EXCLUSIVE Female tycoon is private jet-crazed power lesbian who mocked male employee for being old, say ex-colleagues

Daily Mail​

7 hours ago

A Lamborghini-racing, private jet-loving executive has been accused of plundering her company's coffers in a trio of explosive lawsuits from former associates.
Jessica Mah, founder of venture capital firm Mahway Management, stole millions from the company to fund a lavish lifestyle including gifts for her co-founder, Andrea Barrica, with whom she is accused of having a lesbian affair, legal filings claim.
She also stands accused of lobbing ageist insults to a subordinate, according to one of the lawsuits.
Mah denies all the claims against her, with her representatives telling Daily Mail the attempted legal takedown is retaliation for a sexual assault lawsuit she filed against one of the plaintiffs, her investor Justin Caldbeck.
Caldbeck, who is the CEO of D Global Ventures, previously admitted sexual misconduct towards six women in his professional orbit after being exposed in the early stages of the #MeToo movement.
Tensions flared between him and Mah over the size of his return on his investment, which he believed was less than he had been promised.
Mah began the legal frenzy by suing Caldbeck on May 14, accusing him of threatening to 'destroy' and 'bankrupt' her if she did not pay him the profits he believes he was rightly owed.
Caldbeck denies the allegations and countersued hours later, claiming Mah 'seduced investors with misleading and often contradictory representations in quarterly investor reports'.
Luxe-loving tycoon Mah was also accused in a separate lawsuit of lavishing gifts and perks on her alleged lover Barrica at the company's expense. Both women have denied any romance.
'Mah is a charlatan living on investors' funds intended for Mahway's portfolio of start-up companies, the majority of which are only "unicorns" in the sense that they are also imaginary,' Caldbeck claims in his lawsuit.
In business, a 'unicorn' is a private start-up valued at $1 billion. Mah has bragged about being a 'unicorn breeder.'
Caldbeck claims in his suit that Mah, an alum of the Forbes 30 under 30 club, 'misappropriated' money from investors to pay for private chefs, a $1 million private jet, her $16,500-a-month home, luxury cars and vacations to destinations such as Park City, Utah, and Burning Man.
'As of February 2025, Mah had taken millions in fees, even though Mahway's portfolio company investments were underperforming. Those fees were millions of dollars more than Mah was entitled to under the relevant agreements,' Caldbeck's suit states.
Mah's Instagram page is chocked full of images of her exotic escapes, ritzy dinners and sports car-racing endeavors.
Caldbeck's claims were echoed in suits brought by two of Mah's former employees — ex-President Walter Delph and former chief financial officer William Mulholland — who sued the young executive for alleged wrongful termination and whistleblower retaliation.
Delph claims in his filing that Mah showered her alleged lover Barrica with benefits and gifts offered to no one else at the company, including paying 'hundreds of thousands of dollars on Barrica's personal vacations'.
Mah, 'would rub Barrica's upper inner thighs' during company meetings, according to the filing, which also accused Mah of sexual harassment.
Delph claimed in his filings that she forced him and other staffers to work from her West Hollywood home where they allegedly saw Mah's sexual partners 'in various stages of undress'.
The suit claims Mah bragged about her sexual encounters with other employees, who allegedly had to 'witness their sexual conduct and activities'.
He additionally accused Mah of age discrimination, claiming she'd frequently call him an 'old man' and ridicule his opinions in front of other employees.
Delph and Mulholland claim in their complaints that they were wrongly fired after raising concerns Mah was misleading investors.
Mah denied the allegations and hit back in a suit against Delph on May 15, accusing him of conspiring with Caldbeck and Mulholland to defame her.
'As alleged in the complaints, Mulholland and Delph joined Mr. Caldbeck's attempted 'shake down' in the hopes of making a quick buck themselves. Their claims have no basis in reality,' Mah's lawyers told Daily Mail.
All three men are represented by Caldbeck's longtime lawyer, Ivo Labar. They all claim their suits were filed independently from one another.
However it is not the first time such allegations have been leveled at Mah. She and her business partner on a previous venture were accused of misappropriating $1.9 million for personal expenses, in 2021 lawsuit filed by one of their business partners.
Mah's lawyer confirmed to Daily Mail that the lawsuit was settled out of court in 2023 for an undisclosed amount and that she did not pay 'a penny' towards it.
Mah insists that all the claims against her are defamatory and that she is the victim of sexual assault and a smear campaign.
She claims she has honored the terms she and Caldbeck mutually agreed on for his investment into Mah's venture, an LLC called Mahway Inception One.
'He knew the risks. He knew that it would take many years before the investment could return a profit,' Mah's complaint read.
'But in fall 2024...he demanded that Ms. Mah restructure the company...to pay him massive returns that the investment had not yet generated.'
Emails from July 2022 between Caldbeck and Mah shown in her lawsuit appear to demonstrate that Caldbeck was at least aware of the investment structure.
'Justin Caldbeck's allegations against Jessica Mah are objectively false. Caldbeck claims he was misled into investing in Inception One,' Mah's lawyers said in a statement.
'But the documents he signed state the exact profit allocation he now says he didn't know about. When Ms. Mah pointed that out, he refused to accept responsibility and filed a sham lawsuit,' the statement continued.
Mah's lawsuit claims Caldbeck extorted her by threatening to broadcast her alleged fraud to her investors, the media and even the Securities and Exchange Commission (SEC).
Her lawsuit also pointed to Caldbeck's sordid past with sexual misconduct. Six women accused him of unwanted advances in 2017, The Information first reported.
At the time, Caldbeck admitted to the allegations and resigned from his post at Binary Capital, an early-stage venture capital firm he co-founded.
Mah said Caldbeck repeatedly made 'unwelcome' advances toward her, one of which allegedly occurred during a business meeting at West Hollywood's Pendry hotel in June 2022.
In her lawsuit, she alleged Caldbeck 'touched the upper-most part of [her] thigh and put his hand next to her genitalia' after consuming several drinks.
Barrica, the woman accused of having an affair with Mah, filed her own lawsuit on May 20.
Like Mah, she accused Caldbeck of sexual harassment and extortion. She described an alleged incident where she claims he repeatedly tried to get on top of her and kiss her in an Uber while they were in Paris. Caldbeck denies this ever happened.
According to Barrica's lawsuit, Caldbeck tried to, 'leverage his repulsive behavior by threatening to spread objectively false allegations' that she was in a relationship with Mah.
Representatives for Mah and Barrica said the two are best friends and have never been romantically or sexually involved.
The representatives added that both women were in committed relationships at the time these allegations were made.
According both women's lawsuits, they tried to keep a professional relationship with Caldbeck until they had a falling out over his claims of their financial malfeasance.
Caldbeck allegedly told her at one point: 'Even if Jess said that I raped her, I wouldn't care. My investors wouldn't care either,' his lawsuit states.
Caldbeck's spokesperson, Sallie Hofmeister, dismissed Mah's claims as, 'nothing more than a calculated effort ... to distract from credible accusations that they have misused millions of dollars of investor funds'.
'Nearly a year ago, she explicitly threatened to weaponize past allegations against Mr. Caldbeck if he pursued legal claims related to fraud and embezzlement against her,' Hofmeister told Daily Mail.