HUNTINGTON -- A Cabell County woman is suing a man she claims took advantage of her and wrongfully converted $50,000 of her money for his own use.
In September 2009, James Bailes Jr. showed up at Vella Hale's home and convinced her to invest $50,000 with him, according to a complaint filed Nov. 1 in Cabell Circuit Court.
Hale claims Bailes told her he worked for a company known as Retirement Solutions, but had her write the check to him in his own name. She claims she became concerned when she never received any written documentation about her investment.
On Sept. 28, 2009, Bailes came to Hale's home agains and "presented her with a document he had prepared, entitled 'Receipt of $50,000 Loan," according to the suit.
Hale claims she intended to invest the $50,000, not provide Bailes, who was not a friend or relative, with a loan. She claims she realized she had little choice, so she signed the note.
The terms of the note required Bailes to pay back to Hale the principal amount of $50,000, plus interest at 9 percent on or before Oct. 22, 2010, but has failed to do so, according to the suit.
Hale claims Bailes took advantage of her and that she would not have voluntarily loaned him any sum of money.
Hale is seeking judgment in the amount of $54,500 and punitive damages in the amount of $100,000. She is being represented by W. Michael Frazier.
The case has been assigned to Circuit Judge F. Jane Hustead.
Cabell Circuit Court case number: 10-C-786