SE Texas Record

Wednesday, November 20, 2019

Thomas Developers allege customers failed to repay $100,000 loan


By Shanice Harris | Aug 15, 2019

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Photo by Pepi Stojanovski on Unsplash

GALVESTON -- A Galveston developer is suing a League City business, alleging the defendants failed to pay back a $100,000 loan. 

Thomas Developers LLC filed suit July 24 in Galveston County District Court against Louis Tannos and Tannon Land Holdings, alleging breach of contract, breach of a loan agreement and fraud. 

According to the complaint, on Nov, 28, 2017, Thomas Developers issued a $100,000 loan to Louis Tannos and Tannos Land Holdings for the purchase of property in Friendswood. An investment receipt was issued to Tannos that same day, the suit alleges. 

In May 2019, Thomas Developers said it tried reaching out to Tannos about repayment but to no avail as Tannos has refused to make any payments. 

Thomas Developers is seeking a trial by jury, attorney fees, the $100,000, plus interest and all other just relief. It is represented by attorneys Spencer G. Markle and Morgan Gullatt of Markle DeLaCruz LLP of Houston.

Galveston County District Court Case number: 19-CV-1345

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