Eugene executive files lawsuit seeking $549,000 from employer
A software design firm that moved to Eugene in 2014 is being sued by one of its own executives, who alleges that he loaned the company more than $450,000 two years ago but hasn’t been repaid as promised.
David Tam of Eugene filed the breach of contract suit last week in Lane County Circuit Court against Green Energy Corp. and GEC Investco LLC, a limited liability company that shares a Eugene address with Green Energy founder and CEO Peter Gregory.
Green Energy Corp.’s website lists Tam as its senior vice president for business development.
Tam says in the lawsuit that he gave a $457,229 loan to Green Energy and GEC in November 2014. A contract between the parties — signed by Gregory and Tam — specifies that Tam was to be repaid the full loan amount after one year, plus annual interest of 13.1 percent.
Read more: http://registerguard.com/rg/news/local/35218444-75/eugene-executive-files-lawsuit-seeking-549000-from-employer.html.csp
[font color=330099]Mr. Tam is about to learn a valuable lesson. Whenever an employer asks an employee to loan it money then it is time to start looking for another job.[/font]