Courts: Baker Mayfield seeks proof of how his $12M was invested with family's companies

The petition was filed Tuesday in the 250th District Court and attorneys are asking the defendants — Camwood Capital Management Group, Camwood Ventures, Texas Contract Manufacturing Group, Unitech, Apex Machining and Lor-Van — to turn over financial records from 2018-2023 and for witnesses to provide oral depositions to help the Mayfields figure out where their money has gone over the course of five years. The filing is not a lawsuit.

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AUSTIN (KXAN) — Attorneys for Baker and Emily Mayfield filed a petition in Travis County District Court to request information regarding the potential misappropriation of $12 million by an Austin investment firm where Mayfield's family members work.

The petition was filed Tuesday in the 250th District Court and attorneys are asking the defendants — Camwood Capital Management Group, Camwood Ventures, Texas Contract Manufacturing Group, Unitech, Apex Machining and Lor-Van — to turn over financial records from 2018-2023 and for witnesses to provide oral depositions to help the Mayfields figure out where their money has gone over the course of five years.

"Petitioners simply do not know if their money has been properly and competently invested, has been stolen or otherwise misappropriated, or something in between," the document stated.

The filing is not a lawsuit. The filing said all the Mayfields want is information about where their money went, but since they have been "denied access to this information," the petition was filed in order to obtain it.

"It is too early to know whether a suit is likely or even anticipated," the filing said. "At this time,
Petitioners have been deprived the information and documents needed to analyze whether their
assets have been misappropriated."

KXAN reached out to both Mayfield's attorney and the Camwood Capital Management Group but didn't immediately hear back. We will update this story with any information they provide.

According to the filing, all of the witness contacts listed for the defendants are members of Baker Mayfield's immediate family. TCMG is a subsidiary of the Camwood Capital Management Group (which includes Camwood Ventures) while Unitech, Apex and Lor-Van were all acquired by TCMG since 2018, according to the filing.

"On information and belief, a substantial sum of Petitioners’ assets were transferred
out of Petitioners’ personal accounts to TCMG, potentially at the direction and supervision of
Camwood Group and/or Camwood Ventures, and were used by TCMG to fund certain
investments, make certain acquisitions, or to fund certain loans. Other of Petitioners’ assets were
transferred directly to Camwood Ventures and invested in various entities on behalf of Petitioners," the filing said.

Baker Mayfield, who was drafted No. 1 overall by the Cleveland Browns in the 2018 NFL Draft, signed a 4-year contract with the team worth more than $32 million in guaranteed salary which included a signing bonus of nearly $22 million. The Austin native graduated from Lake Travis High School. He played college football at Texas Tech and Oklahoma, winning the 2017 Heisman Trophy with the Sooners.

Mayfield is now competing for the starting quarterback job with the Tampa Bay Buccaneers after spending the 2022 season with the Carolina Panthers and Los Angeles Rams. Baker and Emily were married in 2019.