Stephen Jackson's foundation subpoenaed as part of Georgia lawsuit

By Kelly Holleran | Oct 25, 2012

A financial company that loaned money to NBA player Stephen Jackson is asking a Jefferson County court to compel representatives of Jackson’s charitable foundation to appear for depositions in a Georgia lawsuit. 

Kingspoke Fund LP filed suit in Georgia after Jackson allegedly breached a loan and security agreement. Under the agreement, Kingspoke advanced funds to Jackson via wire transfer to a bank account at SunTrust Bank N.A. A portion of those funds was subsequently transferred to a bank account of the Jack 1 Foundation Inc. at TD Bank N.A.

Jackson, a Port Arthur native and player for the Golden State Warriors, started the Jack 1 Foundation in his hometown to provide “community initiatives that focus on youth development and empowerment regardless of socio-economic status,” according to the organization’s website.

“Plaintiff believes that Jack 1 Foundation Inc. possesses information and documents related to the disposition and location of loan proceeds,” the suit states. “It is necessary for Plaintiff to take the deposition of the corporate representative of Jack 1 Foundation Inc. for use in the Georgia Lawsuit.”

Earlier this month, a judge in Cobb County, Ga., authorized a subpoena to Jack 1, commanding its corporate representative to appear for deposition and produce documents at the deposition.

Kingspoke then filed a Petition to Take Deposition for Use in Foreign Proceeding on Oct. 15 in Jefferson County District Court.

The plaintiff is asking the local court to enforce the subpoena to compel Jack 1’s corporate representative’s attendance at a deposition and to produce documents.

Thomas R. Ajamie and Jason A. Braun of Ajamie LLP in Houston will be representing Kingspoke.

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

<em>Case No. B193-360</em>

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