BREAKING: NHL'er Facing Second Serious $4M Lawsuit
Borden claims that he was led to believe that the loaned money would be used for technology development in Lehner's SolarCode business. He was informed that SolarCode had multiple government contracts in the Caribbean, Africa, and the Middle East, and that the technology associated with the loan was operational. However, Borden alleges that Lehner misrepresented the profitability and viability of SolarCode, failing to disclose that it was not a profitable or viable commercial entity.
As part of the loan agreement, Lehner assigned 20 percent of his SolarCode royalties to Borden indefinitely, with an option for Lehner to repurchase the royalty rights for $35 million.
As part of the loan agreement, Lehner assigned 20 percent of his SolarCode royalties to Borden indefinitely, with an option for Lehner to repurchase the royalty rights for $35 million.
The allegations came to light when Las Vegas businessman Michael Borden accused Lehner of deceiving him regarding the purpose and viability of a substantial loan. Borden claims that Lehner misrepresented the profitability of his SolarCode business, which was supposed to use the loan for technology development. Additionally, Borden alleges that Lehner failed to disclose significant debts and sought further loans despite the existing financial strain.
The court filing reveals that Lehner told Borden that his snake farm business was fully paid for and generating positive cash flow. However, it was later discovered that Lehner had undisclosed debts of over $16 million at the time of Borden's loan in April.
In June 2022, Borden alleges that Lehner sought another $500,000 loan with a one-year term. Lehner assured Borden that despite the one-year loan, he intended to repay the $500,000 earlier, specifically within the first two months of his guaranteed contract with the Knights, which started at the beginning of the current NHL season.
In June 2022, Borden alleges that Lehner sought another $500,000 loan with a one-year term. Lehner assured Borden that despite the one-year loan, he intended to repay the $500,000 earlier, specifically within the first two months of his guaranteed contract with the Knights, which started at the beginning of the current NHL season.
Despite not seeing any NHL game time this season, Lehner continues to receive income from his substantial contract with the Golden Knights. The question now arises as to whether Lehner can navigate these legal and financial challenges and successfully return to the NHL.
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