In a complaint that was filed in the 15th Judicial Circuit Court in Palm Beach County, Johnna and Lauro Pomasan alleged that Valley “induced” them to lend approximately $640,000 through a series of convertible promissory notes toSemi-retired from the electronics manufacturing company that she co-owns with her husband, Johnna Pomasan met Valley while shopping in his Palm Beach store.
A processor has been to Valley’s atelier on Worth Avenue on “multiple occasions,” according to Agnetti, who said, “it was not operating over the summer to my understanding.”Valley was in the Hamptons for “multiple months and he travels a lot,” according to D’Annunzio. “He’s very easy to track down. He continually shares on his Instagram where he is at. His client seems to find him. It’s really unfortunate that they are creating something that is not true.
The lawsuit alleged that Valley falsely stated to the Pomasans that there was value in the “convertible” nature of the notes, “when in fact there was no value in the convertible nature of the notes since AVL’s common stock was of limited value and because there was no likelihood of a ‘qualified financing’ event as had been described in the promissory notes.”
After dropping out of the University of Miami, Valley opened his first atelier and shop in Coconut Grove in 1995. He chose a location near a few all-girls private schools, having predicted that many students would shop in his store instead of eat at lunch time. Valley later relocated to New York to attract a wider audience.
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