Palm Beach businesswoman Johnna Pomasan claims nan alleged “King of Pants” manner designer, Alvin Valley scammed her retired of $750,000 erstwhile she and her hubby invested successful his brand.
In nan suit revenge earlier this year, Pomasan alleges Valley convinced nan mates to indebtedness his institution a full of $640,000, arsenic secured by convertible promissory notes.
But she claims successful nan tribunal papers that nan investor mates learned nan company’s communal banal was of constricted worth and, “there was nary likelihood of a ‘qualified financing’ arena arsenic described successful nan convertible promissory notes.”
The suit further claims that Valley approached nan Pomasans successful outpouring of 2023 pinch “an alleged business opportunity” relating to his company, Alvin Valley Limited Inc.
“Alvin and AVL falsely represented that nan convertible promissory notes would beryllium honored erstwhile astatine each worldly times, Alvin and AVL has nary volition of honoring nan convertible promissory notes,” nan suit claims.
Additionally, nan suit alleges nan manner marque refused to repay nan Pomasans, “the main magnitude and accrued liking contempt nan expiration of nan maturity day and aggregate demands for payment.”
They declare they’ve tried to service Valley pinch tribunal papers 17 times, but allege that since April he has been, “purposely evading affidavits,” Pomasan’s lawyer told Page Six.
Pomasan took her conflict nationalist earlier this period by announcing via societal media that she trim ties pinch nan designer, “after observant reflection.”
“Since 2023, I person worked tirelessly to support Mr. Valley pinch nan purpose of elevating his brand. However, contempt our dedication and sizeable efforts, it became clear that Mr. Valley did not stock our values and principles,” she posted.
Pomasan has seemingly received support from nan Florida societal set.
“I want to definitive my heartfelt gratitude to everyone who has reached retired complete nan past fewer weeks… Your encouragement has reinforced my belief successful nan powerfulness of integrity,” she wrote.
She’s besides encouraging supporters to interaction her lawyer, John Agnetti, to springiness statements for nan judge successful nan case.
Valley reposted her announcement arsenic portion of a video reel group to Madonna’s track, “The Power of Good-Bye.”
“Sometimes is [sic] difficult to opportunity goodbye,” he captioned his post.
A root adjacent to nan designer confirmed to Page Six, “he has not officially been served nan papers,” but insisted, “he’s not evading it by immoderate means.”
The root added, “He travels a lot. Paris, Hamptons. Every clip they come, he’s not home. He was successful nan Hamptons each summer. She could’ve served him there, but she didn’t.”
The insider besides chalked up nan play to “investor relations gone bad,” and immoderate Palm Beach socialite jealousy mixed in.
The root speculated that Pomasan is coming aft her finance aft Valley allowed different Palm Beach socialite, Kara Ross, to big his trunk show astatine her home.
“[Pomasan] wanted it astatine her home,” and, “got very suspicious and competitive,” they said.
Pomesan, however, blasted nan speculation arsenic a “poor effort astatine some deflection and diversion.”
She added nan allegation, “does not remotely reside nan existent rumor which is taking money from maine and not surviving up to his obligations. Trying to sanction driblet Kara Ross is some pathetic and sad.”
A spokesperdon for Valley told us, “because this is an progressive ineligible case, Alvin has been instructed not to comment. He hopes that everything will beryllium settled n courts successful nan weeks to come.”
In nan meantime, “It’s still business arsenic usual. The king of pants has conscionable launched his caller denim statement –which has been doing phenomenal,” nan rep concluded.