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Orfalea sues cousin and development partner

By   /   Monday, December 20th, 2010  /   Comments Off on Orfalea sues cousin and development partner

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Paul Orfalea, the founder of Kinko’s and a major presence on the South Coast business and philanthropic scenes, is suing his cousin over $27.8  million in allegedly unpaid loans to a development company the two co-founded.

Orfalea and cousin Gary Safady founded Beverly Hills-based O&S Holdings in 1992. Its projects in the Tri-Counties include Zodo’s Bowling & Beyond in Goleta and Newbury Park Village in Thousand Oaks. But in recent years the firm has focused on megamalls in locations such as Bossier City, La., and Huntsville, Ala.

The five-page lawsuit, filed in Ventura County Superior Court, alleges only that loans made by Orfalea to O&S in late 2008 have not been repaid. It gives no indication of which projects, if any, may be in trouble or whether the developers are having cash-flow problems.

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