- Billionaire investor Bill Gross is involved in a controversial legal battle with his neighbors in Laguna Beach, according to a new report from the Los Angeles Times.
- The dispute stems from a $ 1 million outdoor sculpture that Gross and his partner, Amy Schwartz, have installed nets to protect it from the elements. Their neighbor, Mark Towfiq, filed a complaint with the city after the network blocked his view.
- The complaint sparked a bitter altercation between neighbors, with Towfiq and his wife placing a temporary restraining order that Gross and Schwartz dazzle the “Gilligan’s Island”
- Gross and Schwartz claim in a separate suit that their neighbors are obsessed with them and have spied on the couple.
- Representatives of Gross and Towfiq did not immediately respond to Business Insider’s request for comment.
- Visit the Business Insider website for more stories.
Billionaire bond investor Bill Gross and his tech-entrepreneur neighbor are involved in a messy legal battle over a million-dollar sculpture.
According to a report by the Los Angeles Times’ Laurence Darmiento, Pimco founder and his partner, former professional tennis player Amy Schwartz, are accused by their neighbor, Mark Towfiq, of harassment and intentional infliction of emotional distress.
The disagreement stems from a 22-foot-long sculpture on Gross’ property in Laguna Beach, California. Created by artist Dale Chihuly, the sculpture consists of dozens of blue glass stems that reach nearly 10 feet tall. It was installed by Gross as a gift to Schwartz in 2019 and cost $ 1 million, according to the Times.
Schwartz told the Times that the pieces of glass “are like my babies” and that she and her mother pray for them.
But after the sculpture suffered thousands of dollars in damage, Gross and Schwartz installed nets around it to protect it from the elements, which Towfiq and his wife said they blocked their view. The couple filed a complaint with the town of Laguna Beach, which led to the town inspecting the property and informing Gross that he lacked the proper permits, the Times reports.
The subject has now triggered a bitter quarrel between the neighbors. According to the Times, Towfiq and his wife claim that Gross and Schwartz have blistered the “Gilligan’s Island” theme song, including music, all day and night, including turning on the music remotely when they are not home to get them to drop the problem.
Gross and Schwartz claim in their own lawsuit that their neighbors are obsessed with them, and have been spying on the couple while swimming and pointing security cameras at their house, according to the Times.
Towfiq has been given a temporary detention order and a hearing has been set for November 2 to decide whether it will be converted into a civil harassment order, the Times reports.
Representatives of Gross and Towfiq did not immediately respond to Business Insider’s request for comment.
Gross has previously been involved in bitter legal disputes. In 2016, his ex-wife, Sue Gross, filed for divorce, resulting in a high-profile and controversial legal battle that spanned several years. And in 2014, Gross was fired from Pimco, which led him to file a lawsuit alleging wrongful termination and breach of contract. The suit resulted in a settlement of $ 81 million in 2017.