As if it wasn't enough to lose $1 million in a recent Ponzi scheme, Kelsey Grammer is now being sued by actress Lydia Cornell.

The actress and talk-radio host is charging that the Frazier star lured her into a racket that he himself also reportedly lost money in.

Marty Singer, Grammer's attorney, says his client lost more than $1 million in the Ponzi scheme, so any claims filed against Kelsey Grammer concerning Staropoly are absurd and without merit, Singer told Radar.

Grammer lost $1 million of his own money, Singer said. Kelsey received nothing from the venture, monetarily or otherwise. ... Kelsey has not been contacted by any of the attorneys in the lawsuit, [has] not been served and has not been contacted by any governmental agency.

Cornell goes on to make further claims that Alex Varanos, the man accountable for the Internet-based Ponzi scheme Staropoly.com, used Grammer to draw investors. But according to Singer, his client never agreed to promote Staropoly and didn't authorize Varanos to use his name to bring in investments.

If Alex Varanos told people that TODHD [Staropoly's parent company] was Kelsey's network, then it was done without Kelsey's authorization, and against Kelsey's strenuous objections, Singer said. The parties and attorneys who sued Kelsey on these fictional claims will be exposed to significant liability for malicious prosecution.

Lawsuit documents obtained by Radar read, photographs and promotional materials of Grammer were used as sales tools to 'reel' in more investors. Hundreds, if not thousands, of innocent investors were 'taken in' by these Ponzi schemes, primarily due to Grammer's endorsements. Grammer knew or should have known that people and fans would rely on his celebrity in much the same was a guarantor that what they were about to invest in was legitimate. Essentially, hundreds...relied upon and trusted that Grammer would be careful about his affiliations; the last thing they expected was that he would endorse illegal Ponzi schemes.

While it seems a little odd that Cornell would single Grammer out since he lost money as well, the lawsuit, which was filed in Los Angeles Superior Court last August, didn't name him defendant until weeks ago, according to Radar.

The next hearing is set to take place on July 27.

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