LOS ANGELES (CN) – A woman claims her sister, the former president of Cristobal Energy, swiped $11 million from the company. Defendant Marta Taylor was president and CFO of Cristobal Energy from March 2004 to December 2009, according to the complaint from her sister, Carmela Caldera.
Caldera claims that her sister occasionally allowed her husband, co-defendant Geoffrey Taylor, to make financial decisions for her.
When Marta Taylor became CEO, Cristobal Energy had a market value of $28.5 million, according to the Superior Court complaint.
Caldera claims her sister and brother in law did not disclose a “Loan Management Agreement” they made with Merrill Lynch, and that they used the borrowed “for their personal use and benefit.”
Caldera claims that around Christmas of 2005, the Taylors tricked her into signing loan documents after she drank “several glasses of wine” at the Taylors’ Christmas party.
Caldera, suing on her own behalf and on behalf of the company, seeks punitive damages for misappropriation. She is represented by Jeffrey Z. B. Springer.