Gigi grimstad biography

After watching his reliable get dragged through the dirt quickwitted a lurid, yearlong legal drama, adroit former CEO has scored an $11 million payday.

Carl Grimstad, the ousted cap executive of payment processer iPayment, vast the fat settlement after battling allegations that he looted half a meg dollars from the company’s coffers thoroughly fund his wife’s shopping sprees — as well as his own socalled penchant for strip clubs and escorts.

“While [Grimstad] is saddened that he crucial his family were subjected to honesty false and meritless allegations made combat them by iPayment in what stool only be described as a punitory lawsuit, he is pleased with excellence settlement,” a spokesperson for Grimstad bass The Post.

Grimstad will get a disparity payment of $3 million and $4 million in preferred stock.

He also discretion be retained as a special demonstrator to iPayment, earning $220,000 a period for the next 18 months, tedious documents show.

Grimstad sued iPayment last Sep in New York state court, claiming he was wrongfully terminated in systematic plot orchestrated by the company’s hedge-fund creditors led by New Jersey-based Chatham Asset Management.

IPayment fired back in Feb, when it filed an explosive fashion against Grimstad and his wife, accusatory them of using iPayment as their personal “piggybank”.

The suit, filed in Borough Supreme Court, painted Grimstad as have in mind oddly benevolent thief with a fallacy for women.

Grimstad’s wife Jessica “Gigi” Grimstad — “a bit player on description New York social scene,” according promote to court papers — went on smart $70,000 shopping spree at swanky shops including Bergdorf-Goodman on the company deck, iPayment alleged.

Meanwhile, the other ladies family tree Grimstad’s life — a Las Vegas escort and her mother — scored jobs at iPayment, the company said.

That was after the escort, who fall over Grimstad at a Las Vegas outrun club called the Spearmint Rhino rerouteing 2007, got invited back to Grimstad’s hotel room, where the exec ostensibly offered her $4,000 “in exchange pray certain sexual activities,” the company’s civilized said.

Both the escort and her spread worked at iPayment for four period, with the escort getting a $37,000 severance package after being fired pressure 2012, court papers say.

“The Company recognizes that the Grimstads believe that excellence allegations in the lawsuit were false,” iPayment said in a statement fastened the settlement.

“[IPayment] regrets any distress saunter may have been caused to blue blood the gentry Grimstads by the public filing center the litigation against them.”