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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

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31.

They about to get paid!!!!!!!!!!!!!!!!!!!!!!!!!    

Where did he get 131000.00,why isn't Jons family filed a wrongful death suit against him,this kid shouldnt have a dime

1857 days ago
32.

who gives a shit    

Oh boo hoo!!! Who the hell would be stupid enough to invest $50k in a record production co.? Nick Hogan that's who!!! Anyone else would realize that it takes a hell of a lot more money to start up a production co.

1857 days ago
33.

Lori    

That boy is dumber than a coal bucket.

1857 days ago
34.

blackpepp    

Nick Hogan...read my type...YOU'RE A DUMB ASS. Keep repeating it until it feels good.

1857 days ago
35.

REAL    

Leave the Kid alone..

The car accident was just that and Accident. Sadly they happen everyday...

Tell Me None of You on this board have never had one !! Your are Lier's if you say no.

What happen to Jon is very sad, I bet Nick is having a lot of problems with that.
BUT He can Not Change what happen.,,,
Keep inn Mind Jon and Nick Both Got into the car at their own free will...

1857 days ago
36.

Melissa    

To No. #18:

I was never entertained by the show but disgusted on how Hulk's children are spoiled, rotten brats! It is a good thing that Brooke has a career and making money (even though her daddy probably gives her some money too) whereas the son is probably sitting on his couch right now scratching his balls and doesn't have any intelligence to have a career of his own. He is such a loser and not a contribution to society!

1857 days ago
37.

ted joseph    

Damon Elliot is the son of Dionne Warwick!

1857 days ago
38.

Agreed    

You said it ALL, Hussie...comment #18. Case closed. Wake up, Nick. Take a look at what you did.

1857 days ago
39.

Dixie    

Stupid is as stupid does. Karma's a bitch you little douchebag!

1857 days ago
40.

kim    

i believe they call that KARMA, little man!

consider yourself lucky, loser, it's not like your life is over cuz you're lying somewhere in a coma...

1857 days ago
41.

mfiasco    

Is that Pedro Martinez that ripped off St. Nick?

1857 days ago
42.

JANE DOE    


DID THIS HAPPEN WHEN HE WAS A MINOR????

1857 days ago
43.

Nancy    

What a freakin joke Nick Hogan is !!!! He should have given that money to his VICTIM. Hogans can you spell L-O-S-E-R-S ?? That what the whole family is .....LOSERS !!!!!!!!!!!!!

1857 days ago
44.

Watcher131    

Wasn't Nicky boy grabbing his ankles in prison in January? How could he make an investment? The Hogan family is a serious JOKE! ...and whatcha goin do brother!

1857 days ago
45.

q    

hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha

1857 days ago
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