Nick Hogan Sues Over Failed Investment
23 July 2009
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).
Contactmusic
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