Hulk Hogan - Nick Hogan Sues Over Failed Investment

HULK HOGAN's son NICK is taking legal action against two businessmen he claims ran up an $80,000 (£53,000) bill on his credit card without permission.

The 18 year old has filed suit against Louis Adkinson and Damon Elliot citing breach of contract after he handed over $50,000 (£34,000) to launch record production company Confidential South, LLC in January (09).

Hogan alleges both men agreed to invest their own $50,000 shares and even claimed investors would be refunded if the firm failed - which Hogan insists it did.

The teen is also suing for fraud, charging Adkinson and Elliot with using his American Express credit card to charge $80,767.75 (£53,845) without his permission.

The Hogan Knows Best reality star is seeking compensation for the $130,000 (£87,000).