*The Panache Report claims rumors are circulating that Gloria Allred might take on the YaVaughnie Wilkins case if she (Wilkins) decides to take her married former lover, Charles Phillips, to court.  

If you haven’t heard, a couple of weeks ago, Wilkins paid thousands for billboards in New York, San Francisco and Atlanta to put their affair “out there,” so to speak.

The 3 story high adverts, which have now been removed, showed Wilkins and Phillips, a senior member of President Obama’s Economic Recovery Advisory Board, in an obviously friendly pose.

Phillips, 50, is also co-president of software giant Oracle Corporation. The LA Times reports that he is one of highest paid executives in Silicon Valley who is not a chief executive, pulling down $800,000 in salary and taking home nearly $20 million in 2009. He owns more than $80 million in Oracle stock and sits on high-profile boards, including Oracle and Viacom Inc.

There was also a URL/link on the ad to a website that supposedly offered info about Phillips’ eight-year affair with Wilkins, 41. Click here to see it, but there’s nothing there; only a headline saying “This Web site is coming soon.” It also says: “If you are the owner of this web site you have not uploaded (or incorrectly uploaded) your web site.”

So far Wilkins isn’t speaking, so no one knows her true motive for her actions, but it obviously forced Phillips’ hand. The software executive has been forced into an embarrassing public statement in which he admitted their affair.

Wilkins & Phillips

Phillips issued a brief three-sentence statement saying:

“I had an eight-and-a-half year serious relationship with YaVaughnie Wilkins. My divorce proceedings began in 2008. The relationship with Ms Wilkins has since ended and we both wish each other well.”

According to reports, Phillips recently reconciled with his wife, Karen (see below). The couple were seen at an awards ceremony in New York and pictured together at a gala held by the American Museum of Natural History in the city in November. They have a ten-year-old son, Chas.

Charles Phillips and his wife Karen

Read more HERE and see more photos of Wilkins and Phillips partying and on vacations, HERE.