CHICAGO (CN) – A former publicist for rock icon Joan Jett borrowed $43,000 to buy Paul McCartney tickets, hoping to make a profit of at least 300 percent, but never repaid the loan, a company claims in court.
Based on her experience as Joan Jett’s former public relations manager, Tracy Monti now brokers tickets for concerts and other events in the Chicago area, according to the complaint filed by FSG Ventures.
The Illinois entity says it inherited the rights to a $43,750 loan Monti received from a man named Lloyd Gillman.
“Prior to June 2011, Gillman met Monti at the introduction of Gillman’s brother,” the complaint states. “Monti helped Gillman obtain tickets for a Who Concert. In their dealings regarding the Who Concert, Gillman loaned Monti money which money was paid back to Gillman pursuant to the terms which Monti and Gillman agreed.
“In June 2011, Monti approached Gillman about loaning her money for Monti to use to purchase tickets for the Paul McCartney Concerts at Wrigley Field.
“At that time, Monti told Gillman that she was a licensed ticket broker, licensed through the National Association of Ticket Brokers and that through her professional license and experience as a public relations manager for Joan Jett, she had many connections and relationships which would allow her to purchase tickets for the Paul McCartney Concerts and resell them at a substantial profit. Monti orally offered to repay to Gillman all money loaned by Gillman for the tickets within thirty days of the concerts, because, Monti said, that she expected to sell the Paul McCartney tickets at a 300 to 400 hundred percent profit. Monti offered to pay 25 percent interest on the funds.”
But after Gillman loaned out the $43,750, Monti never paid him back, the complaint says.
“Monti texted Gillman on March 29, 2012 to show him a text picture of her bank statement from Bank of America or US Bank,” FSG says. “The text showed an account, ending in four digits, with a balance of approximately $160,000.”
Despite frequent requests for his money, FSG says, “as of the filing of this lawsuit, no money has been repaid to Gillman by Monti.
Gillman also discovered that Monti was not a member of the National Association of Ticket Brokers, and had no license to resell tickets in Illinois, according to the complaint.
FSG attorney Adrian Vuckovich told Courthouse News that Monti did not misrepresent her former employment with Joan Jett.
“I understand that she was a PR person for Joan Jett,” Vuckovich added. “As far as I know that was true and was not a misrepresentation. If it turns out it was a misrepresentation, we’ll have to address that later.”
FSG Ventures seeks restitution and punitive damages for fraud and breach of contract. It sued Monti, Bank of America and US Bank in Cook County Court.
Vuckovich works with Collins Bargione & Vuckovich.