9
Sep
2016

Peter Thomas Accused of Defrauding Investor Out Of $150k, Hit With Lawsuit

Written by TJB Writer in Blog
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It’s time for Peter Thomas to lawyer up. According to a new report, a lawsuit has been filed against the Real Housewives of Atlanta cast member, by an Atlanta investor who claims he was swindled out of money for a Charlotte-based nightclub.

Peter Thomas, Cynthia Bailey

Peter Thomas, Cynthia Bailey

The lawsuit was filed Thursday in Mecklenburg County Court against Thomas, who recently split from his wife Cynthia Bailey, also a cast member for the hit Bravo show.

Here’s the quick and dirty: Tony Taylor is an Atlanta-based investor, who filed the lawsuit. He claims Thomas convinced him to invest more than $150,000 into a Charlotte nightclub, but hasn’t seen the deal come to fruition.

Taylor alleges that he met Thomas’s brother, Clyde, in February at Thomas’ Charlotte bar – Sports One Bar and Lounge. According to the lawsuit, Clyde told Taylor that Peter Thomas planned to open another nightclub in Charlotte called Club 1. He stated that he was looking for business partners.

Two days later, Taylor claims that he returned to the bar and met with Thomas. He says that he was offered a 30 percent ownership in the club for an investment of $300,000.

Peter Thomas

Peter Thomas

Taylor says that he was promised – by Thomas- that he’d invested between $2 to $3 million of his own money into the new club. He also reportedly said he’d

arranged with producers of the Bravo network series ‘Real Housewives of Atlanta’ to have multiple segments of different episodes of the television show filmed at Club 1.

Thomas also alleged he was getting a spin-off show called “What’s Peter Doing Now” that would focus specifically on his nightclubs and investments in the Charlotte-area. He said that this would eliminate the need for marketing and advertising.

Thomas says that he promised Taylor would take an

active role in management from time to time as Thomas was required to travel extensively.

In the court docs, Thomas claims he met up with him again before the CIAA Tournament in Charlotte – this time at Club 1.

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That’s when Thomas reportedly offered to let Taylor host a CIAA party, featuring Carl Thomas, for a loan of $50,000 to cover event costs.

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In exchange, Taylor was to keep the money from cover charges and 20 percent of bar sales.

Thomas paid back the loan, plus $10,000, and an additional $4,000 for the bar sales.

Taylor claims that Thomas contacted him several times over the next month about investing in Club 1. He also says that on March 30, they met with Thomas’ lawyer to discuss a $150,000 investment for a 15 percent ownership. He was also promised regular updates and could access the books

any time you want.

Taylor states in the lawsuit that he paid the money through wire transfers and bank deposits over the next 60 days.

In short, Taylor claims that he was defrauded – saying he has “nothing evidencing an ownership or equity interest in Club 1” and is now suing to get it back.

He’s suing the reality star for fraudulent inducement, securities fraud, unjust enrichment, constructive fraud, obtaining property by false pretense and violation of punitive damages.

He’s requesting his money back plus a jury trial. Peter has yet to comment.

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