Vicki Gunvalson, star of "The Real Housewives of Orange County," has filed a countersuit against financial advisor Gary Vyneman, alleging that his actions led to her being sued for millions of dollars in an elder abuse case and damaged her reputation. Gunvalson claims Vyneman made false statements about her financial advice to a mutual client, Diane Field.
Field, 74, initially sued Gunvalson, her business partner Ali Hashemian, and Allianz Life Insurance Company in May 2024. The lawsuit accused them of fraud, negligence, and elder abuse related to life insurance policies and annuities. Gunvalson has vehemently denied all allegations.
In her countersuit, Gunvalson asserts that Vyneman convinced Field that Gunvalson had provided her with questionable advice, thereby instigating the elder abuse lawsuit. Gunvalson maintains she exercised sound judgment in managing Field's finances.
Field's lawsuit, filed in the Superior Court of California in Orange County, states that she and her late husband George Field managed approximately $6 million in assets, including stocks and funds inherited after her mother's death in 2002. Following a serious injury to her husband in 2002, Field took over full financial management.
According to court documents, Field was advised in 2016 to invest her money in an Allianz 222 annuity. She claims this money was earmarked for her daughter's future. Field first met Gunvalson at a company event in 2019, after which Gunvalson allegedly offered a "safer diversified plan" intended to reduce Field's taxes and increase her future financial capital.
Field alleges that she was vulnerable at the time due to her husband's declining health and that Gunvalson and Hashemian advised her to purchase life insurance without fully disclosing the costs, focusing instead on its perceived benefits. Hashemian reportedly told Field that a $300,000 life insurance policy was a "one and done" transaction that would yield $6 million for her family upon her death. Field claims this was a misrepresentation, as the $300,000 was an annual recurring fee.
Field stated she entered into a pact with Gunvalson in December 2019, relying on what she described as "fraudulent sales tactics." She made a $300,000 payment in February 2021. After her husband's death in October 2021, Gunvalson and Hashemian allegedly advised her to transfer her late spouse's funds into a different annuity account. Field was diagnosed with lung cancer in September 2022 and underwent surgery in December.
Field made another $300,000 premium payment in February 2022. By the end of that year, she expressed feeling uninformed about the financial arrangements, concerned that large sums of money were tied up long-term. Her questions to Gunvalson and Hashemian reportedly went unanswered.
In April 2023, Field reportedly informed Gunvalson of her dissatisfaction. She subsequently entered a new agreement with a $100,000 premium payment, which provided a death benefit of $3.6 million for years four to 10, and $1.45 million in the 11th year. Field claims she had to sell stocks to afford these premium payments.
Gunvalson's attorney has previously stated that the accusations against her client are "completely false" and that Gunvalson has always acted with integrity. The attorney asserted that Gunvalson "has never engaged in any fraudulent conduct nor misrepresented any terms of any policy.”