A Beaumont man is claiming a Port Neches woman not only took the proceeds of a loan he obtained, but took the loan collateral as well.

Peter Agomua filed a deceptive trade practices suit against Jael Malonga in Jefferson County District Court on April 4.

According to the plaintiff's original petition, on June 1, 2007, Peter Agomuo took out a loan at Wachovia Bank in the amount of $11,477. As collateral for the loan, Agomuo purchased a certificate of deposit from the bank.

Defendant Jael Malonga was given the proceeds from the loan with the agreement to make regular payments to Wachovia until the loan was repaid.

Agomuo claims that Malonga took the funds but failed to timely repay the loan. As a result, Agomua was notified by the bank that the loan was in default and he attempted to cash in the CD to repay the loan.

Agomua claims it was then he learned that Malonga had already cashed the CD without his knowledge or approval.

"Thus defendant not only failed to comply with the promise to repay the original loan amount, but also stole the funds that collateralized the loan," the original complaint states.

Agomua alleges that Malonga engaged in false, misleading and deceptive acts actionable under the Texas Deceptive Trade Practices-Consumer Protection Act.

The plaintiff claims that Malonga engaged in an unconscionable action "by taking advantage of the lack of knowledge, ability, experience or capacity of plaintiff to a grossly unfair degree."

The suit states other allegations including common law fraud, negligent misrepresentation and breach of contract.

Agomua claims he sustained economic and actual damages in the amount of $22,954. He alleges the deceptive acts by Malonga were committed knowingly, entitling him to recover multiple damages. He is also seeking costs and attorneys' fees.

Timothy Sawyer of Lindsay & Morgan PLLC in Beaumont is representing the plaintiff.

The case has been assigned to Judge Gary Sanderson, 60th District Court.

Case No. B181-554

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