Investor files second suit against iWire

By Kelly Holleran | Oct 20, 2009

A man who loaned a company $200,000 after receiving phone calls from its alleged chief executive officer says he has never been repaid the money and has filed his second lawsuit in the matter.

Herschel Johnson filed a lawsuit Oct. 9 in St. Clair County Circuit Court against Dan Levine.

Johnson claims Levine called him multiple times in July and August of 2005, pretending to be the chief executive officer for a company called iWire. During the phone calls, Levine told Johnson that iWire was worth millions of dollars, that it was an extremely profitable company, that it possessed a license for certain payroll debit card technology that was worth millions and that it had substantial, lucrative contracts, according to the complaint.

Based on Levine's representations, Johnson loaned $200,000 to iWire in three separate payments on Aug. 1, 2005, Aug. 10, 2006, and Aug. 9, 2007, the suit states.

However, Johnson claims none of Levine's representations were true.

So, iWire made its scheduled monthly interest payments on the money until fall 2007 when it defaulted on the loans, the complaint says.

Johnson already obtained a judgment on Feb. 19 for $233,167.67 against iWire.

Now he is seeking $245,240.57, which includes interest at nine percent per annum, from Levine.

Daniel C. Nester and Christopher M. Blaesing of Bryan Cave in St. Louis will be representing him.

St. Clair County Circuit Court case number: 09-L-545.

Want to get notified whenever we write about Bryan Cave ?

Sign-up Next time we write about Bryan Cave, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Bryan Cave

More News

The Record Network