Home : The Hogans : Nick Hogan -- I Was Ridden for $130,000

Nick Hogan -- I Was Ridden for $130,000

Posted Jul 23rd 2009 1:45AM by TMZ Staff

Nick Hogan is as bad of an investor as he is a driver -- in a brand new lawsuit, Nick claims two guys he tried to start a business with rode him for a grand total of $130,767.75.

Nick Hogan Damon Elliot

Nick is suing Louis Adkinson and Damon Elliot for breach of contract after he agreed to invest $50,000 in a record production company called "Confidential South, LLC" back in January -- a company Nick says never even got off the ground.

According to the suit, filed in L.A. County Superior Court, Nick claims Adkinson and Elliot both promised to invest 50k of their own ... AND told Nick everyone would get their money back if the company never formed. Surprisingly, the suit says neither of those things happened.

To make it worse, Nick alleges the evil duo ran up $80,767.75 on his American Express card without his permission -- so he's also suing them for fraud. Nick wants the 130k back -- at least.

See Also



Tags: damon elliot, DamonElliot, lawsuit, louis adkinson, LouisAdkinson, nick hogan, NickHogan, sued

Comments [84]
SHARE |
4ie6

Relevant Posts

Reader Comments

(Page 1 of 6) | 1 | 2 | 3 | 4 | 5 | Most Recent | Next 15 Comments

1. Hahaha. Karma rules.

Posted at 1:49AM on Jul 23rd 2009 by superchunk

2. BLOOD MONEY.

Posted at 1:53AM on Jul 23rd 2009 by What goes around, comes around

3. balls

Posted at 1:55AM on Jul 23rd 2009 by balls

4. he's got the brains of an overripe turnip.
he should not be allowed outside unattended.

Posted at 1:55AM on Jul 23rd 2009 by Brad

5. It's pay back time...punk.
Eat it and take it like a man.
Mom and Daddy will no doubt help you with that line of credit!

Posted at 1:58AM on Jul 23rd 2009 by tellitlikeitis

6. It's payback time...punk.
Eat it and take it like a man.
Mom and Daddy will no doubt help you with that line of credit.

Posted at 1:57AM on Jul 23rd 2009 by tellitlikeitis

7. How does he have an american express card without having a job? And a card with a limit like that anyways? Oh wait, must be nice to have a rich daddy who gives you everything. LOSER!

Posted at 2:00AM on Jul 23rd 2009 by Nicole

8. LoL, That's funny. How did they get his credit card to run it up? Should the credit card company be doing something about that? Whatever a** hole-Nick.

Posted at 2:02AM on Jul 23rd 2009 by Maya

9. You wanted your drugs for FREE? Drug test Nick Hogan. He snorted his cash up his nose.

Posted at 2:06AM on Jul 23rd 2009 by Jess

10. Big juicy balls!

Posted at 2:11AM on Jul 23rd 2009 by Saucenuts

11. Karma is a bitch Nick!

Posted at 2:11AM on Jul 23rd 2009 by Brooke HOgun

12. "The music business is a cruel and shallow money trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. There's also a negative side."

Posted at 2:15AM on Jul 23rd 2009 by Notarecordlabel

13. Is it just me or is anybody surprised that nick even had $50,000 to give. I know Hulk wasn't that stupid to just give him that kind of money.

Posted at 2:41AM on Jul 23rd 2009 by Atwn094L

14. ha ha ha, it is true there are suckers born every minute..get a job you deadbeat.

Posted at 2:42AM on Jul 23rd 2009 by pinkfloyd

15. It will probably be said a million times on this page, but that's because it's oh so true: NICK, KHARMA IS A BITCH! This is hopefully only the beginning. At least your enabling family will bail you out and you'll maybe see some of that blood money back...I'm afraid your incapacitated buddy is not quite so lucky, is he?

If anybody sees these two scammer dudes out on the street, buy 'em a drink.

Posted at 2:45AM on Jul 23rd 2009 by Yep

| 1 | 2 | 3 | 4 | 5 | Most Recent | Next 15 Comments