Nelson v. Wettengel (2023 settlement)

Brian Nelson sued Wettengel and others in Orange County on 20 Oct 2023. The complaint is not in this archive. What follows is pieced from later recitals — KHCA Doc 49, the 24 Dec 2025 Versity I complaint, and the confirmed JAMS award. Those later pleadings are not a substitute for this file.

Versity I recites that the 2023 suit alleged financial malfeasance: unpaid bridge debt, diversion into Versity Invest / Academy West, forged Nelson signatures, and use of Versity I money for side businesses. Allegations in a later complaint about an earlier complaint.

Dismissed without prejudice 7 Dec 2023 after a 3 Dec 2023 term sheet. Crew was to buy Nelson’s interests in Versity Investments, NBPRE, and Book & Ladder for $30 million, closing by December 2024, and pay defaulted bridge loans in the interim. The later JAMS award found Crew, Wettengel, and Muro breached that settlement. The unpaid purchase price was not awarded; Paragraph 11j restored status quo ante as of 3 Dec 2023.

Do not republish the named bridge-lender schedule on that term sheet.