagement ring from her late husband, Russell, that Real Housewives of Beverly Hills star Taylor Armstrong had to part with when she settled the lawsuit against her earlier this month. According to The Daily Beast, MyMedicalRecords.com (MMR) — the company which sued Russell and Taylor for $1.5 million after he allegedly defrauded some of its investors — received other assets, as well. In addition to the ring, two Hermes Birkin bags (which turned out to be fakes) and a banknote worth an undisclosed amount were also turned over to MMR.
The company’s CEO, Robert Lorsch, said that MMR agreed to settle on these terms because it was “questionable” whether any court judgment against Taylor would be recoverable, given her financial status. It would be a waste to spend thousands of dollars in legal fees only to find her insolvent, says Lorsch.
The company hopes to capitalize on Taylor’s fame and get a quarter million dollars for the ring. Since they couldn’t verify the authenticity of the Birkin bags, Lorsch says they decided to take the banknote, too.
“Knowing our experience with the Armstrongs in the past, we trusted very little, so we add [sic] the [banknote] at the last minute when there was no paperwork on the bags. At the end of the day, I think we will do OK with the ring…it got the case settled,” he explained.
Hopefully, this means Taylor can start concentrating on that cute little girl of hers instead of her financial woes!
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