Son of late billionaire real estate developer at $6 million war with his ‘mistress’

The son of a controversial Texas-based billionaire is at war with his late father’s alleged mistress for over $6.3 million, which she claims is rightfully hers.

Gene E. Phillips died in August 2019 at the age of 82.

Born in South Carolina, he moved to Dallas – bought a 16-acre estate next door to George W. Bush – and made a $3.5 billion fortune in real estate and energy, the Daily Beast reported.

When he died, he made one of his sons Bradford, the CEO of a life insurance company, the executor of his estate.

Now, a woman who Phillips described in legal documents as “one of many long-term mistresses” is demanding $6.3 million from his father, which she claims is rightfully hers.

Marsana De Monserat, a jet setting interior designer and entrepreneur, said she owes $2.6 million in refinancing proceeds from a Florida rental home she owned but had the late Phillips manage.

De Monserat believes she also owes $1.7 million from a promissory note that she claims was given to her.

Marsana De Monserat is demanding $6.3 million from the estate of Gene Phillips, who died in August 2019 at the age of 82. She says in court documents that they met in the late 1990s and began making real estate deals together

Gene E. Phillips died in August 2019, leaving behind a fortune that was $3.5 billion according to the Daily Beastast

Gene E. Phillips died in August 2019, leaving behind a fortune that was $3.5 billion according to the Daily Beastast

In January Phillips served a lawsuit accuses De Monserat of extortion.

According to Monday the everyday beast, the California judge overseeing the case, Mark Epstein, indicated he would likely dismiss Philipps’ appeal.

Bradford Phillips, son of the late Gene Phillips, fights De Monserat in court over $6.3 million she says she owes

Bradford Phillips, son of the late Gene Phillips, fights De Monserat in court over $6.3 million she says she owes

De Monserat said in a recent lawsuit that Phillip’s complaint against her is an “attempt to abuse the justice system in the hopes of [her] to run away from her business interests with his late father.

In an amended complaint, he deleted the claim that De Monserat was the late billionaire’s mistress: she calls herself a girlfriend in court documents.

The socialite said she first met Gene Phillips in the mid-1990s.

‘We then became personally close’ [sic] friends and began collaborating on a series of real estate projects, beginning with the purchase of an apartment complex in Los Angeles in the late 1990s,” said De Monserat.

In 2000, Gene was indicted – along with a string of mobsters, reported the BBC — in New York for extortion and wire transfer fraud as part of an alleged scheme to pay bribes to corrupt pension fund officials in exchange for investments in one of the companies he controlled. In February 2002, he was acquitted of all charges.

By 2001, The Wall Street Journal described him as “long-standing one of the most controversial figures in publicly traded real estate” — head of the Southmark Corp, a Dallas real estate group that collapsed in 1989 in a whirlwind of lawsuits, and which controlled the transcontinental real estate empire, despite a 12-year deal. anniversary bid to evict him.

Referring to his father’s unusual past in his original suit, Bradford said, “While Mr. Phillips was highly successful, he was also a controversial figure.”

He added that he had to “get over his father’s reputation with corporate regulators and others.”

Gene Phillips (pictured) was a 'controversial' figure, his son Bradford admitted in court documents

De Monserat met Phillips in the late 1990s, she said:

Gene Phillips (pictured left) was a “controversial” figure, his son Bradford admitted in court documents. The Monserat met him in the late 1990s, she said

De Monserat said she invested in the property, but Gene Phillips ran the day-to-day operations.

“Gene Phillips retained full control over the management and operations of the various properties I owned and invested in in accordance with Gene Phillip’s advice and directions,” she said.

She stated that she had purchased a large apartment complex in Florida in October 2015 and “allowed Gene Phillips to oversee the management and all transactions related to this property, just as I had done with our previous real estate investments.”

She said: “After Mr Phillips passed away, about January 2020, I requested Plaintiff, as the executor of Gene Phillips’ estate, to provide me with accounts of all the property I owned and the investments I had with his father .

‘I have received little or no information from the claimant.’

She also accused Bradford Phillips and his lawyer of ‘humiliating’ her by referring to her as ‘one of Mr Phillips’ mistresses,’ who has nothing to offer from a business point of view…’

De Monserat's legal team is fighting through California courts to claim the money

De Monserat’s legal team is fighting through California courts to claim the money

Bradford Phillips hit back, the Daily Beast reported, calling De Monserat’s allegations “baseless.”

He expressed concern that “investigations by various government agencies would cause significant disruption to his business.”

The lawsuit adds that Phillips was “out of fear that criminal charges would be leveled against him, his family and the Estate.”

He added that this “fear caused him significant emotional distress and harmed him as a direct result.”

The case continues.

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