Updated 8:05 p.m. ET — November 11, 2025 with a statement from named defendant Matthew Grella.
NEXA Mortgage, LLC, (dba NEXA Lending) has filed a civil lawsuit in the Superior Court of Arizona, Maricopa County, claiming that its former President, Mathew Grella, former Branch Manager Gregory Nichols, and several former employees allegedly conspired with Platinum One Lending, LLC to recruit loan officers, divert borrowers, and misappropriate confidential business information for the benefit of a competing lender.
The complaint, filed Nov. 5, alleges that Grella and Nichols “acting together and in concert” with Platinum One, orchestrated a coordinated “employee raid” intended to damage NEXA’s business operations. According to the filing, the defendants allegedly solicited NEXA’s producing loan originators, diverted active borrowers, and exploited confidential business and borrower information in violation of contractual and fiduciary duties.
NEXA’s dispute with its co-founder Mat Grella erupted publicly in early 2024 when NEXA announced Grella’s termination after he requested a buy-out of his 49.5% ownership interest; the company alleged the relationship had become untenable and Grella had disengaged from leadership.
Prior to Grella's termination, Grella filed suit against NEXA CEO Mike Kortas, accusing him of Jet-related spending without consent. Then, NEXA counter-sued Grella and his spouse, Sheridan Murray-Grella, alleging breach of contract, fiduciary duty violations, and improper asset sales.
In September 2024, a judge granted Grella’s motion to dismiss NEXA’s complaint without prejudice, prompting NEXA to prepare an amended complaint. Most recently, in November 2025, NEXA expanded its legal action to include Grella, his spouse, and rival firm Platinum One Lending, LLC, alleging a broader scheme of employee poaching and trade-secret misappropriation.
Today, in a statement sent to NMP, NEXA Lending CEO Mike Kortas said the company remains focused on protecting its people and ensuring accountability. “NEXA isn’t in the business of playing games,” stated Kortas. “When someone or some group attempts to harm the company and all those amazing people that are part of our family — we will do everything to protect their interests. In this case, I will just let the facts speak for themselves.”
The complaint names 15 defendants and 25 Does. The former employees that were named include: Gregory Nichols; Anthony and Cristy Galaviz; Brandon Watson; Kristin Berg; Naveen Vadhwa; Nicole and Katey Powalisz; Shannon Bell; Taylor McCarty; Alexandra Marchand; Tabitha Jimenez; Zane Darlington; Mathew and Sheridan Murray-Grella; and Platinum One Lending, LLC.
Grella, who formerly served as NEXA’s president and holds a 49.5% dissociated membership interest in the company, was terminated “for cause” in March 2024, according to the complaint. NEXA alleged that following his departure, Grella used insider knowledge of NEXA’s operational structure, compensation systems, and technology to assist Platinum One, a Michigan-based lender that he co-owns through a holding company, Black Chicken LLC.
The plaintiff further alleged that Nichols, while still employed as a NEXA branch manager, acted as an intermediary between NEXA and Platinum One. Nichols allegedly used his position to identify and recruit loan originators, coordinate mass resignations, and transfer confidential borrower data and pipeline information to Platinum One. NEXA claimed the scheme caused the loss of entire production teams, borrower relationships, and significant revenue.
The complaint also claimed that Nichols and several co-defendants misrepresented their reasons for leaving the company during exit interviews, stating they were leaving the industry or joining unrelated firms, when they were allegedly preparing to join Platinum One. NEXA alleged that within weeks of their departures, many of those same employees and borrowers appeared in marketing materials as part of the “Nichols Team at Platinum One.”
NEXA claimed that all individual defendants had signed confidentiality and non-solicitation agreements prohibiting the solicitation of NEXA employees or the use of confidential data for at least 12 months following termination. The complaint alleged that both Grella and Platinum One were aware of these restrictions but nonetheless encouraged the coordinated departures.
The eight-count complaint includes causes of action for breach of contract, breach of duty of loyalty, tortious interference with contract, tortious interference with business expectancy, aiding and abetting tortious conduct, unfair competition, civil conspiracy, and unjust enrichment.
NEXA is seeking compensatory and punitive damages, restitution, and injunctive relief to prevent the defendants from using or retaining any NEXA borrower or confidential business information. The company is also requesting disgorgement of profits allegedly gained from the use of its proprietary data and relationships.
According to the complaint, NEXA believes the defendants’ conduct was “intentional, malicious, and designed to harm” the company’s operations and reputation.
Kortas added that NEXA’s focus now is ensuring accountability and stability for its workforce. “Our focus right now is simple: protect our people, our partners, and the thousands of loan officers who count on us,” he said. “Any actions taken against NEXA will be met with accountability, period. We’re working closely with legal counsel to ensure that happens the right way.”
Kortas added that while the lawsuit focuses on protecting the business, NEXA’s long-term trajectory remains unchanged.
“I’ve always believed opportunity shows a person’s character,” Kortas said. “Some people use it to grow — others waste it. Either way, NEXA keeps moving forward. We’re not slowing down for anyone.”
In response to the allegations, Grella told National Mortgage Professional the lawsuit reflects what he described as an ongoing personal feud.
“This lawsuit is just another example of what I believe to be a Mike Kortas’s litigious vendetta against me since our falling out,” Grella said. “Platinum One has never recruited NEXA employees nor asked them to steal trade secrets. Former NEXA employees who joined us here have largely left NEXA due to a toxic, untenable work environment. Platinum One is composed of a competent team of professionals who do not need to steal NEXA’s employees, customers, methods, or strategies to thrive.
"I can’t help that I have extensive knowledge of NEXA’s inner workings, having been in charge of day-to-day operations until, as my own complaint details, my wrongful termination. However, I am eager to turn over a new leaf at Platinum One, not build a copycat organization.”
As of first publication, a judge has not yet reviewed the complaint.
Correction: This story was edited to correct the timing of Mathew Grella’s initial lawsuit against NEXA CEO Mike Kortas.
