Theodore Forstmann, owner of IMG (one of the biggest sports management companies in the world), is being sued by Agate Printing Inc., who alleges they acted as the go-between to set up multiple bets and wagers on behalf of Forstmann, who placed some of those against his own clients.  They also say they provided him with professional escorts on more than one occasion.

The suit alleges that Forstmann (who managed Tiger as well as Roger Federer) betted against Tiger during a battle with Vijay Singh, who was a close, personal friend of Forstmann’s, as well as raising a bet from $10k to $40k on a Federer match – after receiving inside information from Federer himself.

The lawsuit continues to list multiple accusations against Forstmann – and Agate is only suing because they claim he had a breach in his contract to deliver them printing business.

Forstmann’s lawyer, Michael Sitrick, says, “The allegations in James Agate’s complaint are beyond false, they are preposterous.”  Sitrick also says in an April 2009 letter, “Agate admitted concocting lies and spreading false information about Forstmann.”

You can read Sitrick’s response in it’s entirety here.

Source: TMZ (thanks )