NYC-based designer Rubin Singer, who rose to fame after designing Beyoncé's Super Bowl costume last year, has been slapped with a major lawsuit from investors, who claim the designer spent over half of a million dollars in seed money to support an “extravagant lifestyle." According to the suit, which was filed in a Manhattan Supreme Court this week, Singer has failed to pay back his investors and instead, has spent his start up funds on limousines, dating service subscriptions, a David Barton gym membership and a vacation to Thailand, which reportedly had no business purpose. Singer, who worked for Oscar de la Renta and Bill Blass before launching his own line in 2007, "used RSI as his personal cash machine and paid little attention to keeping track of his lavish expenses," the suit alleges. In addition, it turns out, there has been some major commingling between Singer's personal and business accounts The suit alleges that Singer’s personal expenses were paid by RSI, his company, and that Singer refused to allow RSI expenses and revenues to be tracked.
The group of plaintiffs is seeking repayment with interest and penalties on the money they’re owed. They are also asking the court to order Singer to pay two investors an extra $100,000, claiming he made fraudulent promises to obtain their investment, according to court papers.