Tea party TV ends in suit ---Local investors claim they were defrauded Tea Party TV network scheme

[kpete]

Source: The Tennessean

Teapartyhd.com is still active, but the proposed TV network isn't.

Written by
Brandon Gee | The Tennessean


Local investors claim fraud in Tea Party TV network scheme
A group of Middle Tennessee conservatives is suing a California businessman for $19 million, claiming he tricked them into investing in a sham business idea for a television network devoted to the tea party movement.

Among those suing is Bill Hemrick, the Brentwood millionaire who is the Tennessee financial director for Republican presidential candidate Michele Bachmann. Hemrick has been active in tea party circles in Williamson County, helping to organize the National Tea Party Convention in Nashville in 2010 that was headlined by Sarah Palin. He worked briefly raising money for presidential candidate Herman Cain.

Hemrick and the other plaintiffs — Howard Luartes, Reinhold Holtkamp and Melvin W. Martin of Williamson County; James Hearn of Davidson County; and James Huffnagle of Dickson County — ultimately invested $287,500 in the tea party television venture.

Hemrick and Anthony Loiacono founded Tea Party HD in 2010, but Hemrick and the other investors now claim in the lawsuit that Loiacono never kicked in his own promised investment and used the plaintiffs’ money as his own “personal bank account” to pay himself, his family members and his business, Heads & Tails Inc., “exorbitant rates” for the few projects Tea Party HD undertook.




Read more: http://www.tennessean.com/article/20111110/NEWS/311100013/Middle-TN-investors-file-suit-claim-they-were-tricked-tea-party-TV-scheme?odyssey=mod|newswell|text|FRONTPAGE|s

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http://tpmmuckraker.talkingpointsmemo.com/2011/11/conservative_investors_sue_over_sham_tea_party_tv.php?ref=fpb

[meegbear]

1. BWAH-HAHAHAHAHAHAHAHA!!!!

[freshwest]

15. +1

[Lindsay]

2. Why am I

not surprised?

:evilgrin:

[Blue Owl]

3. TPTV

Honey, please turn off the Toilet Paper channel...

[Champion Jack]

4. ha!

[Lint Head]

5. The one percenters live in Brentwood TN, Franklin TN and Belle Meade in Nashville.

Typical. Hermie the sexual predator was just in Franklin promoting his book at Cool Springs Galleria. I'm sure some of these smart investors were there.

[JohnnyRingo]

6. They should have put their money somewhere safe....

like Goldline.

[deadinsider]

7. Says alot about Bachmann's campaign

Among those suing is Bill Hemrick, the Brentwood millionaire who is the Tennessee financial director for Republican presidential candidate Michele Bachmann.

[and-justice-for-all]

8. I am shocked I say, just shocked...

:eyes:

[Brother Buzz]

9. Bill Hemrick, a huckster from the get-go, getting played - priceless

God has been busy baking up a storm; she's serving just desserts
:rofl:

[Turbineguy]

10. I think the word for that is:

"turkey shoot".

[gratuitous]

11. Mmmph! *Snerk* Grmphrbg

BWAHAHAHAHAHA!

:rofl:

Mercy, that's funny! {Pant, pant} Oh dear. Wait, here it comes again:

BWAHAHAHAHAHA!

:rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:

[JoePhilly]

12. Blame Yo Self!!! The Market has spoken!! Frivolous lawsuit!!

:rofl:

[Downwinder]

13. Makes it pretty clear that the tea party was profit driven. n/t

[snooper2]

14. What the fuck are "Middle Tennessee conservatives"

Are these teabaggers that are scared to get close to the state's boundries? :rofl:

[madinmaryland]

16. Heh! I thought the teabaggers hated lawsuits and trial lawyers.

Too funny!!

[fascisthunter]

17. nothing relating to this Tea Baggery is Legit.... their Ideology itself is bankrupting our country