Investor Sues Music Tech Co. For $5M In Canceled Loans

Law360, London (October 7, 2020, 6:26 PM BST) -- An Abu Dhabi-based investor has sued a music technology company in London for allegedly making false statements to induce him to part with $5 million and then failing to refund the cash when he rescinded the investment.

Experienced tech company investor Archag Patrick Vosgimorukian brought a High Court claim against his business partner and friend, Dutch national Pieter Hamelink, as well as Hamelink's companies PowerChord and MMP Investment Holdings GmbH.

Vosgimorukian invested $5 million between 2018 and 2019 in PowerChord, which Hamelink founded in 2014 to sell earbuds that enhance the sound quality for crowds at music events, according to the...

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