More financial woes for Peter Thomas… at least Cynthia Bailey won’t have to bail him out this time! The Real Housewives Of Atlanta star is being sued – again -this time by Atlanta investor Tony Taylor who accuses Peter of defrauding him out of more than $150,000!
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Tony alleges that Peachter convinced him to invest more than $150,000 into Club 1, a nightclub Peter and his brother Clyde opened in February in exchange for a portion of ownership, but Tony now says Peter has refused to uphold his terms of the agreement.
According to Tony’s lawsuit filed in Mecklenburg County Court, earlier this year he met Peter’s brother Clyde at Sports One, the club Peter co-owns with Kordell Stewart. Tony was told Peter was looking for new investors for Club 1, another venture he was opening soon. Apparently Tony planned to give Peter $300,000 in exchange for 30 percent ownership of Club 1. Additionally Peter promised Tony that would have an active role in managing and developing the new club because “Thomas was required to travel extensively.” For what, exactly?
WBTV reports that allegedly Peter told Tony he had already invested “$2 to $3 million dollars of his own money” into building and developing Club 1 (BWHAHAHAHHAHAHAHAH) and had confirmed with Real Housewives Of Atlanta producers that “multiple segments of different episodes” would be filmed at Club 1 to advertise the business. But then Cynthia filed for divorce… ?
Peter also told Tony that he had a spinoff in the works called “What’s Peter Doing Now” which would focus on his entrepreneurial ventures, specifically his Charlotte-based bars, and Club 1 would have plenty of marketing and advertisement.
(Peter attempted to get a spinoff of the ground a few years ago, angling for it to be a Vanderpump Rules type show, but it never panned out apparently.)
Before officially becoming partners Peter even allegedly allowed Tony to participate in co-hosting a party, under the condition that Tony would front Peter a loan of $50,000 to cover costs associated with the event, and in exchange Tony would get all the money earned from cover charges, plus 20% of bar sales from the night. Tony says Peter promptly repaid his loan, plus an additional $10,000 and $4k from the bar sales. Therefore Tony felt he could trust Peter as a future business partner…
They allegedly met several times over subsequent months to work out a deal for Tony’s investment and on March 30, finalized an arrangement in which Tony would invest $150,000 (not the original $300,000 they planned on) in exchange for 15% ownership of Club 1 – plus Peter promised Tony would have access to the books and would receive regular updates on the club’s progress. Over the next 60 days Tony forwarded the money to Peter in certified checks and bank wire transfers.
However fast-forward a few months later and Tony says he has received no documentation from Peter “evidencing an ownership or equity interest in Club 1” and now he believes he was swindled out of his investment!
Tony is suing Peter for fraudulent inducement, securities fraud, unjust enrichment, constructive fraud, obtaining property by false pretense and violation of punitive damages. He is seeking his investment returned, plus a trial by jury!
Tony is requesting his money back, plus a jury trial.
Peter responded to the suit on instagram, writing, “REALLY!!!!!! THIS GAME ISN’T FOR EVERYONE, @cluboneclt ONLY THE STRONG SURVIVE” [SIDE EYE]
After leaving the Atlanta club scene, the RHOA star moved to Charlotte to open Sports One.
TELL US – ARE YOU SURPRISED PETER IS BEING SUED AGAIN?
[Main Photo Credit: Instagram]