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Kathy Ireland is leaning into her faith after a “shocking” betrayal by her former management team.
Ireland rose to fame in the ’80s as a highly coveted “Sports Illustrated” Swimsuit Issue cover model and then amassed considerable wealth as a flourishing entrepreneur with her self-named brand.
Last month, Ireland took action and filed a lawsuit against her former inner circle at Kathy Ireland Worldwide after discovering alleged deception and mishandling of her multimillion-dollar fortune, in documents obtained by Fox News Digital.
“The betrayal is what is most shocking and heartbreaking, really,” Ireland exclusively told Fox News Digital.
KATHY IRELAND SUES BUSINESS MANAGERS FOR ALLEGEDLY SWINDLING MULTIMILLION-DOLLAR FORTUNE
Kathy Ireland relies on faith after accusing her former business managers of allegedly swindling her multi-million dollar fortune. (Ron Gallela)
“When you have a relationship with people for 35 years, and you come to find that what you think is true is not. That’s really difficult on many levels and, to be honest, it’s been a difficult journey.”
“The betrayal is what is most shocking and heartbreaking, really.”
She added, “There’s been times when my husband and I take turns not sleeping.”
In the lawsuit filed in a Santa Barbara court, Ireland, 63, claimed her family was targeted by Jason Winters and Erik Sterling, who were allegedly at the helm of a deceptive managing scheme. The lawsuit also names four former Kathy Ireland Worldwide employees.
KATHY IRELAND REVEALS ‘BIG RED FLAG’ THAT EXPOSED ALLEGED $100M ‘UNCONSCIONABLE’ BETRAYAL
Forbes once estimated Ireland to be one of America’s richest self-made women, and worth $420 million through her self-titled brand, which includes affordable home furnishings, clothing, and lifestyle products sold not only in stores nationwide, but also on HSN.
She claimed in the lawsuit that her former team “failed to create wealth and make investments” as promised for their family, leaving Ireland and husband Greg Olsen in extreme debt and forced to sell their family home.
In a statement to ABC News, the defendants disputed Ireland’s claims, and said an alleged $25 million fraud claim against Ireland filed last year was the catalyst for their dispute.
Kathy Ireland married Dr. Greg Olsen in 1988. (John G. Zimmerman/Sports Illustrated)
They called her allegations “false, defamatory, and unsupported by any documentation,” adding that all loans in question had Ireland’s signature, and that those involved were “partners and equal shareholders from the outset, not business managers.”
In a separate statement shared online, defendant Brittany Duncan called the allegations “knowingly false, baseless, deceptive, slanderous and disingenuous.” Duncan added that the matter, which she said is being litigated, should be resolved in court rather than in the media.
Fox News Digital reached out to the defendants for comment.
“Every day we’re moving through this, and I’m so grateful and God is good,” Ireland said. “He’s getting us through.”
“Life is hard, and it’s full of tests, but my faith tells me … God promises, He says, ‘I will never leave you nor forsake you,’ and He refines us in the fire,” she said. “He oftentimes will lead us through battles, and we keep our eyes on Jesus, not the wind and the waves, and that’s what gets us through.”
“Every day we’re moving through this, and I’m so grateful and God is good.”
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Ireland added, “Throughout my life, he’s carried me through many tough battles. I’m a private person and I don’t share a lot, but like everyone, life is hard, and we go through tough stuff, but it’s a question of how are we going to go through it? And are we going to allow the actions of others to defeat us, define us, destroy us?
“No, we get back up, and we fight another day, and it’s comforting to know that we’re not alone in this.”
Kathy Ireland accused Stephen Roseberry, former President & CMO at Kathy Ireland Worldwide, of alleged fraud. (Greg Doherty)
According to the lawsuit, it was only when the couple attempted to loan money to their son for a down payment on a home when they realized that they had no funds and the defendants used their money.
The couple now has “no substantial retirement accounts” after more than three decades running a successful global company.
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“I’m saddened for my former business partners,” Ireland admitted. “These are people that I continue to care about. I don’t hate them and I refuse to let bitterness set in.”
“Scripture tells us, be angry and don’t sin, don’t let the sun go down on your anger. And it also tells us vengeance is mine, says the Lord. So I pray for the very best for them, and I pray they’ll do the right thing.”
Kathy Ireland was once estimated to be worth over $400 million due to her lucrative, self-named brand. (Ron Galella)
Ireland added, “Ultimately, it is not okay to lie, steal, and abuse our family or anyone. That’s something that I know, my husband and I, we’ve both worked very hard since childhood.”
“I know that God did not lead me from the cover of Sports Illustrated to the cover for Forbes to have anyone but him write this chapter or the next.”
The mother-of-three reflected on the words of former president Ronald Reagan with a new “trust, but verify” life motto.
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“I tend to be a patient person, a loyal person and there comes a time when patient is no longer kind, and we must have the courage and the kindness to confront difficult things,” Ireland insisted.
Kathy Ireland allegedly uncovered the alleged deception while attempting to loan money to her son Erik. (John Sciulli)
“When you’re forced into a situation to take action, that must happen. And we can’t just pretend something is not there and allow others to continue in behavior that is not good for them ultimately and not good others.”