Stan Lee Is Suing His Ex Business Manager Over Forged Checks, Missing Money, And Stolen Blood

Things are becoming increasingly troubling for 95-year-old Stan Lee.

In the months since the death of his wife, Joan, the legendary comic book creator has found himself at the center of a bitter and confusing battle involving his money, business affairs, caregivers and control of his famous name. The latest development may be the strangest yet.

Lee has filed a lawsuit against his former business manager, Jerardo "Jerry" Olivarez, accusing him of fraud, financial elder abuse, conversion and the unauthorized use of Lee's name and likeness. The complaint alleges that Olivarez transferred millions of dollars out of Lee's accounts, arranged questionable business transactions, forged or improperly obtained Lee's signature and even orchestrated the removal of Lee's blood so it could be used to create collectible comic books.

The lawsuit describes Olivarez as one of several "unscrupulous businessmen, sycophants and opportunists" who allegedly moved into Lee's inner circle after Joan died in July 2017. Stan and Joan had been married for nearly 70 years.

According to the complaint, Olivarez took advantage of Lee while he was grieving and increasingly dependent on others to manage his personal, medical and financial affairs.

The Alleged $4.6 Million in Unauthorized Transfers

Lee alleges that Olivarez gradually gained control over significant parts of his financial life. The lawsuit claims Olivarez persuaded Lee to fire his longtime attorney and banker and then convinced him to grant Olivarez power of attorney.

Once that authority was in place, Lee claims millions of dollars began moving out of his investment accounts.

The complaint alleges that approximately $4.6 million was transferred from Lee's Merrill Lynch account through a series of complicated wire transfers and other transactions. Lee says he did not knowingly approve the transfers and did not fully understand where the money was going.

One disputed transaction involved an approximately $850,000 condominium in West Hollywood. According to the lawsuit, the property was purchased in Lee's name without his informed approval and was effectively acquired for Olivarez's benefit.

The lawsuit also points to a $300,000 check tied to an organization called Hands of Respect. The payment was supposedly structured as a loan to the nonprofit, but Lee's attorneys allege that there were no legitimate loan documents and that the money was never repaid.

Lee claims his signature on the check was either forged or obtained under misleading circumstances.

Hands of Respect was presented as a charitable organization promoting peace, equality and mutual respect. Lee's complaint alleges that Olivarez instead used the organization to move money and capitalize on Lee's reputation.

Rich Polk/Getty Images

The Stan Lee "DNA Ink" Collectibles

The most bizarre allegation involves several vials of Stan Lee's blood.

According to the lawsuit, Olivarez presented Lee's private nurse with documents that appeared to authorize a blood draw. Lee claims he never knowingly approved the procedure and that the authorization was either fraudulent or obtained without his informed consent.

The blood was allegedly mixed into ink that was then used to stamp Lee's signature onto collectible comic books.

Copies of "Rise of the Black Panther" and other comics were marketed with certificates describing them as featuring a:

"Hand-Stamped Signature of STAN LEE using Stan Lee's Solvent DNA Ink."

The collectibles were reportedly sold through a store connected to the Marvel Avengers S.T.A.T.I.O.N. attraction on the Las Vegas Strip. Some were offered for hundreds of dollars apiece.

These were not ordinary hand-signed Stan Lee comics. His signature was reproduced with a stamp using ink that supposedly contained traces of his blood.

Lee maintains that his blood was obtained and commercialized without his permission.

The accusation is particularly disturbing because Lee is 95 years old and has experienced a number of health problems. Accounts surrounding the incident claim that enough blood was drawn to leave him feeling weak or lightheaded, although the full circumstances remain disputed.

Control of Stan Lee's Name and Likeness

The lawsuit also accuses Olivarez of arranging business deals that damaged the value of Lee's name, likeness and personal brand.

Lee is no longer known only to comic book readers. Thanks to his cameos in Marvel movies, frequent convention appearances and decades as the public face of the company, he has become one of the most recognizable figures in entertainment.

His name, signature, image and voice are therefore extremely valuable commercial assets.

Lee claims Olivarez pressured him into licensing and merchandising agreements without properly explaining their terms. According to the complaint, some of those deals gave outsiders overly broad rights to use Lee's identity, exposed him to potential legal disputes and weakened the value of his brand.

The lawsuit argues that the alleged damage goes beyond money removed from his accounts. Unauthorized products carrying Lee's name or signature could undermine the trust he has built with fans over the course of his career.

A Larger Battle Over Stan Lee's Affairs

The lawsuit against Olivarez is only one part of a growing struggle over who controls Stan Lee's personal and business affairs.

Different members of Lee's inner circle have accused one another of manipulation, theft and elder abuse. Lee has issued statements defending certain associates and condemning others, while lawyers, family members, business managers and caregivers continue fighting over who is acting in his best interests.

The situation has become so chaotic that it is often difficult to determine whether Lee's public statements reflect his own wishes or the influence of whoever has access to him at a particular moment.

That uncertainty is especially troubling given the amount of money potentially involved. Lee may not own the Marvel characters he helped create, but his name, autograph, public appearances and licensing rights remain highly valuable.

For decades, Lee has been surrounded by superheroes capable of spotting villains in an instant. In real life, however, the lawsuit suggests that identifying the people trying to protect him—and those allegedly trying to exploit him—has become far more difficult.

Lee is seeking approximately $20 million in damages from Olivarez. The allegations have not been proven in court, and Olivarez has denied wrongdoing.