A Los Angeles judge ruled that the co-founder of fashion titan Guess Inc. must pay $55 million in damages for trying to ruin the reputation of an accountant he hired to investigate former employees who later successfully sued him.
The o-founder of the L.A.-based Guess, Georges Marciano, was ordered to pay Gary Iskowitz after the accountant had “established that Marciano’s conduct in repeatedly libeling him was not only intentional and in reckless disregard of the probability that Iskowitz would suffer emotional distress, but was also despicable, malicious and oppressive” Los Angeles Superior Court Judge Elizabeth Allen White wrote.
Marciano’s campaign allegedly included derogatory comments made in more than 30 letters and e-mails sent to public agencies, banks and business associates of Iskowitz.
The judgment includes $45 million for Iskowitz and $5 million each to his wife, Theresa Iskowitz and his business partner, Carolyn Malkus, who both are also CPAs.
Last month, a Los Angeles jury determined Marciano must pay the five former employees a total $370 million in damages for defaming and causing them emotional distress by suing them for embezzlement. Marciano has an appeal pending with the California Supreme Court related to that case.
Marciano is also running for governor of California as an independent.
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