SUPERIOR COURT OF THE STATE OF CALIFORNIA COUNTY OF SAN DIEGO
xxxxxx Maddox, Plaintiff, v. William Percival, Desert Gypsum Resources (DGR), Gold Project-PI, Defendants.
VERIFIED COMPLAINT FOR:
Breach of Contract
Jury Trial Demanded
PLAINTIFF xxxxxx Maddox sues defendants William Percival, Desert Gypsum Resources (DGR), Gold Project-PI (collectively hereafter Defendants) for Breach of Contract, Misrepresentation, Fraud, Money
Damages, and states:
This action is for damages exceeding $25,000.00.
At all times material to this lawsuit, plaintiff Jamie Maddox was a resident of San Diego County, CA.
At all times material to this lawsuit, defendant William Percival was a resident of Riverside County.
At all times material to this lawsuit, defendant Desert Gypsum Resources (DGR) was a resident of Riverside County, California.
At all times material to this lawsuit, defendant Gold Project-PI was a resident of Riverside County, California.
All acts necessary or precedent to the bringing of this lawsuit occurred or accrued in San Diego County, California.
This Court has jurisdiction.
Jerry Maddox is the deceased husband of the Plaintiff.
On April 18, 2006, Jerry Maddox and William Percival entered into a written agreement whereby Defendants promised to return twenty-five-to-one return for monies loaned or one million (1,000,000.00) dollars for a loan of forty thousand (40,000) dollars.
Copy of agreement attached as Exhibit A.
Defendant William Percival claimed that as a 2nd Option on said agreement, he has a 3200 acre Gypsum mine in Blyth, California that was for sale.
Defendant William Percival claimed that he planned on putting $ 100,000,000.00 in equity in a High Yield Trade from said 2nd Option.
Defendant William Percival claimed that said 2nd Option would generate enough funds to pay the 25-to-one return on Plaintiff's Loan of $ 40,000.00.
Jerry Maddox borrowed $ 40,000.00 for the sole purpose of loaning it to Defendants.
Jerry Maddox was to keep $ 15,000.00 as pre-payment.
On April 21, 2006, Jerry Maddox loaned defendant William Percival $ 25,000.00 via a wire transfer.
Copy of wire transfer attached as Exhibit B.
The loan was to be repaid by May 2006.
On March 11, 2011, Jerry Maddox passed away.
Death certificated attached as Exhibit C.
It has been around six years and Defendants have failed to repay Plaintiff twenty-five to one return for monies loaned pursuant to the agreement.
Defendants owe Plaintiff $ 625,000.00 pursuant to the agreement.
Defendant is the President, CEO, ??? of defendant Desert Gypsum Resources (DGR).
Defendant Desert Gypsum Resources (DGR) never held the Gypsum asset in its holdings.
Defendant William Percival never had authority of the Gypsum to execute a High Yield Trade on the Gypsum asset.
Defendant William Percival misrepresented the agreement pursuant to the 2nd Option.
Defendant William Percival misrepresented his involvement with defendant Gold Project-PI.
Defendant William Percival never paid any monies to defendant Gold Project-PI.
Defendant William Percival used the money loaned to him by Plaintiff for personal gain.
Defendant William Percival orchestrated this scheme to defraud Plaintiff of their money.
Defendant William Percival had knowledge that Jerry Maddox was in failing health at the time of the agreement.
Defendant William Percival caused money damages to Plaintiff.
Defendant Desert Gypsum Resources (DGR) caused money damages to Plaintiff.
Defendant Gold Project-PI caused money damages to Plaintiff.
plaintiff xxxxxx Maddox demands judgment for money damages against Defendants, together with such other and further relief as the Court may deem reasonable and just under the circumstances.
SUBMITTED this __17____ day of April 2012.
xxxxxx Maddox, Plaintiff