On June 6, 2012, an event of default on the loan was declared by Pro Player,which Pro Player claimed entitled it to commence charging Young interest at the default rate of 30%. Pro Player also filed a Judgment by Confession on July 2, 2012, seeking from Young anoutstanding principal amount of $1,695,070.54, together with post-judgment interest at 9% perannum until the judgment is paid in full.4.
Young has never received a penny from the purported Pro Player “loan” proceeds,nor has he ever communicated with anyone from Pro Player or knowingly executed any loanagreements with Pro Player. Tellingly, the signature pages to the various loan agreementspurportedly signed by Young were executed on May 4, 2011, even though the agreementsthemselves were not finalized until two weeks later—on May 17, 2011. Pro Player entered intothis purported loan without taking any reasonable steps to ensure that Young was aware of thetransaction, that he authorized it, or that he would benefit from it. Indeed, the circumstances of this loan should have given rise to grave suspicions on the part of Pro Player as to whether thetransaction was legitimate. Pro Player, however, turned a blind eye to those circumstances,motivated by its rapacious desire to earn the exorbitant profits on the loan.5.
Despite Young’s stated belief that the Pro Player Loan was fraudulently obtainedwithout his knowledge, Pro Player has subjected Young—and his former football team, theBuffalo Bills—to a barrage of threats and excessive and needless discovery requests in an effortto enforce its judgment.6.
Accordingly, Young brings this action to vacate the Judgment by Confessionbecause the underlying loan was obtained by fraudulent means, with Pro Players’ (at minimum)negligent and reckless assistance.