BRADENTON — A prep school owner is facing two more lawsuits from creditors, including a former head football coach who claims he’s owed more than $100,000 and was defamed.
Joseph M. Hammond filed a lawsuit that states Bradenton Preparatory Academy CEO Hendrik Lamprecht failed to repay $150,000 in loans that he made to the private for-profit school in 2007.
Hammond is also seeking unpaid salary and damages for reported defamation. He claims Lamprecht falsely blamed him for the school’s recently dismantled football team having ineligible players this school year.
Lamprecht could not immediately be reached for comment today.
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Also this week a creditor sued Bradenton Preparatory Academy LLC, Lamprecht’s company that now runs the school — renamed The Prep — that opened in a leased storefront on Cortez Road.
School Annual Publishing Co., claims the school purchased $17,328 in goods on May 5, 2009 and has not paid for them. The publishing company, which according to its website sells supplies including yearbooks and calenders, is seeking payment plus interest and attorneys fees.
Hammond’s 12-page suit, filed Wednesday at the Manatee County Courthouse, also mentions that builder and former Manatee County Commissioner Stan Stephens privately loaned the school $120,000 through a stock purchase agreement.
Stephens, president of Manasota Commercial Construction in Sarasota, could not be immediately reached for comment.
The stock agreement also shows Lamprecht paid $1 for a 73 percent ownership stake in the school. He was to assume all assets and liabilities, including Hammond’s loan.
In 2007, Hammond lent the school $100,000, according to a promissory note included in the lawsuit. He was originally scheduled to be repaid in three installments, earning 7.5 percent interest.
Under Lamprecht’s purchase agreement, Hammond was to be paid $150,000 in 12 equal monthly installments.
Also under the agreement, because Hammond also held the title of director of sports academies, he was to be paid a $90,000 annual salary and $85,000 in bonus money.
The lawsuits add to the school’s legal and financial problems, which include:
- Losing its west Bradenton campus to foreclosure.
- More than $1.1 million in IRS tax liens.
- Former teachers planning to sue over allegations they are owed tens of thousands of dollars in back pay.
- Several creditors filing suits over unpaid bills.
- Two leased vehicles repossessed by lenders.
- State education officials threatening to suspend the school’s eligibility for public scholarship money.
- The school’s new Cortez Road location not having a permit to hold classes.