Johnna Pomasan, a prominent businesswoman in Palm Beach, has filed a lawsuit against fashion designer Alvin Valley, often known as the “King of Pants.” Pomasan alleges that Valley scammed her out of a $750,000 investment meant to support his fashion brand, Alvin Valley Limited Inc. The lawsuit outlines claims of financial misconduct and intentional evasion of responsibility, sparking a scandal within Florida’s social circles.
Florida business woman Johnna Pomasan is suing designer Alvin Valley.
The Alleged Investment Scam
According to the lawsuit, Pomasan and her husband were persuaded by Valley to lend his company $640,000 through convertible promissory notes. Valley allegedly presented this as a sound investment opportunity in spring 2023, promising the potential for returns through a “qualified financing” event. However, the couple later discovered the company’s common stock held limited value, and there appeared to be no realistic likelihood of the financing event that would facilitate repayment.
Johnna and her husband, Lauro G. Pomasan, filed a lawsuit earlier this year.
Failure to Repay and Alleged Intentional Evasion
Court documents state that despite the expiration of the promissory notes’ maturity date, Valley and his company refused to repay the principal and accrued interest, ignoring multiple demands for payment. Since April, the Pomasans have reportedly attempted to serve Valley with court papers 17 times, only to find him allegedly “purposely evading affidavits.” Pomasan’s attorney, John Agnetti, indicated that Valley’s evasion tactics have made it challenging to hold him accountable through standard legal channels.
Valley’s 2023 NYFW show brought out celebs like Natasha Bedingfield.
Public Fallout and Social Media Announcement
In a public announcement on social media, Pomasan stated that she had severed ties with Valley “after careful reflection.” She expressed that since 2023, she and her team “worked tirelessly” to elevate Valley’s brand, only to realize that he “did not share our values and principles.” Her post gained attention and support from the Palm Beach community, with many reaching out to her in solidarity. In response, Pomasan encouraged supporters to contact her lawyer, John Agnetti, and provide statements for the court case.
Pomasan publicly announced she was no longer affiliated with Valley.
Valley’s Response and Denial of Evasion
In a reaction to Pomasan’s post, Valley reposted her announcement as part of a video set to Madonna’s “The Power of Good-Bye,” captioning it, “Sometimes is [sic] hard to say goodbye.” A source close to Valley claimed that he had not been officially served with the lawsuit, insisting he wasn’t avoiding service but was often traveling between Paris and the Hamptons. According to this source, Pomasan could have served him in the Hamptons during the summer but chose not to.
Pomasan says she’s received an outpouring of support since she went public.
Speculated Rivalries and Additional Allegations
A source close to Valley speculated that the dispute might be fueled by socialite rivalry and “investor relations gone bad.” The source alleged that tensions rose after Valley chose to host a trunk show with Kara Ross, another Palm Beach socialite, at her home rather than Pomasan’s. Pomasan dismissed this claim as “deflection and diversion,” emphasizing that the real issue was Valley’s failure to repay her investment and fulfill his obligations.
Conclusion
The case continues to generate attention within Palm Beach’s elite social circles, with Pomasan asserting her intention to pursue justice and highlighting her belief in “the power of integrity.” Meanwhile, Valley’s legal team maintains that the lawsuit reflects a simple business disagreement. As the legal proceedings unfold, the case stands as a cautionary tale about the risks of private investments and the importance of accountability in business relationships.
