ED Magedson – Founder
Odain WatsonInternet USA
Odain Watson aka Odain Lemonte Watson dba Odaingerous, Inc. dba Iconic Management Group dba Lamonte Entertainment Default on loan repayment Los Angeles, CA Los Angeles, California
Odain Watson aka Odain Lemonte Watson dba Odaingerous Inc. dba Iconic Management Group dba Lamonte Entertainment
I had known Odain for almost 2 years before I was approached in June 2013 for a personal loan of $700.00 for a security deposit on an apartment he was attempting to rent. I loaned it to him on the premise that he would keep me up-to-date on the repayment of the loan and he promised that he would pay it back within 30 days, both of which he failed to do. Given our friendship, I had let this slide because of the financial hardships he was experiencing. If I had known at the time that his hardships were due to a living a luxury lifestyle he could not afford, I would not have not made this loan.
I was brought in as CEO of Odaingerous in September 2013. At the time, the company was very immature, in the red after a failed jacket line launch, and was very much in need of experienced management to turn the company around. [continued below]....
In September 2013, I was asked to provide a loan for the purpose of sample production for a second jacket line. Due to the failure of the first jacket line launch, I asked Odain over and over again if he felt this jacket line was marketable, primarily because this was my first venture into the fashion industry and I was relying on his experience in this area. Despite his assurances that the jacket line would sell out fast, not one jacket sold. The jackets were featured in a series of high-visibility billboard ads throughout Los Angeles. Odain had informed me that a friend paid for the billboards, despite the fact that Odain opened an invoice account with CBS Outdoors and charged $6,500 for the billboards to the account behind my back. He even lied to CBS and told them that he had paid the invoices, despite not having done so.
Towards the end of our business partnership, he went behind my back and started working on a niche eyewear collaboration, despite my warnings that it was a bad move for the company. At this point, I started getting weary of Odain and did a background check. I discovered via the LA County Superior Court Criminal Index that Odain was arrested in February 2012 and, according to the report, was found guilty and convicted of burglary, forgery (handwriting), forgery of an official government document and debit/credit card (access card) fraud.
In a business trip to Las Vegas around February 2013, he charged gifts and alcohol to a stolen credit card. Odain told me that he was not at-fault for this and blamed another person in his party, though I had a hard time believing this. Evidence was provided to me by an anonymous source in which Odain claims to make $19,000 a month (which he does not) on rental applications and that he provides fake pay stubs and landlord references under his friends’ names. He was also arrested again in April 2014 on the following alleged violations of California law, according to the LA County Superior Court Criminal Index: Willful obtainment of personal identifying information with unlawful intent, possession of personal information of 10 or more persons with the intent to defraud, burglary, and knowingly purchasing or receiving stolen property.
I had eventually decided to split from Odaingerous. Odain had agreed to repay the amount he owed to me, but flaked on the second payment. At this point, since the amount was only $1,951.07, I decided it was just easier to cut my losses and share my experience about Odain so another person can avoid my headache.
This report was posted on Ripoff Report on 08/23/2014 05:18 PM and is a permanent record located here: http://www.ripoffreport.com/r/Odain-Watson/internet/Odain-Watson-aka-Odain-Lemonte-Watson-dba-Odaingerous-Inc-dba-Iconic-Management-Group-d-1171869. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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