TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

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

7/23/2009 2:45 AM PDT 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.

84 COMMENTS

No Avatar
16.

Jazzy    

He's lucky he didn't get 'ridden' in jail! Then,he wouldn't be the little entitled-minded smartass he remains to be.

1889 days ago
17.

Sam Sunshine    

It does goes to show you that even if you have money it does mean your smart!
What a dumb azz!

1889 days ago
18.

joe    

why does everyone try getten over on the hogans? they enetertaned us for years i feel bad for them just let them be i hope those idiots who tryed robbin him go to jail!

1889 days ago
19.

US_DOJ_Gov    

Adkinson & Elliot had it planned from the beginning to take Nick Hogan for his money.

Their "Plan" was never to open a record production company . . . . their "Plan" was to take Nick Hogan for as much money this 19-Year-Old would be willing to give them.

Nick = Young & Dumb

How do you allow anyone to continuously run up multiple charges on your American Express card to a total of $80,000+ ??

Clear example of not having enough Life Experience to see this unfolding . . . . which is why you do not give access to that amount of money to an adolescent.

.

1889 days ago
20.

omg!    

a fool and their money....

1889 days ago
21.

sane    

Good for him he deserves it How the hell do you have money with NO JOB

1889 days ago
22.

John    

They RODE him. hahaha...too funny.
He was riden alright, and he loved every minute of it.

What a douchebag.......

1889 days ago
23.

Sumjoe    

You gals & guys may not be aware, but Damon hasn't done a thing reputable since he socked Ron Fair, the then President of A&M Records. They got a restraining order out on him, and he wasn't allowed anywhere near A&M, Geffen, Universal, nor Interscope. Bad carreer move! Wish I could've warned ya Nick as I've met your Pops, and he is hella kool...

poo-poo-ka-ka happens...

1889 days ago
24.

hamilTonyan    

Wow he got ridden in jail for nothing

1889 days ago
25.

sane    

Why didn't you give that money to John's family?????????????????????

1889 days ago
26.

Wanda W.    

I have NO pity for this spoiled, arrogant brat, from a family of spoiled, arrogant people.. He put that young man in the shape hes now in with his irresponsibility, and he has it coming. Who told him to give that kind of money to anyone anyway? And for what,a record company, so he could be a big man. He fell flat on his ugly face ,again, GOOD. I hope he never has anything of real value. That whole family is nuts, and are filled with self serving entitlements . KARMA IS A BITCH , HUH NICKEY BOY !!

1889 days ago
27.

Kay    

This idiot has learned a lot from his parents: How to be a selfish douche, act like a total moron, and sue. Not bad for a guy with no brains.

1888 days ago
28.

Coco    

At least he has his life, unlike the friend he crippled.

1888 days ago
29.

Coco    

heeheehee...no sympathy on this board

1888 days ago
30.

Sandy H    

IT'S CALLED 'KARMA' NICK..

1888 days ago
Previous 15 Comments | 1 | 2 | 3 | 4 | Most Recent | Next 15 Comments

Around The Web