12/9/09 – Amercan talk show host and high profile newcomer to the world of online poker, Montel Williams, is being sued for breach of contract and other claims after an online poker venture turned sour, reports WBBM780.com.
The report quotes from the Montel Media Group web site, revealing that in April 2008 Williams created a solid plan and an ingenious business model that he branded International Team Poker League.
The plan hit a snag last week when attorneys for Guardian Gaming Ltd. filed a lawsuit in a U.S. District Court claiming breach of contract by Williams and the league, along with claims of intentional misrepresentation, fraud, unjust enrichment and conversion.
According to the suit, on July 30, 2008, Williams and the ITPL agreed in writing to give Guardian a 25 percent stake in the league in exchange for a $300 000 upfront investment, in a deal that involved setting up and operating an Internet gaming site.
But, Guardian's suit alleges, Williams and ITPL found another company to complete the tasks delegated to Guardian on more attractive terms, and broke the contract with Guardian on September 18, 2008. To date the Guardian investment has not been repaid.
The five-count suit – claiming breach of contract, intentional misrepresentation, fraud, unjust enrichment and conversion – seeks reimbursement of Guardian's investment, punitive damages, prejudgment interest and legal fees.
According to the suit, Williams is a resident of Northern Illinois, while ITPL has its headquarters in Mansfield, Texas.
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