The Mighty Ducks star Brock Pierce, 43, sues his family friend for $80million after claiming he STOLE his beachfront Puerto Rico resort

Former Disney child actor turned crypto billionaire Brock Pierce is suing a family friend who claims he stole a gated resort in Puerto Rico from him.

Pierce, 43, paid $18.3 million in 2021 for 80 percent of a beachfront resort on Vieques Island — the former site of a W hotel that closed in 2017 after Hurricane Maria — according to Bloomberg.

In November, Pierce, who played a young Gordon Bombay in The Mighty Ducks, lost the property entirely after former family friend Joseph Lipsey III claimed Pierce made mistakes with a $10 million loan Lipsey offered him to buy the remaining stake.

Pierce told me The New York Post Lipsey “concocted a fictitious default” to “outright steal” the property from him and is suing to reverse the transfer and seek $80 million in damages.

'He knew the hotel was my heart. I feel as betrayed as can be,” Pierce said.

Pierce alleged that former family friend Joseph Lipsey III (pictured) “concocted a fictitious default” on a $10 million loan to “outright steal” the beachfront estate

In 2021, Pierce paid $18.3 million for 80 percent of a beachfront resort on Vieques Island — the former site of a W Hotel (pictured) that closed after Hurricane Maria in 2017

Pierce said the loan agreement gave Lipsey the right to manage the holding company that controls the hotel if he defaults, but he claims Lipsey failed to transfer the hotel to VRRRF — a company where Lipsey is CEO.

“He says we didn't send him a copy of the paperwork in time,” the crypto billionaire said.

If Pierce, chairman of the Bitcoin Foundation, is successful in reclaiming the property, he plans to reopen the resort under a new hotel banner as early as 2025.

'Everyone is still renovating the hotel, but I don't know for how long. “What Lipsey did is potentially fatal,” he said.

In 2017, the former child star moved to Puerto Rico – a tax haven where he hoped to transform the struggling Caribbean island into a crypto capital.

In 2014, he invented the highly controversial Tether coin, which experts fear could collapse the digital currency system. He says he has not been affiliated with the company since 2015.

Since moving to the U.S. territory, companies linked to Pierce have reportedly purchased at least six properties worth about $35 million, including a 124-year-old Masonic lodge in Old San Juan that serves as his headquarters.

Pierce invented the controversial Tether coin and moved to Puerto Rico in 2017 in hopes of turning it into a crypto capital

The former Disney Mighty Ducks star met Lipsey in Puerto Rico, where Lipsey's wife befriended Pierce's mother. Pierce played a young Gordon Bombay in The Mighty Ducks

Lipsey (left) moved to the Caribbean island with his son Joseph Lipsey IV (center) and wife Shira Lipsey (right) in 2021 after they were all charged with distributing cocaine to minors

Shira Lipsey (left), Steven Spielberg (center) and Joseph Lipsey (right) pictured at a gala in 2018. Pierce befriends Lipsey's son and the two are executive producers of a new Christmas movie

Lipsey, 60, moved to Puerto Rico with his wife and son in 2021 after they were all charged with distributing cocaine, alcohol and nicotine to minors, reported Freight waves.

The couple met in Puerto Rico, where Pierce's mother also lived.

“His wife became friends with my mother before she passed away,” Pierce said.

“Joseph came to me after she died and said I promised your mother I would be there to help you.”

Pierce also befriended Lipsey's son – Joseph Lipsey IV – and the two men are listed as executive producers of an upcoming Christmas film called Christmas Eve In Miller's Point, which stars Michael Cera. Deadline.